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Multi-offer process and form‚Äč

What is a multi-offer and how does it work?

When a property is for sale and more than one purchaser indicate that they wish to put an offer on the for sale property, it is called a multi-offer.  The moment the salesperson is aware that a multi-offer situation might arise, he/she is legally obliged to let all potential purchasers know that they are in a multi-offer.  Notification of a multi-offer situation must contain a deadline date and time (roughly 48 hours from notification). All purchasers are also obliged to sign the multi-offer acknowledgement form (available on this page). By the deadline all offers must be received by the salesperson, fully signed by the purchasers.  Late offers can not be allowed as that would not be fair.

Once the salesperson received all the signed offers, he/she presents all offers at the same meeting to the vendor.  The salesperson or the manager might present offers. In a multi-offer situation, all purchasers must ensure their first offer is the best possible offer as the vendor can only select one potential purchaser to negotiate further with.  A multi-offer often results in offers over asking price.  The vendor might choose to decline all offers in the multi-offer if they want.  All control is with the vendor during this process.  The multi-offer situation can arise on a primary offer or a back-up offer and the salesperson is legally obligated to follow the multi-offer process.

Multi-offer acknowledgement form

All purchasers must complete and submit this acknowledgement form with the signed offer to purchase to the salesperson prior to the deadline to have their offer presented.

Purchaser multi-offer acknowledgement form

Provide the legal name and surname of the person completing this form. This person must be one of the purchasers on the offer.
Provide full property address
The salesperson has disclosed to me/us that there is another offer/s being made on the property at this time.*
I/we also acknowledge that the salesperson, prior to making a final offer advised us that the vendor might a) choose not to accept any offers made, or b) counteroffer with one and only one of the purchasers, or c) negotiate with one and only one of the purchasers.*
I/we also acknowledge that I/we are aware that the vendor might not accept my/our offer or choose to negotiate with us.*
I/we hereby acknowledge that following the advice, our offer is our best offer*
I/we understand that the offer price and terms and conditions of my/our offer will remain confidential to me/us and the salesperson drafting my/our offer*
I/we understand that our offer will be sealed in an envelope and will only be opened in the presence of the vendor and that all offers will be presented to the vendor at the same time.*
I/we further acknowledge that at the time we entered into this offer, I/we did so freely and voluntarily, without any influences or duress, and I/we confirm that I/we were recommended to obtain legal advice and were advised to obtain any necessary technical or other specialist or expert advise before submitting this offer. *
I/we further declare that the submission of this form constitutes the "signature/s" of all purchasers.
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