Should You Take the First Offer?

A Wichita seller’s guide to reading the market (without leaving money on the table).

The first offer can feel thrilling—and terrifying. Is it “the one,” or should you wait for the weekend?

Here’s a clear, no-drama framework to evaluate that first offer like a pro and decide whether to accept, counter, or hold.

Why the first offer matters

• Your best buyers show up first. The most motivated shoppers have alerts set; they tour and write quickly.

• Momentum protects price. Strong early activity signals value and can trigger competition.

• But speed ≠ best net. The first offer isn’t automatically the best overall—terms and risk matter.

Step 1: Read the market you’re actually in

I will give you hyper-local stats in your price band + neighborhood/school district:

• Median Days on Market (DOM): If the median is 6–10 days and your first offer arrives in 24–48 hours, that’s normal (not necessarily “too soon”).

• Months of Inventory: Under 2–3 months = seller-leaning; 3–5 = balanced; 6+ = buyer-leaning.

• Active competition: What would your buyer pick instead if they didn’t pick yours?

If your showings are heavy (e.g., 8–15 in the first 48 hours), the market is telling you there’s depth—you may be able to plan for at least one competing offer.

Step 2: Score the offer—beyond price

Create a quick Offer Scorecard (10 points total):

1. Price vs. list/expected net (2 pts): At or above your list price? Any seller concessions requested?

2. Financing strength (2 pts): Cash or strong conventional with documented funds > VA/FHA with tight ratios.

3. Appraisal protection (2 pts): Appraisal gap coverage or waiver? Proof of funds for gap?

4. Inspection risk (2 pts): Waived, capped (e.g., “repairs not to exceed $X”), or full contingency with right to cancel?

5. Timing & possession (1 pt): Closing aligns with your move; rent-back option if needed.

6. Certainty signals (1 pt): High earnest money, short deadlines, reputable lender, clean addenda.

8–10 pts: Serious contender—strong accept or sharpen via targeted counter.
5–7 pts: Counter to tighten weak spots (appraisal/inspection/timing).
≤4 pts: Likely wait or counter hard—market permitting.

Step 3: Decide your move (timeline matters)

• Listed on Thu/Fri? Unless the offer is exceptional, consider acknowledging receipt and setting a polite response time after the first weekend (e.g., Sunday 6 p.m.). This is not a “bid deadline,” just a transparent plan to review all activity fairly.

• Listed mid-week or after a slow first 48 hours? A clean, solid first offer can be the best you’ll see—don’t lose it waiting for a unicorn.

Tip: Avoid “exploding offers” that demand a decision in hours. Counter with a realistic timeline and keep the door open to additional showings.

Smart counters that improve your net (without scaring the buyer)

• Tighten appraisal risk: “Buyer covers the first $X of any shortfall” or “gap up to $Y with proof of funds.”

• Shape inspections: “Information-only,” or cap repairs/credits at $X with right to walk if major systems fail.

• Nudge price with give-backs: If you need possession after closing, ask for a rent-back instead of price cuts.

• Clean up noise: Remove fringe contingencies (home sale, unusual addenda) that add risk.

When to accept the first offer

• Your scorecard is 8–10, and it solves your timing.

• Showings are modest, competition is thin, or DOM in your segment is climbing.

• The offer includes appraisal/inspection protections and strong earnest money.

• You’ve already had a full photo-weekend push (open house + online traffic) without stronger signals.

When to wait (or counter first)

• Heavy early activity + your first offer has weak appraisal/inspection terms.

• You’re priced at a popular bracket (e.g., $300k, $350k, $400k) and traffic suggests competition.

• The offer is padded with seller-paid closing costs that drag down net—and the house is getting strong feedback.

Red flags that look “good” but aren’t

• High price, zero gap coverage in an appraisal-sensitive area.

• Low earnest money with long timelines.

• Unverified cash. Always request proof of funds (full names matching contract).

• Lender you don’t recognize and no DU/LP (automated underwriting) findings attached.

A quick net-sheet reality check

Before you say yes, compute:

1. Price

2. – Concessions (buyer credits, closing costs)

3. – Estimated repairs (if capped, use the cap)

4. – Your closing costs (title, doc stamps/transfer, commissions)

5. = Estimated NET

Now compare that net to your goal and to realistic plan B (e.g., a counter for appraisal coverage instead of a higher price).

Example: A smart accept

• $350,000 on-the-dot (captures bracket traffic)

• Conventional loan, $15,000 appraisal gap, DU approved

• Inspection cap $1,500, 10-day period

• $7,000 earnest money, close in 30 days, 5-day rent-back

• Score: 9/10 → Accept or counter for a tiny tweak (e.g., 2-day inspection) and lock it.

Bottom line

Don’t judge the first offer by price alone. Judge it by certainty + speed + risk. Use a scorecard, read the weekend activity, and negotiate terms that protect your net and sanity.

After 23 years, I'm excellent at reading the market and reading people.  I will give you straight advice and then you are the BOSS. 

Call me at 316-202-5515 to discuss a customized strategy to sell your home!

Lesley Perreault, REAL Broker LLC.