Updated October 2026
When multiple offers come in on your Irvine home, you have three choices: accept the strongest offer as written, counter the best buyer, or ask every buyer for their highest and best offer. Which one fits depends on how many offers you have, how close they are and how much room buyers have to improve. Judge each offer on whether it will close, not just on price: financing, contingencies, closing date and likely repair requests come first. Competition is also rarer than a few years ago. The MLS doesn't record how many offers a home received, so the closest public signal is a sale above the original list price. Over the 12 months through September 2026, 15% of Irvine resales sold above their original list price, compared with 57% in 2022, and 80% of those went under contract within two weeks, according to Irene and Ricky Zhang's review of CRMLS data.
How often Irvine homes sell above their original asking price now
Selling above the original list price is the closest public sign that a home drew competition, though it doesn't count offers. Irvine resales by the year they closed:
Year closed | Sold above original list price |
|---|---|
2022 | 57% |
2023 | 45% |
2024 | 47% |
2025 | 19% |
Oct 2025 to Sept 2026 | 15% |
Timing matters more than anything. Over the past 12 months:
Days on market before going under contract | Sold above original list price | Median sale price vs. original list price |
|---|---|---|
0 to 7 | 38% | 100.0% |
8 to 14 | 40% | 99.6% |
15 to 30 | 10% | 97.0% |
31 to 60 | 4% | 95.2% |
More than 60 | 2% | 93.0% |
Homes that sold above list did so by a median of 2.5%. After the first two weeks, sales above asking were rare in this sample, and most sellers ended up negotiating down instead.
The market changes every day with interest rates and other factors. For current numbers on your home and your village, book a time with Ricky.
Multiple offers start before you list
Competition comes from what happens before the first offer: a price that matches today's market, a well-prepared home and a strong launch. Every listing we take gets its own video, plus targeted online campaigns and open houses in the first weeks, when buyer attention is highest. An overpriced home won't draw competing offers however it's marketed. See how to choose the right listing price in Irvine.
Some listing agents set a fixed date to review all offers. We don't. We review each offer as it comes in and decide the next step with you based on what's actually on the table.
Your three options when offers come in
1. Accept the best offer as written. Makes sense when one offer is clearly ahead on both price and terms, and countering risks losing it.
2. Counter the best buyer. Makes sense when one offer stands out but you want better terms, such as a higher price, a larger deposit or shorter contingencies. It's faster and simpler than a full round with everyone, though you give up whatever the other buyers might have added.
3. Ask everyone for their highest and best. Makes sense when several offers are close. Each buyer gets one more chance to improve by a deadline, usually a day or two. Some buyers will improve, and some will hold or drop out. In California, a seller can counter more than one buyer at once using the C.A.R. Seller Multiple Counter Offer form. A buyer who accepts it isn't in contract until you sign a final acceptance, so you can't end up sold to two buyers.
With your permission, your agent can tell buyers that other offers exist. Your agent shouldn't share another buyer's price or terms.
Which option is right depends on the number of offers, how far apart they are and the buyers behind them. We go through it with you each time.
Compare offers on whether they'll close
We go through every offer in this order, and price comes last on purpose:
- Will the money show up? A pre-approval letter doesn't tell you much. On financed offers we call the buyer's lender and ask whether underwriting has reviewed the file, how much is going down and what could hold it up. On cash offers we want proof of funds. See what happens if the buyer's loan falls through.
- How long until the buyer is committed? Until a contingency is removed, the buyer can usually cancel and get the deposit back. Shorter inspection, appraisal and loan windows mean you know sooner whether the deal is solid. An offer that depends on the buyer selling another home is a much bigger risk. See should I accept a contingent offer.
- Do the closing and move-out dates fit your plans? Check the closing date, the possession date and any rent-back. All of it is negotiable, and all of it should be in writing.
- What will they ask for after inspection? A buyer who writes a high price and then asks for a big credit can net you less than a lower offer. See seller credit vs. price reduction.
- Price. Now compare the numbers.
Here's a made-up example:
Offer A | Offer B | |
|---|---|---|
Price | $1,530,000 | $1,505,000 |
Financing | 10% down, pre-approval letter only | 35% down, lender confirms underwriting reviewed the file |
Contingencies | Standard-length windows | Short windows, removed in about 10 days |
Closing | 45 days | 30 days, plus a short rent-back |
Repair terms in the offer | "Repairs to be negotiated" | Asks for no repairs or credits up front (inspection rights still apply) |
Offer A is $25,000 higher on paper. If it falls apart three weeks in, you go back on the market with a home that has already been in escrow, and you keep paying the mortgage, HOA dues and Mello-Roos the whole time. If you have a fixed move date, such as a job relocation, Offer B is often the better deal. You can also go back to Offer A and ask for Offer B's terms. That's what a counteroffer is for.
Escalation clauses
An escalation clause says the buyer will beat any other offer by a set amount, up to a cap. For example: "Buyer offers $2,100,000 and will beat any competing bona fide offer by $10,000, up to $2,250,000."
It can work in your favor when the cap is high and the financing is strong. The downsides: to trigger it, you usually have to show the buyer the competing offer, and the cap may be below what the home could bring. If you're asking everyone for highest and best, it's cleaner to ask for a single best price with no escalation, so the offers compare directly.
Backup offers
After you pick an offer, you don't have to let the other buyers go. You can accept a backup offer. It moves into first place if the first contract is canceled, as set out in the backup addendum. In California this is usually written on the C.A.R. Back-Up Offer Addendum.
When there are other interested buyers, we usually take a backup. Buyers in Irvine still keep their inspection, appraisal and loan contingencies, so cancellations happen. A signed backup also changes the tone if the first buyer pushes hard for a credit after inspection, because both sides know another buyer is ready.
Mistakes sellers make with multiple offers
- Choosing price over certainty. A financed offer at $2.4 million with a small down payment and every contingency isn't the same as a cash offer at $2.3 million. If the financed deal fails on the appraisal, you lose time and may end up at a lower price anyway.
- Accepting an exploding offer under pressure. Some buyers write offers that expire within hours so you can't see what else comes in. Sometimes taking it is right. Decide based on how strong it is and how likely other serious buyers are, not on the clock.
- Reading buyer love letters. Letters about who a buyer is can expose you to fair housing claims if they reveal protected characteristics. Decide on the contract terms.
FAQ
Do I have to tell buyers how many offers I have?
No. With your permission, your agent can tell buyers that other offers exist, which can encourage them to improve. Your agent shouldn't reveal another buyer's price or terms.
Should I take the highest offer?
Not automatically. Look at financing strength, contingency deadlines, the closing and possession dates and likely repair requests first. A slightly lower offer that's very likely to close on time can be worth more than a higher one that might fall apart.
How often do Irvine homes get multiple offers now?
Less often than a few years ago, as far as public data can show. The MLS doesn't track how many offers a home got, but over the 12 months through September 2026, 15% of Irvine resales sold above their original list price, compared with 57% in 2022. Of those, 80% went under contract within the first two weeks.
Should I accept an escalation clause?
It can work if the cap is high and the buyer is well qualified. But you usually have to show the buyer the competing offer to trigger it. If you're running a highest-and-best round, asking for one clean best price makes offers easier to compare.
What is a backup offer, and should I accept one?
A backup offer is a signed contract from a second buyer that moves into first place if the first buyer cancels. In California it's usually written on the C.A.R. Back-Up Offer Addendum. When there are other interested buyers, we usually take one.
Can I keep looking for a better offer after I accept one?
Once you've accepted an offer and have a binding contract, you can't walk away from it for a better one. You can keep showing the home and accept backup offers, which only move up if the first contract is canceled.
Getting ready to list and want the strongest offers in the first two weeks? Get your home value or book a time with Ricky.
About Irene and Ricky Zhang: RealTrends Verified ranks Irene and Ricky Zhang the #1 small team in Irvine by both sales volume and transaction sides (2026 City Rankings, based on 2025 production). Sales figures are from our review of Irvine resales in CRMLS, 2022 through September 2026, excluding new construction; the 12-month figures cover 1,889 resales from October 2025 through September 2026. The offer comparison is a hypothetical example. This article is general information, not legal advice.
