Price & Other Terms
What is the Seller’s objective in multiple offers?
If you said, “obtain the best offer,” you’d only be half-right; the better answer is, “obtain the best offer from the strongest Buyer.”
“Eyes on the Prize” (Closing)
That second, broader criterion takes into account not just the selling price, but such things as the Buyer’s downpayment; closing date; Inspection and Financing Addenda terms; and — certainly not least important — the Buyer’s agent and lender.
Especially in multiples with trailing Comp’s at lower prices — always true in a rising market — the strongest offer is ultimately the one that can best withstand the challenges that inevitably come after the Purchase Agreement is signed.
See also, “Tiebreaker in Multiple Offers: the Buyer’s Loan Officer“; and “Getting the Edge in Multiple Offers.“
