When your home is on the market, you may receive offers from multiple interested buyers. Offers can vary greatly, and you will need to determine which one is best for you. How can offers differ? While price is a key consideration, other elements—such as financial terms, contingencies, closing timeline, and earnest money—can also vary. The strongest offer isn’t always the highest one. How do I decide which offer is best for me? Your Forever AgentSM will help you evaluate each offer based on your needs and priorities. For example, if timing is key, a faster closing may be more appealing than a higher price. What is a counteroffer? When a seller “counters” an offer, they respond to a potential buyer’s offer with different proposed terms. This could mean asking for a higher or the same price but with different terms, contingencies, or timing. In some cases, sellers may disclose details about one buyer’s offer to convince another buyer to make a “better” offer. It is important to remember that sending a counteroffer voids the original offer, so the seller cannot go back and accept the original offer. How can I negotiate multiple offers? You can accept the strongest offer or use strategies like inviting all buyers to submit their best offer, countering one while holding off on others, or rejecting some outright. Each approach has risks—some buyers may walk away. Your Forever AgentSM provides expert guidance to help you navigate these decisions and choose the strategy that best aligns with your goals. What is an escalation clause? When buyers face the possibility of competing offers, they may decide to include an escalation clause in their offer, subject to applicable law, which allows them to disclose exactly how much they are willing to increase their original offer by if the seller receives a higher offer and the highest they will go overall. Am I required to make seller concessions when negotiating a purchase agreement? No, but offering to cover certain buyer costs—like repairs or fees—can help secure a stronger or faster offer. Any agreed-upon concessions should be clearly included in the purchase agreement. INVESTED. CONNECTED. INFORMED. NAVIGATING MULTIPLE OFFERS
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