Multiple Offers: How to Choose the Best One

Getting multiple offers is a great problem to have. Picking the right one takes more than looking at the price.

Compare the full terms

• Price
• Financing type and the strength of the preapproval
• Down payment size
• Earnest money and option fee
• Option period length
• Appraisal terms
• Requested concessions or repairs
• Closing date and any leaseback

Net matters more than price

An offer with a higher price but large concessions can net you less than a slightly lower clean offer. I put every offer on a spreadsheet showing your estimated net.

Certainty matters too

A buyer with a strong preapproval, a responsive lender, and fewer contingencies is more likely to close on time.

Counter strategies

You can counter one offer, or let all buyers know there are multiple offers and ask for their highest and best by a deadline. Each approach has tradeoffs, and I'll walk you through them.

Keep it fair

Every offer is reviewed on its terms. Fair housing laws apply, so decisions are based on the offers themselves.

If you are getting ready to list and want to know how I handle multiple offers, let's talk.