You Found the House. Now 8 Other Buyers Want It Too. Here's What to Do. What I tell every buyer before they write an offer in this market — and what most agents won't say out loud

Here’s exactly what works.

Get Fully Pre-Approved Before You Even Start Looking

Not pre-qualified. Pre-approved.

There’s a big difference. Pre-qualification is a quick estimate based on what you tell a lender. Pre-approval means they’ve actually verified your income, assets, and credit. In a multiple offer situation, sellers and listing agents can tell the difference immediately — and a pre-qualification letter in a competitive offer is a red flag.

Ideally, go one step further and get a full credit approval or underwriting approval upfront. It dramatically strengthens your position and gives the seller confidence that your financing isn’t going to fall apart.

Lead With Your Strongest Number

A lot of buyers want to start low and negotiate up. In a multiple offer situation, that strategy will cost you the house.

You don’t always get a second chance to improve your offer. Some sellers take the best offer and move on without a counteroffer. Lead with a number where if you get outbid, you can sleep soundly knowing that was absolutely the best you could do. No second guessing, no what-ifs.

That doesn’t mean overpaying — it means being intentional about your number instead of playing games you may not get the chance to finish.

Be Smart About Contingencies

Contingencies protect buyers — but in a competitive market, too many of them make your offer less attractive.

The most common ones are the inspection contingency, financing contingency, and sale contingency. Here’s how I think about each:

Inspection contingency — In a multiple offer situation, you’re going to have to take the home as-is to compete. That doesn’t mean you skip the inspection — you absolutely should still do one. But what it means is you cannot ask the seller for credits or repairs based on what you find. If you do the inspection and uncover something that’s a dealbreaker, you can back out and get your earnest money back. You’re protected, but you’re not using the inspection as a negotiating tool after the fact. If you really want to be aggressive, some buyers waive the inspection entirely — that is an option, but understand there is real risk that comes with that decision.

Financing contingency — If you have a strong pre-approval and solid financials, this is one you might consider waiving or shortening. Talk to your lender first and make sure you’re comfortable with the risk before removing this protection.

Sale contingency — If you need to sell your current home before buying, I’ll be direct with you — you cannot have this contingency in a competitive offer situation. It will not get accepted. If this is your situation, explore bridge financing or work on timing your sale before you start your search seriously.

Terms Matter as Much as Price

This is something I see firsthand from both sides of the table. When I represent sellers and we have multiple offers, a lot of the time we do not accept the highest price offer. Terms matter enormously.

Do they want a quick close? A longer close while they find their next home? Do they need post-closing possession — meaning they stay in the home for a period of time after closing while they transition? Are there specific dates that work better for them?

Your agent should be calling the listing agent before submitting your offer to find out exactly what the seller needs. That one phone call can be the difference between winning and losing. A buyer who offers slightly less but gives the seller the terms they actually want will beat a higher offer with inconvenient terms every single time.

Flexibility on terms can be worth tens of thousands of dollars to a motivated seller — and it costs you nothing to ask.

Earnest Money Sends a Signal

Earnest money is the deposit you put down when your offer is accepted. The standard in this market is around 1% of the purchase price, but in a competitive situation, going higher — 2% to 3% or more — sends a clear message that you’re serious and financially capable.

It doesn’t cost you anything extra in the long run since it goes toward your down payment at closing. But it absolutely gets noticed.

Write a Personal Letter — Selectively

Buyer letters to sellers have become more complicated from a Fair Housing standpoint, and some listing agents will advise their sellers not to read them. But in the right situation, a brief, genuine note about why you love the home can make a difference.

Work With an Agent Who Knows the Market

This one matters more than people realize. Agents who are active in a specific market have relationships with other agents, understand local norms, and know how to present your offer in a way that resonates with the listing side.

In a multiple offer situation, the conversation between agents before offers are even submitted can make a real difference. Your agent should be making that call every single time — finding out what the seller wants, what terms matter to them, and making sure your offer speaks directly to those needs. Who your agent is and how they do their job matters.

The Bottom Line

Winning in a multiple offer situation comes down to three things — being financially ready before you start, leading with a strong and clean offer, and understanding what the seller actually needs.

The buyers who lose are usually the ones who weren’t prepared, went in too low hoping to negotiate, or loaded their offer with contingencies that made the seller nervous.

The buyers who win are the ones who come in ready, decisive, and flexible on terms.

If you’re getting ready to buy in the western suburbs and want to talk through your specific situation, reach out. This is exactly what I help buyers navigate every day.

Nick Chiaramonte | Real Estate Broker | Northwest Real Estate Group Specializing in Chicago & the Western Suburbs 📱 847 567 1497 | 🌐 linktr.ee/realtornick