Whether or not you offer the full asking price should be a discussion you have with your agent. He or she should be able to advise you what is happening in your local market and what the liklihood of the other offers being at or over the asking price. With regards to a specific time period in which to respond depends upon your true desire for the home. You can make offers on other properties prior to the bank responding so if they take a long time you may find something more suited to your needs. When the bank does in fact respond the option is again yours to say whether you accept or not. However, you should always operate in good faith because you would like to be treated with the same respect.

Hello!
How are you?
I would answer to all your questions "YES".
1. yes, offer at least full price (you are saying that there are several offers for this property, it means, the asking price is below market value).
2. yes, you can stipulate a time period for a bank to respond.
Terms of your offer is very important to a bank: amount of down payment / or full cahs, as -is condition.
Good Luck!

HB
You need to talk with your Realtor.

I advise my buyer's to make an offer based on the market value of the property, not the asking price.
Look at comparable homes both on the market, and sold, and see what value your Realtor can show you.

If the value is less than the asking price I would include the comp information in your offer. We are having a lot of problems with appraisals, which the lender will know is going to be a problem, so they will appreciate a full and complete offer.

Your agent should guide you through this. You need to offer what's good for you. What number would make you say "I WOULD HAVE OFFERED THAT!" The banks will also consider the terms - in some cases more than the price - cash is always nice. Your agent will be your catalyst for keeping on top of communications. Lot's of luck!

Where is your buyers agent assisting with all these questions?

If there are other offers NON accepted you can still submit an offer.

Each property stands alone your buyers agent needs investigate the history of home and etc. determine what is best interest for all parties. How do you know if home is not over valued by offer full list price?

I have witnessed as a listing agent bank took offers LESS than other offers submitted much comes into play for any bank make a deicsion.

Good luck

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Lynn911