Four things beyond the price
- Conditions. Every condition is a way the deal can end. Financing, inspection, condo document review and sale-of-buyer's-home each carry different failure rates — and the last one carries by far the most.
- Deposit. Size signals commitment and is what you have recourse to if the buyer defaults after conditions are removed. A larger deposit is a meaningfully stronger offer.
- Possession date. If it aligns with your own purchase, that can be worth real money. If it forces interim accommodation and storage, that is a genuine cost against the headline price.
- The condition period length. Ten days versus twenty-one is nearly two extra weeks where your home is effectively off the market with no certainty.
Is a cash offer always better?
Not automatically, but it removes the single most common failure point — financing. A genuine cash offer with proof of funds and no financing condition is materially more certain, and that certainty is worth something.
Two cautions. "Cash" written on an offer without evidence is a claim rather than a fact; ask for proof of funds. And a cash buyer usually knows their certainty is valuable and prices accordingly — the question is whether the discount they expect exceeds the risk they remove.
Should I accept an offer conditional on the buyer selling their home?
It depends entirely on their home, and you are entitled to ask. Is it listed? At what price? How does that price compare to what similar homes are actually selling for? How long has it been on the market?
A buyer whose home is well-priced in a busy segment is a reasonable risk. A buyer whose home has not yet been listed, or has been sitting for two months, is asking you to take your home off the market while they solve a problem they have not solved yet.
If you do accept one, the contract should be structured so you can continue marketing and require the buyer to act if another offer arrives. Discuss the specific mechanism with your REALTOR® — the wording matters.
Is the first offer usually the best?
Often, and there is a reason rather than superstition. The first offer typically comes from the accumulated pool of buyers who have been searching for months, know the market well, and recognise the right home immediately. Later offers frequently come from buyers with less context.
That is not a rule to follow blindly — an early lowball is still a lowball. But dismissing a strong early offer because it feels too soon is a mistake we see repeatedly, and those sellers often accept less three months later.