Multiple offers are very good for the seller - you have a great property that is in demand and buyers are lining up to buy it. However this situation that is good for the seller can be very detrimental to the buyer. In mulitple offer situations many buyers become competitive and emotionally involved in a way that does not induce logical reasoning; so buyers get caught up in a situation where they are in essence 'throwing money at the property' where in many cases that value is not there. This is why it is so important that your sales representative gives you good counsel, I frequently tell my buyer clients that there is "always another deal". There is no harm in taking pause and keeping your head when buying a major asset like your home, it is still an investment, and to make a sound investment you have to have a good sales representative who has the experience to give you good advice.