Seller Priorities (Weight Each Factor)
Competing Offers Analysis
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Frequently Asked Questions
Consider the complete offer package including financing strength, closing timeline, contingencies, and buyer qualifications. A cash offer at 95% of asking price often nets more than a financed offer at 100% due to certainty and faster closing. Evaluate financing pre-approval quality, down payment amount, and lender reputation. Strong buyers with 20%+ down payment and local bank pre-approval are typically more reliable than those with minimal down payment or online lender pre-approval.
Set a compelling list price slightly below market value to generate immediate interest. Schedule all showings within the first 3-4 days, then set an offer deadline. Require highest and best offers by a specific date/time. Communicate offer activity without revealing specific details to create urgency. Professional staging, photography, and strategic marketing timing (Thursday-Sunday launch) help generate maximum activity. The key is creating perceived scarcity and time pressure.
Escalation clauses can be effective but require careful handling. Set clear parameters including maximum escalation price, increment amounts, and proof of competing offers. Be prepared to provide competing offer details to validate escalations. Consider whether to accept escalation clauses or request firm offers instead. Multiple escalation clauses can become complex - sometimes it's cleaner to ask for highest and best final offers without escalation language.
In a strong multiple offer situation, ask for highest and best rather than countering individual offers. This maximizes your negotiating position and prevents losing backup offers. If offers are close, you can counter your top 2-3 offers simultaneously, but set a response deadline. Only accept an offer as-is if it's significantly stronger than others or meets all your priorities. Remember that countering one offer may result in losing others.
Create a scoring system weighing price, financing strength, contingencies, closing timeline, and other factors. Assign point values based on your priorities - some sellers prioritize certainty over maximum price. Consider the net proceeds after factoring in timeline differences, carrying costs, and risk factors. An offer with fewer contingencies and flexible closing may be worth accepting at a slightly lower price than a highly contingent offer at full price.