Keep your pencil sharp when dealing with multiple offers

Even when market conditions are tipped in their favor, sellers have to have a few tricks up their sleeves when negotiating with buyers.  And their strategies will revolve predominantly around price and terms.
Let’s start with the most enviable of situations: Getting more than one offer.
First of all, to officially be in a multiple-offer situation, you actually need to have more than one legitimate offer in hand.  A promise to make an offer does not cut the mustard.
And make sure