How We're Winning Offers in Multiple-Offer Situations Right Now

Well-priced homes under $400K in Oakland and Macomb County are still going multiple offers. I'm seeing it every week. And the difference between winning and losing often has nothing to do with price. It comes down to how the financing is structured and how the lender shows up.

Here's exactly what I'm doing right now to help my agents' clients win.

1. Pre-Approvals That Actually Mean Something

I don't issue pre-qualification letters. Every client I send to contract has a full pre-approval (the opposite of the pre-qual issue killing deals right now). Credit pulled, income and assets verified, file reviewed by underwriting. When a listing agent calls to verify, I pick up the phone and I can tell them exactly where the file stands.

That matters. A listing agent reviewing five offers knows the difference between a real approval and a guess. Yours will stand out.

2. Same-Day Turnaround

When your buyer finds the right house, they shouldn't have to wait two days for a letter. I turn pre-approvals around same day, often within a few hours. That means your buyers can move fast even in the current rate environment when the right property comes up, and you're not losing out because of paperwork timing.

3. Offer Structure Strategy

Financing can be a competitive weapon. Most buyers just don't know how to use it. An escalation clause backed by a solid pre-approval is more credible than one backed by a flimsy letter. Seller concessions structured correctly can make an offer more attractive without changing the net to the seller. A larger earnest money deposit signals commitment.

I talk through offer strategy with agents before the offer goes in (including how MSHDA buyers can compete in Oakland County multiple offer scenarios). Not to overstep, you run your business, but because the financing piece affects every other part of the offer, and you deserve a lender who understands that.

4. Proactive Communication Throughout the Process

The worst thing that can happen to a deal is a surprise. I don't let that happen. I call agents before issues become problems. If something comes up in underwriting, you hear it from me first, not from the title company two days before closing. I've saved deals that other lenders would have let die because I caught things early.

For Agents: Let's Connect

If you're working with buyers and need a lender who will make your life easier and your deals stronger, I'd like to earn that business. No pitch, just results. Ask any agent who's worked with me what it's like to have your calls returned, your clients handled professionally, and your closings happen on time.

What an escalation clause actually looks like (with the exact language I use)

An escalation clause says "I will pay $X above any other bona fide offer up to a ceiling of $Y." It is a powerful tool when paired with strong financing. Here is the exact structure I see win in Oakland and Macomb County:

The redaction-required clause matters. It protects against agents making up competing offers to push your number up. Most listing agents will accept this. If they refuse, that is a signal worth paying attention to.

The $1,000 escalation increment is intentional. Too small ($100) reads as cheap. Too large ($5,000) gives away leverage. $1,000 is the goldilocks number in this market.

Earnest money strategy: when 1% vs 3% vs 5% is right

Standard earnest money in Oakland County sits at 1% of purchase price. Going higher signals commitment. Here is how I think about it:

• 1% (standard): Use when you are the only offer or when financing terms are the strongest part of your offer. Saves your cash for inspection contingency negotiations later.
• 2 to 3% (competitive bump): Use in a multi-offer where you want to signal real commitment without overcommitting. On a $400K home, $8,000 to $12,000 EMD instead of $4,000 sends a clear message that you are not a casual offer.
• 5% (closer move): Use when the listing has sat 3+ days with multiple offers and the seller is signaling they want certainty. A 5% EMD says "I will close" louder than any letter ever will. Reserve this for the right house at the right price; do not do this on a stretch property.

EMD is fully refundable up to the inspection contingency deadline in standard Michigan contracts. After that deadline, refund-ability depends on the specific contingencies. Talk to your agent about which contingencies you are keeping and which you are waiving before deciding the EMD amount.

What I actually do at 8pm on a Saturday when your offer goes in

The lender's job does not stop when the application gets submitted. Here is the specific work I do in the hours after an offer goes in on a hot listing:

1. Call the listing agent within 30 minutes of the offer hitting their inbox. I introduce myself, confirm I am holding the file in my underwriting queue for fast turnaround, and answer any questions about the buyer's financial profile that I am authorized to share. Listing agents notice when the lender shows up before the buyer's agent even calls.
2. Re-verify pricing on the rate lock. If we floated, I check whether locking now versus tomorrow makes sense given pending economic data. A bad lock decision in the first 48 hours of a contract can cost a buyer $10,000 over the life of the loan.
3. Prepare the inspection contingency conversation. I run the buyer through what kind of repair credits or price reductions can be financed without re-underwriting. The number "$8,000 in repair credit at the title company" is fine. "Replace the roof and re-close at a $12,000 lower price" might require a new appraisal. Knowing the difference up front saves the deal at week three.
4. Stay reachable. The deals that fall apart between contract and close usually start with a question that nobody answered for two days. I answer texts, emails, and calls within 30 minutes during business hours and within 2 hours on evenings and weekends. That responsiveness is what your agent's reputation rests on too.

Frequently asked questions

Why this matters

For homeowners: if you're listing your house in this market, the offer with the highest number on it isn't always the strongest one. Ask your agent to vet the lender on the top two offers before you sign. The deal that closes is worth more than the offer that falls apart at week six.

For home buyers: in a multi-offer situation you can absolutely win without being the highest bid. Real pre-approval, fast turnaround, and a smart offer structure beat a slightly higher number from a buyer whose financing looks shaky. Pick a lender who treats your offer like their offer.

For home sellers: in a multi-offer scenario, the financing on the offer matters as much as the price. Have your agent call the lender on the strongest two before you decide. Five minutes on the phone tells you which deal will actually close.

For real estate agents: the lender is part of your offer. A lender who picks up the phone, turns letters around same day, and helps you structure the bid is a competitive edge your side has and the other agent's side doesn't. Pick the partner that wins for you.

If you want to work with a lender who treats your deal like their deal, reach out to Tommy.