When I sold a house recently I took the second highest offer, because the highest offer came from someone out of state who had never set foot in the house
Is that associated with some kind of risk of the sale not closing, or other risk?
(Sorry if it's a dumb question with an obvious answer -- this is not my area of expertise.)
The house had some warts, and the second highest bidders were locals who had toured the house and had it inspected. Closing was pretty much a lock.
It was a standard bay area offer - 20% down preapproval, no contingency, 4 weeks close, and could have been shorter.