Spring tends to bring more movement to the Dunedin property market. More homes come to market, more buyers start actively looking, and when the right property appears, competition can build quickly.

That is when a multi-offer can happen.

If you are buying, it can feel like the pressure suddenly goes up. If you are selling, it can feel like the best possible position to be in.

But a multi-offer is not simply a case of “highest price wins”.

There is more to it than that.

A multi-offer situation happens when a seller has more than one written offer on their property at the same time.

A busy open home does not automatically mean a property is in a multi-offer.

Neither does having several buyers saying they are interested.

There needs to be more than one written offer being considered.

Once that happens, the buyers involved should be advised that they are in a multi-offer process and given the opportunity to decide what offer they want to put forward.

For buyers, this is the moment to stop thinking about what the other person might be offering and focus on what the property is worth to you.

One of the biggest mistakes in a multi-offer is assuming you will get another chance.

In a normal negotiation, you might submit an offer expecting the seller to come back and negotiate.

In a multi-offer, that may not happen.

The seller may choose one of the offers already in front of them.

That means buyers need to put forward an offer they would be comfortable having accepted.

Not the highest amount the bank will lend you.

Not a number chosen because you are worried someone else will beat you.

A figure that makes sense for your budget, the property and your circumstances.

Before you submit, ask yourself:

• What is this home worth to us?
• What can we comfortably afford?
• What conditions do we genuinely need?
• If we miss out at this price, will we be comfortable with that decision?

Multi-offers can become emotional very quickly. Having those answers before you sign anything can make a huge difference.

No — and this is one of the most important things for both buyers and sellers to understand.

A seller looks at the whole offer, not just the price.

That can include:

• Purchase price
• Finance conditions
• Building inspection conditions
• LIM or title conditions
• Settlement date
• Deposit
• Whether the buyer needs to sell another property first

Imagine two buyers want the same Dunedin home.

One offers more money but has several conditions and needs to sell their current property first.

The other offers slightly less, has finance organised and can settle on the date the seller wants.

Depending on the seller’s circumstances, the second offer may be more attractive.

That is why a multi-offer is not simply an auction on paper.

The strength of an offer is often about price, terms and certainty together.

This is where buyers need to be careful.

When another buyer wants the same property, it can be tempting to start removing conditions to make your offer look more attractive.

But conditions can provide important protection.

In Dunedin, that is especially worth thinking about because our housing stock varies enormously.

We have older villas, brick homes, hillside properties, renovated homes, newer builds and properties that may need more investigation before a buyer is comfortable proceeding.

Depending on the property and your circumstances, you may need finance approval, legal advice, a building inspection or other due diligence.

Removing a condition may make your offer more attractive to a seller, but it can also increase your risk.

The better strategy is to prepare early.

Have your finance organised.

Know who your lawyer or conveyancer is.

Understand what checks you are likely to want.

The more organised you are, the easier it is to make a strong offer without taking risks you are uncomfortable with.

Receiving multiple offers is a great position to be in.

But it is still important not to focus only on the largest number written on the page.

A strong offer should work for your wider situation.

We look at things such as:

• The purchase price
• The number and type of conditions
• The proposed settlement date
• Whether another property needs to sell first
• How much certainty the offer provides
• How well the offer fits with your own next move

For example, if you have already purchased another home, a settlement date that lines up perfectly may have real value to you.

Another seller may care more about having fewer conditions.

The “best” offer can look different for every seller.

Our role is to make sure you understand exactly what each offer means before making a decision.

Not every Dunedin property will attract multiple offers.

But when a home stands out, several buyers can reach the same conclusion at the same time.

That might be because of:

• A sought-after location
• Good sun and natural light
• Warmth and heating
• Off-street parking
• A practical family layout
• Strong presentation
• A price point that appeals to a large group of buyers

Dunedin buyers are often comparing very different properties.

A sunny, warm home that feels easy to move into can stand out strongly against a property requiring significant immediate work.

Likewise, a well-presented first home at an accessible price point may attract interest from several buyers who have been waiting for the right option.

That is why a multi-offer can sometimes develop very quickly — even when there are plenty of other homes on the market.

For buyers, a multi-offer can feel stressful.

For sellers, it can feel exciting.

In both cases, preparation makes the process much easier.

If you are buying, know your limit before you make the offer. Understand the conditions you need and do not let another buyer’s interest push you into a decision you would not otherwise make.

If you are selling, look beyond the headline price and consider which offer gives you the best overall outcome.

And for both sides, remember that a multi-offer is ultimately about making a good property decision — not simply winning.

If you are buying or selling in Dunedin this spring and want to understand how a multi-offer works, talk with us.

We can help you understand the process, what to expect and how to make a clear decision when more than one buyer wants the same property.

Disclaimer: This article is intended as general information only and does not constitute legal, financial or property advice. Every property transaction and multi-offer situation is different. Buyers and sellers should obtain independent legal, financial and other professional advice appropriate to their circumstances before making any decisions.