Should I accept the first offer?
Accept the First Offer? Stop Guessing — Here’s the Real Answer.
Quick answer
Should I accept the first offer? Short: sometimes. Most times you should evaluate. Don’t react emotionally. Treat the first offer as data, not destiny.
Why the first offer matters
The first offer sets the baseline for negotiations. It reveals the buyer’s urgency, their reading of the market, and their willingness to close. In hot markets the first offer might be full price or above. In slow markets it might be low. Your job is to turn data into decisions.
I’ve seen sellers accept the first offer and lose tens of thousands. I’ve also seen sellers accept and close fast with no stress. The difference is a method.
A simple decision framework (use this every time)
- Compare to market value: Is the offer within 2–3% of your target price? If yes, strong candidate to accept.
- Terms matter: Closing date, financing condition, inspection clauses, and inclusions can cost you. A lower price with cleaner terms can be better than a higher price loaded with risk.
- Buyer strength: Pre-approval, deposit size, and agent reputation matter. A weak buyer = higher risk.
- Time vs. money: How long can you stay on market? If you need a fast close, a fair first offer can be the right move.
This framework answers “Should I accept the first offer?” with logic, not emotion.
When to accept immediately
- Offer is at or above your neighborhood comps and within your net target.
- Buyer has strong financing, solid deposit, and minimal conditional clauses.
- Market indicators show accelerating demand (low inventory, multiple pending sales).
If these align, accept. Don’t over-optimize on a small extra percentage when you risk a failed sale.
When to counter or walk
- Offer is below comps by more than a few percent.
- Buyer has weak financing or large conditional requirements.
- You can afford to wait for a better offer and market data supports patience.
Counter with clarity: set a firm price, tighten terms, and set a response deadline. This forces motion and separates serious buyers from lookie-loos.
How a market expert adds value
A top market expert doesn’t just read MLS numbers. They interpret buyer behavior, structure offers, and time decisions to maximize net proceeds. That’s not guesswork — it’s experience applied with a checklist.
Final takeaway
Should you accept the first offer? Use the checklist: market value, terms, buyer strength, and your timeline. If everything lines up — take it. If not, counter with authority. Don’t let fear or greed drive the choice.
Want a fast, clear read on an offer? Get a professional opinion that protects your net proceeds and reduces risk. Contact Tony Sousa — local market expert who’s helped sellers get the right answer fast.
Contact: tony@sousasells.ca | 416-477-2620 | https://www.sousasells.ca
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