How to compare offers
- Price. Is it supported by the comps, or does it risk a low appraisal?
- Financing. Cash is cleanest. Conventional with 20% or more down is strong. FHA and VA loans have extra appraisal conditions worth understanding.
- Closing date. A 21-day close and a 45-day close can matter a lot depending on your plans.
- Contingencies. Inspection and appraisal contingencies are standard. A shorter inspection period favors you.
- Appraisal gap coverage. A buyer can agree to cover some or all of the difference if the home appraises below the price.
- Concessions requested. Many buyers ask for help with closing costs or a rate buydown. Compare offers on what you actually net.
Repair requests (BINSR)
After inspections, the buyer sends a Buyer's Inspection Notice and Seller's Response. You have 5 days to respond. You can agree, agree to some items, offer a credit instead, or decline. If you don't respond, it counts as declining, and the buyer then has 5 days to cancel or move forward. Treat it as a negotiation.
Multiple offers
If more than one offer comes in, I can ask every buyer for their highest and best by a clear deadline. That keeps it fair and gets you the strongest terms.
Common questions
What happens if my house doesn't appraise in Arizona?
The buyer can ask you to lower the price, cover the gap in cash, or, if they have an appraisal contingency, cancel. You can also meet in the middle. Pricing accurately from the start is the best protection.
Do I have to make the repairs a buyer asks for?
No. You can agree, offer a credit, make some repairs, or decline. The buyer can then decide whether to proceed or cancel within the contract deadline.
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