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Home » Do I Have to Accept the Highest Offer?

Do I Have to Accept the Highest Offer?

November 16, 2020 by Karen Baker 1 Comment

Do I Have to Accept the Highest Offer?

We know that this may seem like a silly question, however, there are a few reasons as to why a seller may wonder if they have to accept the highest offer that is placed. Ultimately, most sellers want to make as much off of their sale as possible, however, there are a few reasons as to why even the highest offers may not always be the best offers.

Related: Why Was my Offer Rejected?

A common misconception with selling a home is that you have to accept the highest offer that is placed; however, this isn’t true. As the seller, you have a right to accept whichever offer you want to, regardless of if it is the highest or the lowest as this is your right as the property owner. There are quite a few reasons why you may want to accept an offer that isn’t the highest that is placed, however here are a few of the most common examples.

Selling to a Friend or Family

Even if you plan to sell your home to a friend or family member, oftentimes you will still receive additional offers, especially if your home has been listed through the MLS. This could result in receiving higher offers than that of the price your friend or family was going to pay. This does not mean you have to accept the higher offer and can move forward with the sale as planned.

The Highest Offer Contains Contingencies

In some instances, the highest offer may be scattered with multiple different contingencies. These contingencies are set to protect the buyer, but often the seller will decide to accept a lower offer solely because it has fewer or no contingencies as this is a “safer” offer to accept.

Related: 5 Ways to Get Your Real Estate Offer Accepted

An All-Cash Offer Has Been Placed

If an all-cash offer has been placed, even if it is lower than other offers, oftentimes the seller will choose to accept the cash offer. All-cash offers can not only move along the closing process faster but without the need of approved financing, all-cash offers are generally safer and don’t fall through as often as regular financed offers.

Whether it be friends and family, contingencies, or an all-cash offer, ultimately it is up to you as the seller to decide which offer would suit you and your wants the best. In some cases that may be the highest placed offer, however, when it comes to accepting an offer, you have the final say.

If you’re currently searching for a qualified seller’s agent to assist you with the sale of your property, are searching for a new home, or have general questions regarding North Carolina real estate, please feel free to contact our office at any time. 

Additional Tips for Sellers:

  • Is it Safe to Sell a House Right Now?
  • How Does a Real Estate Listing Go Viral?
  • What to Do if Your House Isn’t Selling
  • How to Sell a Beach Home FAST
  • Accent Walls that Add Value
  • This One Thing Might Decrease Your Home’s Value
  • How to Improve Your Real Estate Listing Photos
  • Home Stagers Offer 5 Tips to Selling a House

Filed Under: Sellers Tagged With: real estate offer, seller

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“Life will lead you to where you belong. Five years ago life led me to meeting Karen Baker at an Open House. Our relationship continues as Karen and her husband Frank have been outstanding not only in helping my husband and I find the right retirement relocation home, but we have watched their commitment in helping many others find their homes. She and Frank treat every client as if they are the only ones that exist. They provide thorough research of areas and homes of interest and present you with the options. They are not your typical hard sell, must-buy-now realtors. They are here to help you find your next home?. You won’t go wrong with the Bakers!
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Amy and I have bought and sold four properties in the past twelve years. Both of you are the best realtors we have ever dealt with. Amy and I both felt we could trust you to look out for our interest. The level of service you provided was outstanding, from taking the trash out, helping the buyer with inspecting the irrigation system, dealing with our tenants, always being there if we needed to ask a question, providing constant updates on the market and always keeping us informed on the sale of our house. I think your next venture should be training other realtors, because both of you have mastered the art of providing excellent service. I will be sure to recommend the Frank and Karen team to anybody looking for a trust worthy, knowledgeable and top performing realtor. It was a pleasure working with both of you.”
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