When multiple offers arrive, most sellers' eyes go straight to the price line — and price is where more than a few sales quietly go wrong. The highest number is only the best offer if it survives to closing at that number. Evaluating offers is really a two-question exercise: what will this offer actually net, and what's the probability it closes? Here's the checklist behind both.
Question One: The True Net
- Concessions and credits: a $780,000 offer asking $15,000 in credits nets like $765,000. Compare nets, not headlines.
- Who pays what: proposed allocation of buyer-agent compensation, escrow, title, and repairs moves real money between the columns. Line the offers up on a net sheet side by side.
- Terms with cash value to you: a free rent-back when you need one, or a close date that saves you a month of carrying costs, belongs in the math too.
Question Two: The Probability of Closing
- Financing strength: a true underwritten pre-approval outranks a quick pre-qualification letter. Down payment size matters twice — it signals resources and it shrinks appraisal-gap risk, since a big-down buyer can absorb a low appraisal that would sink a minimum-down loan.
- Appraisal posture: an offer with appraisal-gap coverage (\"buyer to cover up to $X above appraised value\") is structurally stronger than the same price without it — as our appraisal-gap post showed, that clause is worth real dollars in a drifting market.
- Contingency profile: shorter investigation and loan periods, or waived contingencies from a well-qualified buyer, compress the window in which the deal can die. Every contingency day is optionality the buyer holds and you grant.
- Deposit size: earnest money is the buyer's skin in the game once contingencies come off. Bigger deposits correlate with serious intent.
- The contingent-sale question: an offer contingent on the buyer selling their current home imports a second transaction's risk into yours. Sometimes acceptable; never free.
The Comparison in Practice
Have your agent build a grid: each offer's true net, financing strength, contingency timeline, appraisal posture, deposit, and terms. Then decide what you're optimizing for — maximum net, maximum certainty, or a specific timeline — and pick accordingly. A $770,000 offer with 40% down, gap coverage, ten-day contingencies, and your rent-back can genuinely beat $785,000 with 5% down and a financing profile built on hope. And keep the runners-up warm: accepting one offer with one or two in backup position converts your multiple-offer moment into insurance for the whole escrow.
One More Lever: Counter the Best, Don't Just Accept It
Multiple offers are leverage, and leverage is for using — a multiple-counter process can improve price and terms simultaneously. But wield it with judgment: overplaying a thin hand loses buyers, and the strongest offer sometimes deserves a clean, fast yes. Reading that line is what an experienced negotiator is for.
JP Dauber is a licensed California broker (DRE #01499918) with 21+ years and 169+ transactions of offer grids, counters, and closings across the Inland Empire. SoldByJP provides full-service home selling — negotiation included — at a 1% listing fee. Get your free home valuation →