It’s one of the most stressful moments in the selling process: you receive an offer, often within the first few days of listing, and you have to decide what to do. Should you accept first offer property you’ve received, reject it, or counter? The answer is never automatic, and depends on much more than the price alone.
In 16 years as a broker in Montreal’s Southwest, I’ve seen sellers regret accepting too quickly, and others regret turning down a great offer while hoping for better. Here’s how to evaluate an offer properly, without relying on gut feeling alone.
Why price alone isn’t enough to decide
The price shown on an offer is only one piece of the puzzle. Other factors can make a big difference in the deal’s real value:
- Conditions attached to the offer: financing, inspection, the buyer’s need to sell their own property first
- The deposit offered, which often reflects how serious the buyer is
- The proposed closing date, which needs to fit your own timeline
- The number and nature of conditional clauses, which can delay or derail the transaction
An offer that’s slightly lower but comes with fewer conditions can often be worth more, in practice, than a higher offer loaded with risky clauses.
When it makes sense to accept an offer quickly
There are situations where accepting quickly is the right call:
- The offer meets or exceeds the asking price, with few conditions
- The market in your neighbourhood shows limited demand for that type of property
- The buyer is already pre-approved for financing, reducing the risk of the deal falling through
- The proposed closing date fits your situation perfectly
In an active market like Griffintown or Verdun, a strong first offer that comes in quickly often reflects a motivated buyer who has done their homework.
When it’s better to negotiate or wait
On the other hand, a few signals suggest it may be worth countering or waiting:
- The offer is significantly below asking, without a clear justification
- Several major conditional clauses give the buyer an easy way out
- You receive the offer within the first 24 to 48 hours of listing, a sign that other interested buyers haven’t had time to visit yet
- The market in your area shows strong demand for comparable properties
Handling multiple offers
If several offers come in at once, the situation changes completely. At that point it becomes possible to push for the best terms from each buyer, a strategy that requires strong local market knowledge to execute well without scaring off serious buyers.The broker’s role in this decision
Evaluating an offer means objectively comparing price, conditions, and market context, a difficult exercise to do alone in the middle of the emotional process of selling. A broker who knows your area well can:
- Compare the offer against recent comparable sales
- Flag risky clauses before you sign
- Negotiate terms without damaging the relationship with the buyer
- Help you keep an objective perspective during an often emotionally charged moment
If you’re still preparing your sale, I also wrote a complete guide to the selling process and an article on evaluating your property, to help you get ready before you even receive a first offer.
Frequently asked questions about purchase offers
Can I counter a first offer?
Yes, it’s common and often a good practice if the initial offer doesn’t quite match your expectations, whether on price, conditions, or closing date.How much time do I have to respond to an offer?
The deadline is usually specified in the offer itself, often between 24 and 72 hours. You can request an extension if needed.Is an offer with no financing condition always better?
Not necessarily. You need to make sure the buyer can actually close without financing, otherwise the absence of that condition can be a risk rather than an advantage.Received an offer and not sure how to respond?
Contact me today, I can review your offer with you and advise on the best path forward.