Many sellers are holding off selling their homes during the pandemic, There are a few sellers that need to sell though, They are being rewarded with lots of offers. One of the steps a lot of sellers in NH are taking, are asking the buyers for their highest and best offer.
Many buyers do not know what this means. Take one of my new listings. The sellers are retiring to Florida and waited until spring to sell. They already bought their Florida home and wanted to come back in spring to clean out their NH home. With the virus, they drove here instead of flying. They packed up the home and got it clean, They can not afford to keep up two homes long. Despite the virus they listed with me and asked for a quick sale. Being vacant was easier in keep safe distances.
I got my trusty list of buyers out and set up showings spaced apart. Buyers were asked to wear a glove to open doors and cabinets. By the end of the day there was 6 offers. The buyers were asked for their highest and best offer by 7pm as the seller would choose an offer then. I was puzzled at how many buyers did not know what it meant. Some with agents who countered worse than their initial offer.
IN SUMMARY Highest and BEST offer is just that, make your your highest offer. By best, it looks at the other factors such as closing date and contingencies. Reduce or eliminate contingencies. Some skip the inspection. Others reduce the inspection from 10 days down to 3. Others include pre approval letters. Others will skip the FHA mortgage and go conventional. There are many options.
IN THE END the best way I find is to call the listing agent and simply ask what the seller is looking for. It is simple, almost too simple because many do not. Having a buyer agent who is well experienced is a must. There are all kinds of agents and why not chose the best first. Not the biggest or the newest or the one that charges the least.
THE BOTTOM LINE is to know how important it is that every Buyer or Seller should not just choose any agent, choose the BEST agent for the job. Having an agent that works for you is a must. Support your local businesses.
My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.