Three offers at the same price are not the same deal. One might close fast, another might hinge on an appraisal, and a third might ask you to cover part of the buyer’s costs. Knowing how to compare offers comes down to three questions: how likely is it to close, how long will it take, and what do you actually walk away with?
In Arizona, the answers sit in the contract as much as in the financing type. The inspection period, the appraisal terms and the buyer’s loan status all shape how much risk you carry until closing day. Here is what each type of offer means for you as a seller, the contract terms worth reading closely, and the questions I put to every buyer’s agent before you counter.
What Each Type of Offer Really Means for a Seller
Every financing type comes with its own steps between signing and closing. Knowing those steps tells you where an offer is likely to slow down, and where it could fall apart.
Cash Offers
With cash, there is no lender, so there is no loan approval to wait on. An appraisal usually isn’t required unless the buyer chooses to order one. That removes two of the most common reasons a deal stalls.
Cash still needs checking. Ask for proof of funds, and make sure the account belongs to the buyer rather than a relative or a business partner who has not signed anything. The buyer also still gets an inspection period under the standard Arizona purchase contract, so a cash offer is not the same as an as-is offer. It can close quickly, but only if the buyer is ready to move that fast.
VA Offers
A VA loan is made by a private lender and guaranteed by the Department of Veterans Affairs. The appraisal checks the house against the VA’s minimum property requirements, which can flag items like a worn roof, a well or septic system that needs testing, or a manufactured home foundation that needs certifying. Those items may have to be addressed before closing.
VA buyers are not allowed to pay certain fees, so you may be asked to cover some of them. If the appraisal comes in low, there is a process that lets the agent submit comparable sales before the value is final. A VA offer is not a weak offer. It simply has a few more checkpoints, and a buyer’s agent who knows them keeps the deal moving.
Conventional Offers
With a conventional loan, the size of the down payment tells you a lot. A buyer putting more money down has more room to cover a gap if the appraisal lands below the price. The lender still orders its own appraisal and sets its own conditions. More than the loan type, what matters here is how thoroughly the lender has checked the buyer before the offer reached you.
Why the Headline Price Is Only Part of the Offer
The number at the top of an offer is not the number you take home. Seller credits, requests to cover closing costs, and repair asks all come out of your proceeds. An offer that looks higher on paper can leave you with less once those are subtracted, while a lower offer with no strings attached can come out ahead.
Timing and commitment belong in the comparison too. A larger earnest money deposit shows a buyer with more at stake. A closing date that lines up with your move, or your next purchase, has real value even if it is not written as a dollar figure. Before you choose, run each offer through the net proceeds calculator in the Seller’s Guide so you are comparing what you keep, not what you are offered.
The Contract Terms That Decide Whether It Closes
Beyond the financing type, a few terms in the Arizona purchase contract decide how much uncertainty you are carrying. These are the parts I read first.
The Inspection Period and the BINSR
Every offer type includes an inspection period. During that window, the buyer inspects the house and sends any repair requests in writing on a form called the BINSR. You can agree, refuse, or offer a credit instead, and your window to respond is short. A shorter inspection period means fewer days with the deal up in the air. On VA and FHA loans, keep in mind that the appraisal can require certain repairs no matter what the buyer asks for.
Appraisal and Appraisal Gap Language
If the appraisal comes in below the price, the contract decides what happens next. Some buyers agree up front to cover part or all of a gap with their own cash, and that language makes an offer far sturdier. VA and FHA contracts carry a clause that lets the buyer cancel without losing earnest money if the appraisal is too low, so the gap question matters most on those. A cash buyer who skips the appraisal takes this risk off the table entirely.
Loan Status and Pre-Approval Strength
Arizona uses a Loan Status Update form, completed by the buyer’s lender, that shows where the loan actually stands: whether income, credit and assets have been verified, and what is still outstanding. A verified pre-approval is much stronger than a pre-qualification, which is often just a conversation. The lender’s reputation for answering the phone and closing on time counts as well, especially when the timeline is tight.
Questions to Ask Before You Accept or Counter
This is how to compare offers in practice. Before you sign or counter, get clear answers to these, because each one affects either the risk you carry or your bottom line:
- Has the lender verified the buyer’s income, credit and assets?
- For a cash offer, is there proof of funds, and are the funds the buyer’s own?
- How much earnest money is there, and when will it be deposited?
- How long is the inspection period?
- Is there appraisal gap language, and how much will the buyer cover?
- What seller credits or closing costs is the buyer asking for?
- How firm is the closing date?
- Does the buyer need to sell another home first?
- Could a VA or FHA appraisal flag anything on this particular house?
- Which fees is the seller being asked to pay?
A buyer who answers these clearly and quickly is usually a buyer who closes.
Put Every Offer Side by Side Before You Sign
The right offer is the one that nets you the most with the least chance of falling apart, on a timeline that works for your life. That is rarely obvious from the price alone. When offers come in on my listings, I lay each one out by net proceeds, financing, contingencies and closing date, so you can see the real differences before you counter or sign.
If you are thinking about selling, start with a real number for your house. Tell me the address, and I will pull what actually closed near you.
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