What is multiple offers?

Recent shortage of inventories in price range of upto $200,000 in all area of Onondaga County has resulted in multiple offers situation.   What is multiple offers?  This is good news for sellers. It meant that there are more than one buyers that like the sellers' home.  So the buyers are competing in their offer to attract the sellers' attention.  That does not mean they are full price offer or offered more than the asking price.  However, normally that will be the case.  If there are more than one offer, sellers' will request the best and final offer from each buyers that have submitted the offer.  So, buyers do not have a second chance but need to show sellers their best offer will be.  This can be the asking price or sometimes more than the asking price. For multiple offer situation, consult with your buyers' agent.  They will help you get the home you like and desire.