It really depends.  If both parties have negotiated to Mutual Acceptances (that means they have both signed off on the contract), then chances are not very good. It is the first Buyers’ home to lose.   Seller can only void the contract for a contractual reason, even if you offer a bunch of money more! 

You can always have your agent request to make a back up offer.  In the event the first offer falls through, then you would be first in line to purchase the property under the terms of you back up offer.  Unfortunately, an astute listing agent (those are the ones that are representing the Seller) will use the back offer to keep the first Buyer in line and push them to closing without any further concessions.  As a general rule of thumb I don’t recommend back offers, unless listing agent admits the first offer is weak.  There is a low percentage chance of winning the property. 

If you catch the Seller and Buyer still in negotiations, legally, the listing agent is required to present all offers to the Seller for consideration, unless directed otherwise, in writing by the Seller.  This is where Sellers should be salivating.  Having more than one party wanting your house is a good thing.  Good agents will inform all parties that there is two or more offers and to encourage the parties to put forth their best.  Usually escalation clauses come into effect, larger earnest monies and fewer contingencies (waiving inspections and even financing) are common when competing for a house.  But that is another story.  Obviously, if you are one of two or more interested parties, prices will typically be driven up.  Not uncommon for homes to sell tens of thousands of dollars above list price in a hot market.

The best advice is to have a good agent, who programs your search parameters into the MLS data base.  That way, when a new property comes on the market, that matches what you are looking for, you are emailed within seconds.   If you need help or have more questions, contact us here at the Doner Group Real Estate.