An offer comes in on your house, and your eyes go straight to the price. Mine would, too.
But before you start planning what to do with that money, let’s read the rest. What is the buyer asking you to pay? When do they want to close? What needs to happen before they can buy?
Those details can change how an offer works for you. When I review offers with my sellers, I want us looking at the money, the timing, and the possible bumps along the way. You shouldn’t have to guess what you’re agreeing to.
Start with what you might actually receive
The offer price is a starting point. Your estimated proceeds are what may be left after your mortgage payoff, selling expenses, and any costs you agree to cover for the buyer.
Seller concessions are contributions toward eligible buyer expenses. They can help make a purchase possible, so a request for them doesn’t automatically make an offer weak. We just need to include them in the comparison.
Here’s a made-up example to show why the headline price doesn’t tell the whole story:
Item | Offer A | Offer B |
|---|---|---|
Purchase price | $310,000 | $305,000 |
Requested seller-paid buyer costs | $9,000 | $2,000 |
Price minus that contribution | $301,000 | $303,000 |
Offer B starts $5,000 lower but leaves $2,000 more after that one requested contribution. These figures are not final net proceeds. They don’t include your mortgage payoff, brokerage compensation, title charges, taxes, repairs, or other expenses. Those still need to be estimated for each offer.
My Missouri closing costs guide explains the main categories. When we have an actual offer, we can put the numbers side by side.
Look at the financing without making assumptions
A cash offer and an offer with financing may have different steps to complete. But “cash” doesn’t make every other term disappear, and a loan program’s name doesn’t tell us everything about the buyer’s ability to close.
I want to know what documentation supports the offer. For a financed buyer, what has the lender reviewed? Are there remaining approval conditions? Does the proposed timeline work for the lender and the property? For a cash buyer, is there appropriate proof of available funds?
A preapproval is helpful, but it isn’t a guarantee. Likewise, a larger down payment alone doesn’t settle which offer is best. We’ll review the actual terms and relevant documentation instead of assuming one buyer is stronger based on a single detail.
Read the conditions and their deadlines
A contingency makes the purchase dependent on a stated condition. My guide to contingencies explains the basics. For an offer comparison, I want you to understand what each condition allows and how long it lasts.
Inspection provisions set out the buyer’s opportunity to evaluate condition and the process for responding to concerns. Financing provisions address obtaining the required loan. A home-sale or home-closing condition connects this purchase to another transaction.
For each one, ask: What must happen? By when? What notice is required? What options does the agreement give each party if it doesn’t happen?
We’ll read the wording in front of us. Two offers can use the same general label and still leave you with different obligations.
Separate the appraisal from the buyer’s contract protections
An appraisal is an opinion of value that a lender generally uses when evaluating the property for a loan. An appraisal contingency is a provision in the purchase agreement. They’re related, but they aren’t the same thing.
A low appraisal doesn’t automatically require you to lower the price. Whether the buyer can request a change or terminate depends on the agreement and any applicable loan-program provisions. The lender separately determines what it will finance.
If an offer includes an appraisal-gap commitment, we need to read its limits and consider whether the buyer has documented the funds to meet it. A promise to cover a gap deserves a closer look than the phrase alone.
I explain the possible next steps in what happens when a Missouri home appraisal comes in low.
Consider earnest money in context
Earnest money is the buyer’s good-faith deposit. Review the amount, delivery deadline, holder, and release terms together. A larger deposit doesn’t guarantee closing or automatically become yours if the purchase falls through.
The contract and circumstances determine the parties’ rights to it. If there’s a dispute, get legal guidance rather than treating the deposit as available money.
Make sure the dates work for your move
A fast closing sounds good until you realize you need another week to move everything out of the shop.
Look at both closing and possession. Closing addresses completing the transaction; possession addresses when the buyer is entitled to occupy the property under the agreement. Don’t assume the dates and times are identical.
If you need to remain after closing, that arrangement needs careful written terms addressing timing, costs, responsibilities, and other requirements. We should also confirm that it works with the buyer’s financing and insurance arrangements.
If you’re coordinating another purchase, my guide to selling before buying or buying before selling can help you think through the bigger plan.
Choose how to respond before the offer expires
You may accept an offer, decline it, or propose different terms. If there are multiple offers, we can discuss whether to select one, negotiate with a buyer, or invite revised offers.
Start with the response deadline. Waiting for another showing or offer carries a tradeoff: the offer you have may expire or be withdrawn as permitted. Asking for stronger terms can also lead a buyer to walk away.
A counteroffer changes the proposed agreement. Don’t assume the original offer remains available afterward. Before we send anything, I’ll walk through the changes and response process with you.
We’ll document agreed terms in writing and follow the required signing and delivery steps. A friendly phone conversation about a price isn’t a substitute for completing the agreement.
With multiple buyers involved, coordination matters. We need a clear process that avoids conflicting commitments. Once you’re under contract, a later, higher offer is not a reason to assume you can simply cancel the first sale.
Keep the comparison focused on the offer
Review price, documented ability to perform, contract protections, and timing. Personal details in a buyer’s story shouldn’t drive the decision. I want us evaluating offers fairly and consistently.
It can help to write down your priorities before offers arrive. Is your main concern the amount you receive, coordinating your next home, or limiting the uncertainty of a longer transaction? Knowing that makes the tradeoffs easier to discuss.
You don’t have to sort through it alone
Whether you have one offer or several, you deserve time to understand the details within the deadlines involved. I’ll explain the options, help you compare them, and give you my recommendation. The decision is yours.
If you’re preparing to sell in Blue Springs, Grain Valley, Lee’s Summit, Oak Grove, or the surrounding Missouri communities, get in touch. We can start with your home and your plans, well before there’s an offer waiting for an answer.
This is general information. Your agreement controls the specific rights, deadlines, and obligations involved. An attorney can advise on legal interpretations or disputes.
Further reading: NAR’s guide to navigating multiple offers.
