How to Handle Multiple Offers on Your South Jersey Home

South Jersey continues to see strong buyer demand—especially in desirable areas like Cherry Hill, Mount Laurel, Washington Township, and Medford. As a result, sellers often find themselves reviewing multiple offers within days (or even hours) of listing.

But choosing the right offer isn’t just about the highest price. A strategic approach helps you secure the strongest terms, fastest timelines, and least amount of risk.

Real estate expert Mary Murphy of The Murphy Group explains:

“Multiple offers are a great position for sellers, but it’s important to choose the offer that will actually make it to closing. The highest number isn’t always the strongest deal.”

Here’s how to evaluate and handle multiple offers with confidence.

1. Compare More Than Just Price

While price is important, other terms can make or break a sale:

Look closely at:

• Financing type (Conventional vs FHA vs VA vs cash)
• Down payment amount
• Appraisal gap coverage
• Inspection requests or waivers
• Closing timeline
• Buyer contingencies (home sale, mortgage, inspection, appraisal)

💡 Pro Tip: A cash offer with minimal contingencies can be worth more than a higher financed offer with risky terms.

2. Evaluate the Buyer’s Financial Strength

You want a buyer who is both ready and able to close. Review:

• Mortgage pre-approval strength
• Down payment percentage
• Proof of funds (especially for closing costs or appraisal gaps)
• Lender reputation

Local lenders often move faster than national banks—another factor that reduces risk in tight timelines.

3. Consider Appraisal Waivers and Gap Coverage

In hot South Jersey markets, homes often get bid up beyond list price.
An offer with appraisal gap coverage protects you from renegotiation if the bank values the home lower than the offer price.

Common examples:

• Buyer covers the first $10,000–$25,000 of an appraisal shortfall
• Buyer waives the appraisal entirely (often in cash deals)

This reduces uncertainty—and can outweigh a slightly higher offer with no protection.

4. Compare Contingencies Carefully

Some contingencies introduce delays or risks:

Higher-risk contingencies:

• Buyer needs to sell their home first
• Buyer requests repairs or credits upfront
• Long inspection windows
• Very long closing timelines

Stronger offers typically include:

• Short inspection periods
• Limited repair requests
• Faster closings
• Fewer contingencies overall

5. Use a “Highest and Best” Deadline (When Appropriate)

If you receive multiple offers quickly, you can set a deadline for all buyers to submit their best possible terms.

This:

• Gives you time to compare everything at once
• Encourages buyers to strengthen their offers
• Creates a fair, transparent structure

However, your agent may advise against this if you already have an incredibly strong offer worth accepting immediately.

6. Don’t Forget About Buyer Flexibility

Some buyers are more willing to work around your needs, such as:

• Rent-back periods (you stay in the home after closing)
• Flexible closing dates
• Quick move-in timelines

For many sellers, convenience and predictability are just as valuable as price.

7. Choose the Offer Most Likely to Close

Mary Murphy emphasizes:

“The best offer is the one with the highest probability of closing smoothly—without surprises, delays, or renegotiations.”

The goal is not just accepting an offer… it’s successfully closing on the offer.

Seller Takeaways

• Multiple offers give you leverage—use it wisely.
• Evaluate every offer holistically: price, terms, contingencies, and financial strength.
• A slightly lower offer with fewer risks often wins.
• Work with an experienced South Jersey agent who knows how to manage competitive situations.

Thinking About Selling in 2025?

The Murphy Group helps South Jersey sellers generate bidding wars, negotiate smarter, and choose offers that lead to stress-free closings.

Start your selling plan at www.mgsells.com