Berkshire Hathaway Homeservices Florida Network Realty
Dianne Drinkwater, Berkshire Hathaway Homeservices Florida Network RealtyPhone:
Email: [email protected]

Multiple Disclosures: When & Why to Use Them in Your Home Sale

by Dianne Drinkwater 06/03/2024

When selling a home, it’s not uncommon to get offers from multiple buyers. This is especially true in a hot market with low inventory. If you’re dealing with multiple offers, the question can arise about disclosing those offers. If you’re unclear about how and why to factor this into your negotiations, here is some basic info to help.

Why Disclose Multiple Offers?

There are two benefits to disclosing offers to other buyers:

  • It can encourage one buyer to increase their offer. Informing a buyer that there is another offer in play might result in a larger offer from another buyer.

  • Sometimes, counter offers include more than a price increase. A buyer might offer better terms to sweeten the deal, like waiving appraisal or inspection fees. This is where seller contingencies come into play. It’s also common for an updated offer to be a larger deposit, quicker closing or even covering the closing costs.

Why Not Disclose Multiple Offers?

While there are definite upsides to disclosing multiple offers, there can also be drawbacks:

  • Some buyers might be intimidated and walk away from the sale. Knowing that there are other, more competitive offers on the table could discourage them from pursuing the property.

  • Dealing with multiple offer disclosures can get confusing. The communication involved might get tricky and even stressful. Keeping track of which offers are available might turn into more of a hassle than you want in your selling process.

  • Disclosing offers can make the sale take a lot longer. Most home closings take a month or two, but if you’re dealing with multiple offers and counteroffers, disclosure could drag out the process. Each round of offers and counteroffers adds days to your total timeline, which can be especially inconvenient if you have a new purchase contingent on your current home sale closing.

Overall, consulting with a real estate professional will help you decide whether disclosing multiple offers is the right move. Weigh the options carefully to determine what will get you the best results.

About the Author
Author

Dianne Drinkwater

Dianne is a dedicated full-time Realtor in Northeast Florida, known for her client-focused approach and expertise in the real estate market. She combines her passion for photography with her real estate listings to ensure high-quality visuals and presentations, setting her apart in a competitive field.

  • Client-Centered Approach: Dianne emphasizes a personalized experience for buyers and sellers, offering expert guidance throughout the real estate process. She is a member of several professional organizations and holds specialized designations. Military on the Move agent, Leading RE-Relocation Specialist, Shearwater Certified 2017 and Nocatee Certified 2025, 2025 RESA-Certified Staging Advocate.
  • Passion for Presentation: She believes that presentation is crucial, utilizing professional photography and staging techniques to enhance property appeal, ensuring every listing makes a strong first impression. She was a Master Gardener in both Florida and Maine to help you with first impressions as you approach the property. Dianne focuses on providing knowledgeable, client-centered guidance throughout the real estate process, positioning herself as a trusted advisor, not just a salesperson.

She prides herself on being your "Forever Agent."