Buying Tip: Multiple offers and tips to win the bid: More and more I'm seeing multiple offers on homes. It is greatly because there are less foreclosures and less homes under $100,000 since prices have been slowly on the rise. Some foreclosure asset managers are even listing a home extremely low priced in order to create a bidding war. Then sometimes they don't look at offers for 1-2 weeks so that plenty of buyers have time to submit offers. If you are in a multiple offer situation, I recommend offering above the asking price. How much above the asking price depends on how many offers there are and how badly you want the property. Another tip is to have a higher than normal binder deposit. You have a contingency period so you don't have to worry about losing it so I suggest at least $2500 but the higher the better. Lastly, if you are paying cash then I suggest offering to close in 3 weeks or less. Cash deals can close quickly. Let me know if you have any questions about the buying process and I am happy to help.