Your Real Estate agent will notify you when there are offers to purchase your home. Ideally, you want to meet with him/her in person to review these offers and the merits of each. 

Reviewing Received Offers

When you receive an offer, it’s not just the price you need to consider. An offer includes various elements such as the buyer’s financing, closing date, contingencies, and more. Thoroughly review each offer with your real estate agent to understand the implications of all terms and conditions.

Evaluating Terms of the Offer Beyond Just Price

While the proposed purchase price is a significant factor, other aspects of the offer can also impact the decision:

1. Financing: Is the buyer pre-approved for a mortgage, or is the sale contingent on obtaining financing? A cash offer might be more appealing as it typically involves fewer complications and can close faster.
2. Contingencies: These are conditions that must be met for the sale to go through, such as the buyer selling their current home, the property passing an inspection, or the appraisal meeting a certain value. Fewer contingencies generally mean less risk of the deal falling through.
3. Closing Date: If the buyer proposes a closing date that aligns well with your timeline, it might add appeal to their offer.
4. Included Items: The offer may specify that certain items, such as appliances or furniture, are included in the sale.

Negotiation Strategy

Once you’ve evaluated all the terms, you’ll need to decide whether to accept the offer, reject it, or make a counteroffer. This is where negotiation skills come into play.

If an offer is close to what you’re looking for but not quite there, you might counteroffer with adjusted terms. If you’ve received multiple offers, you can leverage them against each other to negotiate better terms.

Remember, every negotiation is unique, and your real estate agent can provide valuable guidance based on their experience and understanding of your specific situation. They can help you navigate through this complex process and ensure your interests are protected.