It isn't always as simple as taking the highest offer when accepting the "best" offer for your seller.
You want to make sure the accepted offer is a successful escrow all the way to the end, so consider some of the following when choosing the best offer besides looking at offer price:
What kind of loan is the buyer getting? Is it appropriate for this kind of property? Will it fly for this kind of property? Is it a reputable lender? Have you contacted the lender yourself to check the financial strength of the buyers?
"Over Asking" price - a good thing? maybe not in some cases because although your seller is thinking "great!!", will it appraise for that price? Or is the bank going to come back with a lower appraisal? then what, re-negotiate the deal all over again? You want to be careful of this because this is a strategy sometimes used by buying agents in a multiple offer situation in order to get an accepted offer. They'll offer a much higher price probably knowing it won't appraise (according to their comps), then they'll try to re-negotitate the deal during escrow thinking the seller is so far in to the deal that they'll just break down and accept a lower selling price out of shear exhaustion perhaps.
I'll try to make this an on-going blog series if you think it's helpful.
Good luck, and remember.................play nice!
