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Multiple Offers Put Home Sellers in Control

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By Paul Owers

Homes in good condition and priced fairly almost certainly will attract more than one offer, real estate agents say. Demand far exceeds supply across most of the nation, so investors and young families are all circling the same properties hoping to hit pay dirt.

Still, that doesn’t mean all sellers are necessarily rejoicing, says Judy Trudel, an agent in Florida’s Palm Beach and Broward counties.

“When you have multiple offers, it sounds like you’re in the driver’s seat,” Trudel says. “But it’s a very stressful situation.”

Not every multiple-offer situation turns out well. Real estate agent Carrie Hazen had a client who received three offers on her Coral Springs, Fla., home.

That’s the good news. The bad? When the seller made counteroffers late last month, all three buyers bailed.

One of the buyers told Hazen she was backing out because another seller had accepted her contract — even though it’s unethical for a buyer to submit more than one offer at a time.

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