Here’s how to pick the best offer in a multiple-offer situation.

The Triangle market was red-hot in 2020, and more than 30% of all sellers received multiple offers. 2021 is shaping up to be just as good of a year, and if you remember the three Ps of the home-selling process (preparation, price, and promotion) which we outlined in a previous video, you stand a good chance of being in the enviable position of having multiple offers. 

It’s a great feeling, but it’s critical that you then choose the best offer. To make this decision, there are four steps you must remember:

1. Understand your options. There are a number of ways to choose or negotiate over the right offer. You can accept an offer as soon as you receive it, counter the offer, or look at all of the offers and make various decisions from there. We as agents want you to feel comfortable knowing your choices.

“The highest price isn’t always the best solution for you.”

2. Create a spreadsheet with all the key terms and conditions. Depending on your objective, you’ll make decisions based on this spreadsheet. The highest price isn’t always the best solution for you.

3. Review the key terms. These include:

  • Price
  • Due diligence
  • Earnest money
  • Inspection and settlement dates
  • Buyer financing
  • Personal property

4. Choose the offer that best meets your objectives and reaches the closing table.

I’d love to talk more about how we can generate multiple offers for you, pick the best one, and bring it to the closing table, so if you have any questions regarding this topic, don’t hesitate to reach out to me. I look forward to speaking with you.