Waiheke Real Estate Multiple Offer Procedure
Once we know there is going to be more than one offer for a property, all prospective purchasers are invited to make their best offer for the property, like in a tender situation. We will usually set a time period for all offers to be presented.
A multi-offer acknowledgement form will also need to be signed.
The manager, or a neutral salesperson from our office will present all offers to the vendors in sealed envelopes for them to either accept one, or choose to negotiate further with one. If only one salesperson is bringing all offers, they can be the neutral salesperson.
There may be no further opportunity to improve your offer after this time.
If this is carried out electronically, all offers will be sent to the owners at the same time.
In some cases, all offers can be sent directly to the vendors lawyer to present to their client.
Until such time as the vendor has accepted an offer and signed the agreement, other parties are able to make offers, and be in the multiple offer.
It is important that all parties are clear as to exactly how the multiple offer will be carried out, and that no party will be at a disadvantage to the other. No party will have knowledge of any other parties offer at any time.