Not Sure Which Offer to Accept on Your Ankeny Home?
Receiving an offer on your home is exciting—but what happens when you get multiple offers? How do you decide which one is truly the best deal? Many sellers assume the highest price is the best choice, but other factors—like financing type, contingencies, and closing timeline—can impact the success of your sale.
At Allison Hart Home Team, we specialize in helping homeowners in Ankeny evaluate offers strategically to maximize profit and minimize risk. In this guide, we’ll break down how to compare offers, negotiate better terms, and make the smartest decision for your home sale.
1. What Makes an Offer “Good”?
Before accepting an offer, consider these key elements:
✔ Purchase Price: The amount the buyer is offering to pay.
✔ Financing Type: Cash buyers typically close faster and have fewer risks than buyers using a mortgage.
✔ Earnest Money Deposit: A larger deposit shows the buyer is serious about purchasing your home.
✔ Contingencies: Fewer contingencies (such as inspections, appraisals, or selling another home first) mean a more secure deal.
✔ Closing Timeline: A closing date that aligns with your plans can be just as valuable as a higher price.
💡 Pro Tip: The best offer is not always the highest price—it’s the one that gives you the most security and convenience.
2. Comparing Offers: What to Look For
If you receive multiple offers, it’s essential to compare all terms carefully. Here’s what to consider:
A. Price vs. Net Proceeds
While a high offer is appealing, your net proceeds (what you actually take home) matter more.
💰 A buyer offering $10,000 over asking but requesting seller-paid closing costs may net you less than a lower offer with fewer requests.
B. Cash vs. Financed Offers
✔ Cash Offers: No mortgage means a faster, more secure closing.
✔ Conventional Loans: These have fewer restrictions than FHA or VA loans.
✔ FHA & VA Loans: Government-backed loans often have stricter appraisal and inspection requirements.
💡 Pro Tip: A cash offer that’s slightly lower may be safer than a financed offer with appraisal risks.
C. Contingencies: What Could Delay Your Sale?
A contingency is a condition the buyer must meet before the sale is finalized. The fewer contingencies, the less risk for you.
🚩 Common Buyer Contingencies:
- Inspection Contingency: The buyer can renegotiate or walk away if issues arise.
- Appraisal Contingency: If the home appraises for less than the offer, the buyer may ask you to lower the price.
- Home Sale Contingency: The buyer must sell their current home before purchasing yours.
💡 Pro Tip: An offer with no contingencies is usually more reliable, even if the price is slightly lower.
3. Should You Accept the First Offer?
It’s tempting to accept a strong offer right away, but waiting a little longer could bring in even better options. Here’s when you should consider holding off:
✔ If the home has only been listed a few days, waiting could generate more competitive offers.
✔ If the offer has risky contingencies, you may want to see if better terms come in.
✔ If the buyer’s financing seems uncertain, you may want to consider a more secure option.
💡 Pro Tip: A trusted Ankeny real estate agent like Allison Hart can help you weigh the pros and cons of accepting early offers vs. waiting for a better one.
4. How to Negotiate for a Better Offer
If none of the offers are perfect, you have negotiation power. Here’s how to get better terms:
Option 1: Counteroffer the Best Offer
If one offer stands out but needs slight improvements, you can counter with better terms.
💡 Example:
- Increase the earnest money deposit for more buyer commitment.
- Remove or reduce inspection contingencies.
- Adjust the closing date to fit your schedule.
Option 2: Ask for “Highest and Best” Offers
If multiple buyers are interested, you can ask for their highest and best offer by a set deadline.
✔ This creates a competitive environment, often leading to better price and terms.
💡 Pro Tip: The Allison Hart Home Team can strategically manage multiple offers to maximize your sale price.
5. What If the Offer Falls Through?
Even after accepting an offer, things don’t always go as planned. Here’s how to protect yourself:
✔ Keep Backup Offers Open: If the first deal falls through, a backup buyer can step in.
✔ Understand Buyer Financing Risks: If the buyer is using a mortgage, there’s a chance loan approval could fail.
✔ Have a Plan for Appraisal Gaps: If the home appraises for less than the offer price, you’ll need to renegotiate or find a buyer willing to cover the difference.
💡 Pro Tip: Choosing an offer with strong financing and fewer contingencies reduces your risk of delays or cancellations.
6. How an Experienced Ankeny Realtor Helps You Choose the Best Offer
Handling multiple offers can be stressful, but working with an expert Ankeny Realtor ensures you get the best deal possible.
Here’s how Allison Hart and the Allison Hart Home Team help sellers:
✔ Break Down Offers Clearly: We analyze price, financing, contingencies, and closing timelines.
✔ Negotiate Stronger Terms: We work to remove risky contingencies and secure better offers.
✔ Protect Your Interests: We help you avoid common pitfalls and ensure a smooth closing.
✔ Maximize Your Profit: We create strategies that encourage bidding wars and higher sale prices.
💡 Pro Tip: Having the right agent by your side makes all the difference in securing the best possible deal.
7. Final Steps: Accepting the Best Offer & Closing the Sale
Once you’ve chosen the best offer, here’s what happens next:
1️⃣ Sign the Purchase Agreement: The contract is finalized with agreed-upon terms.
2️⃣ Complete Inspections & Appraisals: If applicable, the buyer’s lender will arrange an appraisal and inspections.
3️⃣ Prepare for Closing: The final paperwork is completed, and the buyer transfers funds.
4️⃣ Celebrate Your Successful Sale!
💡 Pro Tip: Choosing the right offer from the start ensures a stress-free closing process!
Thinking About Selling? Let the Allison Hart Home Team Help!
Choosing the best offer is one of the most important decisions when selling your home. Whether you’re handling multiple offers or need guidance on negotiations, the Allison Hart Home Team is here to help!
📞 Contact us today for expert advice on selling your home in Ankeny and getting top dollar for your property!
