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So how do you choose the best one?
Concessions
One is whether the buyer is requesting concessions of any kind, Powell said.
Powell explained that sometimes, buyers will increase their offer price and then ask for closing concessions.
Understanding and being able to strategically negotiate concessions is a key factor in comparing multiple offers.
She said, If a buyer is using financing, are they fully pre-approved by their lender?
How is their lenders reputation for closing on time and for consistent communication?
The best offer in the world is useless if the buyer isnt able to close.
Is the closing date convenient for the seller?
This includes fully researching their proof of funds, financing approval, lender and agent, she explained.
But do give them enough time to reconsider their position, she said.
Sometimes a lower offer might actually net the seller more, she said.
Powell explained that another common mistake is not factoring in appraisal.
Financed offers, and many cash offers, require an appraisal, she said.
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