How to Choose the Best Offer When Selling Your Home

By The Goodman Taylor Team

We want to help you live the best life you can, one where you find your dream home, move to the perfect location, or receive a life-changing deal. We’ve done this for countless clients in the past, and we’d love to do it for you too. After all, there’s a reason why we’re one of the most trusted real estate teams in our area.

Receiving multiple offers on your home is exciting, but it can also be overwhelming. How do you determine which offer is truly the best one for you? While price is important, there are several other factors to consider before making your decision. Here are three factors to consider when faced with multiple offers:

1. Price and terms matter. It’s often tempting to focus solely on the highest offer, but that’s just one piece of the puzzle. Many sellers prioritize the net proceeds, while others may value convenience more, such as a quicker closing time or fewer contingencies. For example, some buyers may ask for seller concessions or an extended inspection period. These factors can impact how long it will take to close or how much you’ll walk away with at the end.

2. Compare apples to apples. When we have clients with multiple offers, we prepare a spreadsheet to compare them side by side. To make the comparison process easier, consider creating a detailed breakdown of each offer. List key elements like price, any closing cost requests, and the inspection period. This will give you a clear view of how each offer stacks up against the others. For sellers looking for a quicker sale, offers with a shorter inspection period may be more appealing, as they lead to a faster closing date.

3. Evaluate the buyer’s financial stability. One of the most critical factors when choosing the right offer is the financial strength of the buyer. Buyers are typically required to submit an Arizona pre-qualification form, which you can use to verify their financial standing. Ensure that their income, down payment, and financing are secure.

4. Earnest money and down payment. Another important consideration is the amount of earnest money and down payment the buyer is offering. A larger down payment often indicates that the buyer is financially prepared and less likely to back out of the deal. Similarly, a higher earnest money deposit shows serious intent and can be reassuring for sellers.

Choosing the best offer involves more than just picking the highest price. You must carefully consider the terms, the buyer’s financial stability, and other factors to make an informed decision that best meets your needs. If you need more guidance on handling multiple offers, I’m here to help. Reach out to me for a consultation at 480-220-6364. Let’s work together to review your offers and find the one that aligns with your goals.