You Got an Offer on Your Home. What Happens Next?
The first number you will probably look at is the price.
Do not stop there.
Before you accept, counter or decline, we want to know four things: How much money are you likely to keep? What is the buyer asking you to agree to? What could keep the transaction from closing? Does the timing work for you?
Look at Money, Terms, Risk and Timing
Money
What is the price, what is the buyer asking you to pay and what are you likely to keep?
Terms
What inspection rights, financing provisions, appraisal terms, contingencies and other conditions are in the offer?
Risk
What could allow the buyer to cancel, renegotiate or make the closing less predictable?
Timing
When would you close, when would the buyer take possession and do those dates work for your move?
What Is Happening at This Milestone?
What Is Happening
A buyer has put proposed price, terms, deadlines and contingencies into writing.
What You Need to Do
Review the entire offer. Understand what you may keep, what the buyer can still do and what you are agreeing to do.
What I Am Doing
Breaking the offer into dollars, terms, deadlines and risk so you can see the decision instead of guessing from the purchase price.
Is the Highest Offer Always the Best Offer?
No.
A higher price can come with higher seller costs, weaker financing, more contingencies, greater appraisal exposure or timing that does not work for you.
A lower-priced offer can sometimes leave you with more money or give you a more straightforward path to closing.
Start with the whole offer.
Price tells you what the buyer proposes to pay. The rest of the contract tells you what the buyer wants in return and what has to happen before you get to closing.
What Should a Seller Review in a Home Offer?
Price and Seller Net
Start with the purchase price, then identify the expenses the offer may create for you.
Earnest Money
How much is the buyer depositing, when is it due and what does the contract say about that deposit?
Financing
Is the buyer paying cash or using financing? What financing deadlines and contingencies apply?
Inspection
How long does the buyer have to inspect, and what rights does the contract give the buyer during that period?
Appraisal
Does the offer include appraisal protection? What happens if an appraisal does not support the contract price?
Seller Costs and Concessions
Is the buyer requesting money toward closing costs, repairs, a home warranty, title-related costs or another seller-paid expense?
Buyer-Broker Compensation
If seller-paid buyer-broker compensation is requested, treat it as a separate negotiable transaction expense and include it when estimating your net.
Closing and Possession
Does the closing date work for your move? When would the buyer receive possession and the keys?
Offer Price Is Not the Same as the Money You Keep
Two buyers can offer different prices and still leave you with very different amounts of money.
Simple example
Buyer A: $500,000 purchase price and asks you to contribute $15,000 toward the buyer's closing costs.
Buyer B: $493,000 purchase price and asks for no closing-cost contribution.
Looking only at those two numbers, Buyer A leaves $485,000 before other seller expenses. Buyer B leaves $493,000 before other seller expenses.
That is an $8,000 difference even though Buyer A offered the higher price.
That still does not automatically make Buyer B the stronger offer.
Financing, inspections, appraisal protection, deadlines and other terms still need to be compared.
You Should Understand the Offer Before You Decide
I do not want to label an offer “good” or “bad” and expect you to take my word for it.
My job is to show you what is in the offer, what the numbers mean, where the risk is and what choices you have.
Things That May Strengthen an Offer
- Price supported by the rest of the offer.
- Meaningful earnest money.
- Strong financing or verified cash.
- Reasonable inspection period.
- Limited seller-paid expenses.
- Closing date that works for you.
- Fewer complicated contingencies.
Things That May Add Cost or Risk
- Large seller-paid concessions.
- Uncertain financing.
- Long contingency periods.
- Appraisal exposure.
- Sale-of-another-home contingency.
- Low earnest money.
- Terms that make closing less predictable.
Is a Cash Offer Automatically Better?
No.
Cash can remove financing and lender-appraisal issues. That can make a transaction simpler.
But a cash buyer can also offer less, request concessions, ask for a long inspection period or include other terms that matter to you.
Look at the actual offer.
Do not assume a large price discount makes sense simply because the buyer is paying cash.
Every Offer and Contract Has Deadlines
An offer may include an expiration time for your response.
If you accept and a contract becomes effective, additional deadlines begin according to the agreement.
Deposit
The contract may require the buyer to deliver earnest money within a stated period.
Inspection
Inspection deadlines depend on the contract you sign.
Financing and Closing
Financing, appraisal, title and closing provisions can all affect the transaction.
You Have Three Basic Choices
Accept
If the price, terms, costs and risk work for you, you can accept the offer as written.
Counter
You can propose different price, costs, deadlines, deposits, closing terms or other changes.
Decline
If the offer does not work for you and you do not want to counter, you can choose not to accept it.
A counteroffer changes the negotiation.
A counter proposes different terms for the buyer to consider. Before countering, understand what changing the offer means under the contract being used.
Put the Offers Side by Side
Do not compare one offer by price and another by financing. Compare each offer across the same categories.
- Purchase price.
- Estimated seller net.
- Earnest money.
- Financing.
- Inspection period and rights.
- Appraisal provisions.
- Seller concessions.
- Buyer-broker compensation requested from seller.
- Closing date.
- Possession.
- Other contingencies and terms.
The Offer Has to Work for Your Sale
One seller may care most about the money.
Another may need a specific closing date because of a PCS move, another home purchase or relocation.
A vacant-home seller may care more about reducing uncertainty and getting to closing.
That is why an offer cannot be evaluated from a generic checklist alone.
Your goals, the dollars, the contract terms and the risk belong in the same conversation.
Once You Have a Contract, the Job Changes
Before acceptance, you are deciding whether you and the buyer can reach an agreement.
After the contract becomes effective, you are managing a transaction with deadlines, rights and obligations.
The Buyer Starts Performing
Depending on the contract and financing, earnest money, inspections, loan work, insurance, appraisal and title work may begin.
The Seller Has Work Too
We track the transaction, respond to issues, work through inspection and repair questions, prepare for appraisal and keep the sale moving toward closing.
Next Seller Milestone: Home Inspection
Once you are under contract, the buyer may begin the inspection process quickly.
Your next job is not to start repairing everything you can think of.
Make important areas accessible, make a plan for pets and understand the inspection rights in the contract.
You Are Here: You Got an Offer
Selling becomes easier to understand when you know what is happening now, what decision is in front of you and what comes next.
You Got an Offer
Previous Milestone: Listing Goes Live & Showings
Understand showing requests, buyer access, feedback and what the market is telling us once your listing is active.
Listing Live & Showings →Next Milestone: Home Inspection
Make the property accessible, make a plan for pets and understand what the buyer's inspection does and does not mean.
Home Inspection Checklist →Questions Sellers Ask When an Offer Arrives
Is the highest offer always the best offer?
No. Seller costs, financing, inspection rights, appraisal provisions, closing date, earnest money and other contingencies can make offers with similar prices very different.
Should I accept a cash offer over a financed offer?
Not automatically. Cash can remove financing and lender-appraisal issues, but price, inspection rights, concessions, deadlines and other terms still matter.
What is earnest money?
Earnest money is a buyer deposit handled according to the contract. Review the amount, deadline and contract provisions governing the deposit as part of the offer.
What if the buyer asks me to pay their closing costs?
Put the request in dollars. Compare the purchase price, requested concession, estimated seller net, financing, appraisal provisions and the rest of the offer before deciding how to respond.
Can I counter only part of an offer?
A counteroffer can propose changes to selected terms. Before making a counteroffer, review what the proposed changes mean under the contract being used.
Should I consider appraisal risk when reviewing an offer?
Yes, when financing or the contract makes the appraisal relevant. A high purchase price can create a problem if an appraisal does not support the agreed price and the contract gives the buyer protection for that result.
Does a buyer's repair request start when I accept the offer?
Not necessarily. The buyer generally performs inspections according to the signed contract first. What an inspector observes, what a buyer later requests and what the contract requires are separate questions.
Can the seller pay the buyer's broker?
Seller-paid buyer-broker compensation can be negotiated as part of a transaction. If requested, show it separately so you understand the dollar amount and how it affects your estimated seller net.
Go Deeper Where You Need To
Seller Concessions
Learn how buyer closing-cost requests affect your estimated net and what to compare before agreeing.
Seller Concessions Guide →Seller Net Sheet
Turn the offer price into an estimate of the money you may actually keep.
Seller Net Sheet →Negotiating the Offer
Understand the reasoning behind a counteroffer instead of simply splitting the difference.
Negotiating an Offer →Home Inspection
Understand what to do before the buyer's inspector arrives.
Home Inspection Checklist →Price Is Only the First Number in the Offer
We look at what you may keep.
We look at what the buyer is asking for.
We look at the deadlines and the risk.
Then you decide whether accepting, countering or declining makes sense for you.
Important Notes
Every offer is different. The purchase contract, completed blanks, riders, addenda, financing terms, inspection language, deadlines and additional terms determine the rights and obligations in a specific transaction.
Real estate broker compensation is negotiable and is not set by law. Uber Realty listing-side compensation is separate from any seller-authorized buyer-broker compensation, concessions, repairs and other transaction costs.
This page provides general real estate information for home sellers in Niceville, Shalimar and Fort Walton Beach. It is not legal, tax, lending, appraisal or title advice. When a specific contract issue requires legal interpretation, a Florida real estate attorney should be consulted.
Jim Whatley, Broker/Owner • Uber Realty LLC • 850-499-2940 • jim@uberrealty.com
Florida Broker License BK3174026 • Florida Brokerage License CQ1038333 • Equal Housing Opportunity