Short answerCompare what you would net and how likely each offer is to close. Look at price minus any concessions, the loan type and preapproval strength, inspection and appraisal contingencies, any home sale contingency, earnest money, and the closing and possession dates. The highest price is not always the best offer.
A side by side checklist
| Item | What to look for |
|---|---|
| Price and concessions | Net price after any closing cost credit the buyer asks for. |
| Financing | Cash, conventional, FHA, VA, or USDA, and a preapproval from a real lender. |
| Inspection contingency | How long, and whether it is for safety items only or the full report. |
| Appraisal | Any appraisal gap coverage if the appraisal comes in low. |
| Home sale contingency | Whether the buyer must sell another home first. |
| Earnest money | The amount and when it is deposited. |
| Dates | Closing and possession dates that work for you. |
Government loan offers
FHA, VA, and USDA appraisers check for safety and soundness items that must be fixed before closing. On older homes, that can make a conventional or cash offer more certain. See what those appraisers flag.
For more than one offer at once, see how multiple offers work.
Frequently asked questions
Is a cash offer always better?
Not always. Compare the net and the certainty. A strong financed offer at a higher price may net more.
Can I counter more than one offer?
Yes, with care. Ask your agent how to handle multiple counteroffers so you do not accidentally accept two.
Keep reading
Want to know what a buyer's inspector may find before they do?
Book a free pre listing condition walk. I walk the house with you, point out what inspectors and FHA, VA, and USDA appraisers tend to flag, and give you planning ranges so you can decide what to fix, credit, price in, or disclose.
Book a condition walkOr call or text (812) 525-5489, or email john@yourpropertynegotiator.com.
The condition walk is a REALTOR® and contractor evaluation, not a home inspection, and it does not replace one. If you have already signed a listing agreement with another agent, please take these questions to your agent.
Sources
Written by John Long, REALTOR®, 1 Percent Lists Indiana Real Estate. Working contractor who has priced hundreds of home inspection repair requests. Former labor relations negotiator for a major manufacturer and U.S. Coast Guard veteran.
John Long, REALTOR® · 1 Percent Lists Indiana Real Estate · (812) 525-5489 · yourpropertynegotiator.com
This page is general information, not a substitute for a professional home inspection, and not legal, tax, insurance, or lending advice. Ask a real estate attorney about contracts and disclosure, a CPA about taxes, your lender about loan rules, and a licensed inspector or tradesperson about your house. Nothing here guarantees a sale price, net proceeds, repair cost, payment, timeline, appraisal, inspection result, or loan approval. Cost figures are planning estimates, not bids. I own Wardmark Property Operations LLC, a contracting company. You are always free to use any contractor you choose.