Well, as this vignette shows, there’s more to an offer than the price tag. Factors you should consider when you evaluate offers:
- Is this offer at, near or above my asking price?
- Are there clauses and additions in their offer that change the terms and final price substantially?
- How long since I had another offer, or expect another offer? Can I wait?
Remember every month you’re probably still paying mortgage, taxes and insurance. If you have several offers… remember that an offer isn’t a completed sale.
Compare the risk and likelihood of a completed sale for each buyer including things like “contingencies”, where your sale depends on their sale. and whether they’re pre-approved for the offer they’re making.
Remember you have three options when you evaluate offers – accept, reject, or prepare a counter-offer(s) that improve(s) the terms for you in some way.