multiple offers highest and best

I hear buyers say; “I don’t want to get in a bidding war” and they withdraw their offer. The buyer agents then confer with their buyers, and submit their best offers by the deadline. Whenever I am in a highest and best situation I make the highest offer I can based off my buying criteria and I don’t try to guess what the other offers are in a highest and best situation. Make it attractive, maybe a little above list price. Always be prepared to walk away and don’t become too emotionally invested in the outcome or else you might get a bad deal. It is not worth losing a good deal to try and save a little bit negotiating.I have a begginer question: Is this technically allowed to submit the seccond buying offer, to be lower then the first one, after getting a Highest and Best notice?Really enjoyed your article. I have seen it time and time again! Some offers may ask the seller to pay for closing costs and this will change the net price to the seller.

You need to look at supply and demand, how much you love the house, and what neighborhood prices are. I have been involved in many multiple offer situations as a buyer, seller and listing agent. We made a cash offer but didn’t raise our price so we ended up loosing the deal. Here is the strategy my husband used. The terms of the sale are key, as a seller may accept a lower price with great terms. The biggest problem in any multiple offer situation is you don’t know what other buyers will offer. It is really up to you. Would you be uncomfortable living in a home where someone recently died? Things can change rapidly when there are multiple offers and you absolutely need to stay abreast of the situation. Hopefully, the above strategies put you in a better place when you’re in a competitive, multiple offer situation. It is most banks policies that as soon as they receive more than one offer they will go to highest and best unless the home is under contract.OK, well, next time my first bid will be at asking price or a little over. I have been selling real estate for over 30+ years and guys like you float in and float out of the market! If only people would just sell their house and quit making things complicated for everyone.John, someone is going to get it. they cannot accept two offers at once.I am a Real Estate Agent, Entrepreneur, an author and a Real Estate Investor.Copyright © 2019 InvestFourMore.

Sometimes sellers deliberately set a price below comparable sales in an effort to generate multiple offers. Pretty soon we were asked for our highest and best, and I ended up losing the deal.

In the seller’s formal request, the seller gives each buyer a chance to raise their offer and a date and time all offers must be received by the seller. Submitting your offer quickly shows that you’re serious and your offer may become the standard for which all subsequent offers are judged.Check out this offer letter I wrote on behalf of a buyer:(Note: some details of this letter have been altered for privacy)I wrote this on behalf of my client so we could put forward the most compelling offer. We were willing to take any property as long as we have positive cash flow. Well, situations like this can be common when there is heavy competition amongst buyers and low inventory.” the listing agent is indicating that there are multiple offers on the property and that all interested buyers should submit their best possible offer.

If the items were easily viewable when you made the offer, the seller will not negotiate much if at all.Thank you for the information. Many banks require the buyers agent to submit offers to them directly now.If you want to pay that much for the house than accept it.

A smart seller will simply counter the buyer at $110,000 and does not have to show any other offers to the buyer or their agent, because they did not accept the original offer with those terms. For more detailed tips on getting your offer accepted here is a great article on how to make an offer that will be accepted.Highest and best situations can make buyers mad, but the sellers have a good reason to use it. It may actually hurt your chances of getting the house and if your agent argues that they have to accept the escalator clause, it could make the banks and listing agent mad, hurting your chances even more.It is tricky to know how much to offer in a highest and best situation, but stick to your numbers and do not let emotion get involved.

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