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Usually, in most cases if three offers came in right close to the same time, the seller will send them back with the agents and tell the buyers to come back with "their highest and best" and whoever comes out the highest offer wins. IF a first offer was already on the table, then theother two become "back up offers" in the order they were presented, (that is why on the disclosure page you always make sure you put the date AND the time. Might make all the difference in an offer being accepted) and then if the first contract falls thru, or has a kick out then the second one comes into play. Another good thing to do when you are thinking of buying is go to the bank and get pre-approved. NOT pre-qualified, as that just says you MIGHT be ok for so much, but a pre-approval means you can get the money, no problems.
SO happy for you. Five acres is a great start for a mini-farm!!! Interest rates are great still, so that helps immensely on the payments.