Special offer

Highest and Best Offers

By
Real Estate Agent with RE/MAX Advantage

I was showing a home to a referred client (someone I did not know) the other day.  For our market, it was a low priced home.  There were already offers on the home and the listing agent had called for highest and best offers the next morning.  As we went through, I explained this to the buyers.  We discussed the fact that with multiple offers, often the price was pushed over list price.  They looked at me like I was crazy.  I knew I was not getting through, so I go through it again.  Still received this blank stare.  They did not believe a bit of it, and since they were new referrals, I had no relationship with them to draw upon. 

Bidder

Maybe you are in the market for a home for the first time in a long time.  It is important to work with an agent with experience and therefore, to be able to trust them.  Their purpose is to lead you through the ever changing landscape of home purchasing that is our world today.  It seems that everything has changed over the last few years.   Having blinders on or ignoring the current environment will only lead to frustration in your road to home ownership.

Happy hunting!

 

 

Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

A few months ago, I bid on a house that I wanted to purchase to flip. The Realtor I was using called me and told me, that there were a number of bids and to get get my highest and best offer. All pretty familiar to me, but wasn't sure how accurate the statement was. MY offer was cash and no inspections.

My original offer was $78,000, so I decided to drop my offer to $75,000. The Realtor said they will never accept a lower offer, but put it in anyway. The Realtor on the other side, asked if I would reconsider and go back to my original offer, when asked, I said no. 4 days later my offer was accepted. You figure it out.

 

Jul 05, 2012 08:44 PM
Marsha Cash
RE/MAX Advantage - Stockbridge, GA

Joe, that's odd!  How did you know to lower the offer?  Just felt like it?  Congrats.  Usually the opposite happens with me.  My folks make an offer.  We get highest and best notification.  My clients hold.  Someone else gets contract. 

Jul 06, 2012 06:36 AM