It's every home seller's dream scenario: after a short time on the market, you find yourself choosing among multiple offers! If you think that only happens to a few lucky luxury homeowners, think again; it happens right here in Southwest Michigan on homes in all price ranges.

How does this occur? If your home is priced ideally (positioned below the maximum price that you can expect it to sell for), you are much more likely to receive multiple offers.  And how your home is presented (this is where professional marketing makes all the difference) will also affect the buyers' perception of value and spur them to make an offer.

So here you are with 2 or 3 (or 8, as I've seen lately) offers in hand. Naturally you want to choose the one which nets you the most money. But it pays to look deeper. Here are some important considerations when deciding which one to accept.

1. HOME SALE CONTINGENCY. Do they need to sell another home first in order to purchase yours? If so, is their home already under contract? How likely is their sale to go through? They will want to time the two transactions together, so will that work for you? While not necessarily a bad thing, depending on someone else's sale to go through can complicate things for you, so check into all the details carefully.
2. FINANCING. Are they offering cash? If they are obtaining a loan, what type is it? Who is the lender? Are they getting this loan by the skin of their teeth or is it well within their comfort range? It may not be possible to get all of these answers, but who they've chosen as a lender has a huge impact on the rest of the transaction. Some lenders are true professionals who are efficient and care about doing things right. Others are not. It matters.
3. POSSESSION DATE. Most buyers want to walk away from the closing table with keys in hand to begin living in their new home immediately. Does their expected closing date fit within the timeframe you can reasonably move out?
4. INSPECTIONS. Most buyers will, and should, order home inspections, although some will waive this in an effort to make their offer more attractive. If you have a recent well or septic report, providing those to the buyer can save time and hassle. See what inspections they are asking for, and be aware that sometimes obtaining repair quotes that come about as a result of inspections can cause delays in the transaction.
5. SURVEYS. If the buyers are asking for a survey, are they offering to pay for it themselves? Survey companies are often booked several weeks out, so keep in mind that this could delay closing. If you already have one that you can share, that will help.
6. CONCESSIONS. Some buyers will request that the seller pay money toward their closing costs in order to save out-of-pocket expenses. Read carefully to calculate how that will affect your bottom line.
7. INFLATED VALUE. Unless the buyer is paying cash, be cautious of an offer that seems higher than you thought you could get. The house still has to appraise for enough or the bank will not lend the money for it.
8. PERSONAL PROPERTY. Sometimes buyers will ask you to include items in the sale they saw when they walked through, often pieces of furniture, golf carts, or boats. Consider these requests with a realistic idea of value and decide if it makes sense to throw them in.
9. PERSONAL PREFERENCE. You are not obligated to automatically accept the offer that nets you the highest price. If the buyers have included any details about themselves (such as a letter explaining why they want your home so much – I've seen those), you can choose based on your personal preference SO LONG AS it is not discriminatory toward anyone because of race, religion, or any other basis protected by law. I caution you to tread carefully here so as not to land yourself in trouble. (You may also choose to not accept personal buyer letters.)

If you ever find yourself in the happy position of entertaining multiple offers, congratulations! Hopefully you have an agent by your side who can help you choose wisely.