Price is the starting point; net proceeds tell another story
For each proposal, begin with the price and subtract requested seller-paid costs, agreed concessions and other estimated expenses. Then include loan payoff and your actual closing charges. Use the same assumptions for every offer, and keep unagreed repair requests separate from known costs. Our seller-cost guide explains the main categories.
An educational example: the higher price can leave less
Suppose Offer A is $350,000 with $10,000 in requested seller concessions, while Offer B is $345,000 with $2,000. Before all other costs, A leaves $340,000 and B leaves $343,000. That $3,000 difference is not a complete net-proceeds calculation or a reason to choose B automatically. Compare financing, deadlines, possession and contingencies too. These are hypothetical figures, not a past transaction.
Use this offer-review checklist
- Financing and available funds: Identify cash, conventional, FHA, VA or other proposed financing. Review the supporting preapproval or proof of funds, remaining conditions and the lender’s expected timing. A financing label alone does not establish reliability; preapproval is not final loan approval.
- Earnest money: Note the amount, delivery deadline, holder and the contract provisions governing release or return. A larger deposit is not automatically yours if the sale fails.
- Inspection terms: Read the investigation period, notice requirements and any repair provisions. Ask what choices remain if problems are found; do not assume “as is” eliminates every contingency or disclosure obligation.
- Appraisal risk: Identify whether value or financing contingencies apply and what happens if the valuation is below the price. Any promise to cover a gap needs clear written terms and consideration of available funds.
- Closing costs and concessions: Separate seller-paid buyer costs from your own expenses. Confirm that any proposed credit is acceptable to the lender and closing company before relying on it.
- Other contingencies: Look for a buyer’s home-sale requirement or other conditions. Identify the deadline and consequence for each, rather than counting contingencies without understanding them.
- Possession and included items: State when keys and occupancy transfer and which appliances or other items remain. If occupancy will differ from closing, address the arrangement in writing with appropriate professional guidance.
- Closing timeline: Match the proposed date to lender, title, repair and moving needs. A fast date helps only if the required work can realistically finish.
Why the highest offer is not automatically strongest
A higher price may come with larger concessions, an unresolved home-sale contingency, uncertain funding or possession terms that conflict with your move. A lower proposal can also carry substantial risk. Michael helps compare the written terms and discuss questions or counteroffers; the decision remains yours. Focus on the offer and verified ability to perform, not personal characteristics of the buyer.
Before accepting or countering
Keep a written comparison and mark which figures are estimates. Ask for clarification where terms conflict or supporting documentation is missing. Track response deadlines and have every agreed change reflected in the written documents. There is no universal “best” inspection period, deposit or concession amount for every Oklahoma home; the property, contract and seller’s priorities matter.
Use your market analysis to assess price support, review what Michael’s seller representation includes, and talk through an offer with Michael. Once the agreement is in place, follow the contract-to-closing checklist.
Related reference: the CFPB explains how inspections and appraisals differ. Your signed contract and applicable requirements control the actual transaction.