How to Handle Multiple Offers as a Buyer or Seller

The real estate market in Lima, OH and surrounding areas has become increasingly competitive. Whether you're buying your first home or selling in a hot neighborhood, chances are you may find yourself in a multiple-offer situation. That can be both exciting and overwhelming — but with the right approach, you can come out ahead.

Here’s how to handle multiple offers like a pro:

For Sellers: How to Make the Most of Multiple Offers

If you’re selling in or around Lima, you may attract multiple offers — especially if your property is priced right and move-in ready. Here’s how to make the most of it:

1. Look Beyond the Price

Yes, the highest offer is tempting — but make sure to consider:

• Contingencies (inspection, financing, appraisal)

• Buyer financing strength

• Flexible closing dates

• Earnest money deposits

A local buyer might offer a better timeline or fewer contingencies that benefit your sale.

2. Request “Highest and Best”

If offers are close, your agent can ask all buyers to submit their “highest and best” by a set deadline. This is a common and fair strategy used in the Lima market to ensure you're getting top value.

3. Consider a Backup Offer

Deals can fall through, even in fast-paced markets like Lima’s. Having a backup offer ready ensures you won’t have to go back to square one if something changes.

For Buyers: How to Compete Without Losing Your Cool

If you’re house-hunting in the Lima area, you may find yourself up against other buyers, especially for well-priced or newly listed homes.

1. Get Pre-Approved Early

In Lima’s competitive market, a strong pre-approval letter can be the difference between winning or losing the deal.

2. Make Your Offer Clean

Waiving unnecessary contingencies, offering flexible closing dates, or increasing earnest money can make your offer more attractive — even if it’s not the highest.

3. Use an Escalation Clause

This allows your offer to automatically increase (up to a max limit) if someone else bids higher — a useful tool in bidding wars.

4. Add a Personal Touch

Especially in tight-knit communities like those in and around Lima, a brief personal letter to the seller can set your offer apart.

5. Know Your Budget

Stick to your financial boundaries. It’s easy to get caught up in the moment, but it’s important to buy smart — not just fast.

Final Thoughts

Multiple-offer situations are becoming more common in Lima, OH, as buyers recognize the value and affordability of the region. Whether you're selling a mobile home in Kenton Meadows or looking to buy your next family home in Allen County, being prepared can give you the edge.

Looking for help navigating Lima’s competitive real estate market? Reach out to our  team today — we’re local, experienced, and ready to guide you every step of the way.