{"id":47979,"date":"2024-09-16T15:25:35","date_gmt":"2024-09-16T22:25:35","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=47979"},"modified":"2025-01-28T10:29:46","modified_gmt":"2025-01-28T18:29:46","slug":"multiple-offers-on-house","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/multiple-offers-on-house\/","title":{"rendered":"Multiple Offers on a House: 7 Tests to Select the Best"},"content":{"rendered":"<p>If you\u2019re selling a house, it\u2019s likely you\u2019re juggling some fragile objectives you can\u2019t afford to drop \u2014 from timing the sale to having enough money for your new home. Receiving multiple offers on a house can reduce the risk of delays, fallen deals, and the universal fear of lost proceeds.<\/p>\n<p>With the help of two top-rated real estate agents, we\u2019ve created a 7-factor test to help you decide between multiple offers on your home. Whether you\u2019re looking for the highest price or a quicker, hassle-free closing, this guide will help you weigh your options and choose with more confidence.<\/p>\n<p>\n\n\n\n\n<div class=\"geo-cta widget-cta widget-cta--content     widget-cta--dark widget-cta--dark-blue-gradient\">\n    <div class=\"widget-element--content\">\n        <div class=\"widget-element--content-header\">\n            <img decoding=\"async\" alt=\"homelight logo\" class=\"widget-element--logo\" src=\"https:\/\/www.homelight.com\/blog\/wp-content\/themes\/ccprototypev5\/images\/logo-small-cta.png\" width=\"106\" height=\"25\" \/>\n        <\/div>\n        \n                <h3 class=\"cta-headline widget--bold\">Sell Faster and for More Money With a Top Agent<\/h3>\n                        <p class=\"p1\">HomeLight data shows that the top 5% of real estate agents sell homes faster and for up to 10% more than average agents. Try HomeLight\u2019s free Agent Match tool to consult with the highest-performing agents in your market.<\/p>\n        \n                <div class=\"widget-element--buttons\">\n            <a data-type=\"In Content CTA\" href=\"https:\/\/www.homelight.com\/find-agent\/quiz\/seller?#\/qaas=0\/\" class=\"cta-click-track widget-element--button\">Get Started<\/a>\n        <\/div>\n                    <\/div>\n<\/div>\n\n <div id=\"section--1\" data-toc-header=\"1: Highest offer price\" data-toc-type=\"head\"><\/div><\/p>\n<h2>Test 1: Highest offer price<\/h2>\n<p>The first factor sellers tend to look at is the offer price. Naturally, a higher price seems appealing, but it\u2019s essential to consider whether it\u2019s realistic and supported by the buyer\u2019s financials.<\/p>\n<p>\u201cThe highest offer is sometimes not the best offer,\u201d says <a href=\"https:\/\/www.homelight.com\/agents\/bethany-white-va-0225187486\">Bethany White<\/a>, a top Virginia agent who works with 80% more single-family homes than average agents in her market. \u201cVerify all funds and make sure you&#8217;ve checked out the agent. Make sure you feel confident enough that they will be able to bring this into escrow and to closing.\u201d<\/p>\n<p>Some buyers may offer more or submit a high cash offer in hopes of outbidding others, only to request a reduction later in the process.<\/p>\n<p>\u201cI&#8217;ve seen it many, many times,\u201d says <a href=\"https:\/\/www.homelight.com\/agents\/thomas-taranto-fl-03096946\">Thomas Taranto<\/a>, a HomeLight Elite agent in Florida with more than 20 years of experience. \u201cThey beat everybody out because of the high cash offer, and then they (strategically) are a little nitpicky on the home inspection and come back and try to get a pretty massive price drop later.\u201d<\/p>\n<p>Taranto considers this a sneaky tactic but warns that it happens. \u201cWhen you put all of the offers on the table next to each other, be certain to analyze them merit for merit.\u201d<\/p>\n<div id=\"section--2\" data-toc-header=\"2: Fewest or no contingencies\" data-toc-type=\"head\"><\/div>\n<h2>Test 2: Fewest or no contingencies<\/h2>\n<p><a href=\"https:\/\/www.homelight.com\/blog\/what-does-contingent-mean-in-real-estate\/\">Contingencies<\/a> are conditions that must be met for the sale to proceed. For example, a buyer that submits an offer with a <a href=\"https:\/\/www.homelight.com\/blog\/buyer-home-sale-contingency\/\">home sale contingency<\/a> means that their offer will only move forward if they can sell their existing home. Fewer contingencies typically make the deal smoother and quicker.<\/p>\n<p>\u201cMake sure that the contingencies aren&#8217;t spaced out over a long period of time, keeping your home off of the market,\u201d White suggests. \u201cDepending on the size of the home and everything involved, you want to try and remove all contingencies within the first two weeks.\u201d<\/p>\n<p>In an active seller\u2019s market, <a href=\"https:\/\/www.homelight.com\/blog\/buyer-non-contingent\/\">non-contingent offers<\/a> will almost always beat contingent offers.<\/p>\n<p>\u201cWhen I work with buyers that say, \u2018I&#8217;m going make a contingent offer,\u2019 they have to understand that nine out of ten sellers will say \u2018No\u2019 right off the bat,\u201d Taranto says. \u201cMy goal is to work with them on a number of different strategies. One of them is the HomeLight Buy Before You Sell program that I don&#8217;t think a lot of people know about.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Learn how to choose the best offer with expert tips on handling multiple offers on a house. Maximize your home&#8217;s sale with confidence.<\/p>\n","protected":false},"author":298,"featured_media":47980,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"cybocfi_hide_featured_image":"","footnotes":""},"categories":[322,342],"tags":[],"class_list":["post-47979","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-logistics","category-negotiations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Multiple Offers on a House: 7 Tests to Select the Best<\/title>\n<meta name=\"description\" content=\"Learn how to choose the best offer with expert tips on handling multiple offers on a house. 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