Short answer: With multiple offers on a house, pick the offer most likely to close and leave you the most money, not only the highest number. Compare each buyer’s pre-approval, down payment, contingencies, closing date and any credits they ask for.
More than one offer is a good problem to have. The trick is that the highest number is not always the offer most likely to close, or the one that leaves you with the most money.
How strong is the buyer’s money?
- Pre-approval, not pre-qualification. A pre-approval means a lender has checked the buyer’s finances. It is still not a loan, and many letters expire within 30 to 60 days (Zillow). Check the date.
- Down payment. A buyer putting 20% or more down is usually less likely to hit a financing problem.
- Cash. No loan, no lender appraisal, often a faster close. Ask for proof of funds.
What could stop the deal?
In a 2025 Zillow survey, 85% of buyers put at least one contingency in their final offer. The common ones are the inspection, the loan, the appraisal and the sale of the buyer’s own home. Each is a way out for the buyer, so fewer and shorter contingencies mean a safer offer.
Watch the appraisal in particular. When a deal fell through, 28% of sellers in Zillow’s research said it was because the appraisal came in below the price. An offer that covers some of any appraisal gap can be worth more than a higher offer that does not.
Timing and costs
Compare the closing date you want with the one each buyer offers, and look for requests for seller credits. A higher price with a large credit can net you less than a lower clean offer. Closings typically take 30 to 45 days from the offer. Co-op sales take longer because the board must approve the buyer.
In New York, an accepted offer is not yet a deal
Here the attorneys draw up the contract after you accept an offer, and the deal is binding once both sides sign it. Until then, a buyer can walk away. That is one more reason to pick the buyer most likely to get to the signing, not only the highest number.
Two ways to handle several offers
- Counter the strongest offer on price, terms or both.
- Ask every buyer for their highest and best by a set deadline, then compare them side by side.
When offers come in, we bring you every one with the terms that matter. Read how we handle it in the Pinnacle selling guide.
Quick answers
Is the highest offer always the best?
No. A higher price with a large seller credit, or with contingencies that let the buyer walk away, can net you less than a lower, cleaner offer.
How long do pre-approval letters last?
Many expire within 30 to 60 days, according to Zillow. Check the date on each one.
When is a New York home sale binding?
Once both sides sign the contract the attorneys draw up after an offer is accepted. Until then a buyer can walk away.
Keep reading
- When should you lower the price of your home?
- What buyers click on vs what they actually pay more for
- Selling your Staten Island home this winter
- The Pinnacle selling guide
- What is my home worth?
Questions about your own move? Call or text the office at 718-490-0393, or send us a note.
Sources: Zillow, read November 8, 2026. General information, not legal advice; your attorney advises on your contract.
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