In Denver, we have seen multiple offers for years, probably ever since recreational marijuana was approved! I know I had 15 offers on one condo once, and that Seller's head exploded! But, having a spreadsheet with all the details made it easier for her to make a decision, especially when so many are similar.
There is only so much you can offer, then the "gap monies" need to be considered, and still won't know FOR SURE what the appraisal will come in at. I usually know what is SHOULD, but that isn't always what happens.
Another question that has been very important to ask the Buyers Agent - "Has your buyer written on more than one home, and have more than one offer working right now"?
Many agents will write more than one offer for a buyer, and then there is a chance that buyer gets more than one offer accepted. In my mind, that buyer USUALLY can only buy one home, so why would they write more than one offer? Then after their offer is accepted, the buyer needs to decide which home they want, and terminate the other. This is really tough on other buyers! After their offer is not accepted, their feelings get hurt, and hard to come back and say - sure we will rewrite.
So, reviewing all offers late yesterday, and reviewing with the Seller this morning, my seller accepted a very good offer, and certain this buyer did not write on another property.