Until the lender forecloses on the home, the homeowner is in the driver’s seat. They “own” the property until the lender forecloses. We have had many buyers get angry that a home owner would not accept their low-ball offer. “You have to submit my offer to the lender. If you don’t then that would be fraud,” they tell the home owner.
You, the home owner are in charge. That means that you can make the following decisions.
You are allowed to pick the buyer’s offer that you think the lender will be most likely to accept.
You are allowed to turn down offers that you don’t like for whatever reason. (Maybe the buyers are too picky about the home and want you to make repairs.)
You are allowed to turn down offers if the buyer is not pre-approved for a loan. In addition, you can ask the buyer to inspect the property before they write a contract.
You are allowed to ask for an earnest money deposit to make sure the buyer is serious about the house.
It is your right to do these things for as long as you own the property. Don’t let anyone tell you otherwise.