Sometimes home buyers make an offer but their’s isn’t the winning offer. Eventually, when the sale closes we find out how much it sold for. Sometimes the winning offer turns
out to be less than another buyer offered.
The terms of the offer can make all the difference. Maybe the buyer offered to let the seller just move and leave anything behind they didn’t want. Maybe there was more cash in the offer and the seller took it because they were worried about issues with the appraisal. The house has to appraise for at least as much as the loan amount.
It is possible that the buyer could close sooner or maybe later than other offerers. Maybe the buyer had the house inspected before making the offer. Maybe one buyer had to make the offer contingent on the sale of another house. That makes the offer riskier.
The dollar amount of the offer is important but there can be a lot more to a great offer than money.
