Why the highest offer may not be best
THE HOME GUIDE · 46
Why the highest offer may not be best
A good offer is one that fits the seller's needs and has a sound path to closing.
ABOUT 3 MINUTES TO READ
A QUICK LOOK · THREE THINGS TO KNOW
01 / START HERE
Look at more than price
A higher offer may also ask for more time or have a condition that has not been met.
02 / START HERE
Check the chance of closing
A strong offer has a sound plan for loan checks, dates and other work.
03 / START HERE
Think about your own needs
A fast closing may help one seller and hurt another.
A seller may get two offers and notice the higher number first. But dates, conditions and the chance of closing all matter.
PART 01
Look at more than price
A higher offer may also ask for more time or have a condition that has not been met. Read every part before you choose.
PART 02
Check the chance of closing
A strong offer has a sound plan for loan checks, dates and other work. No offer is risk-free, but the details help.
PART 03
Think about your own needs
A fast closing may help one seller and hurt another. The best offer depends on what the seller needs to do next.
A SMALL STEP YOU CAN TAKE
One thing to check today
Make a simple chart for price, dates, conditions and risks.
HOW TO USE THIS
If you are buying or selling
If you are buying
Know what you can promise before sending an offer.
If you are selling
Read every term and ask questions before choosing an offer.
SAVE THIS LIST
Three questions worth asking
- Which conditions could materially delay or prevent closing?
- What is the value of the proposed timing?
- Is the buyer's plan to complete credible?
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