multiple offers highest and best

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Posted on August 29, 2020

Escalation clause????

I started looking for a rental property at the end of 2012.

I have a question for you. There’s no way around this, but you can try to keep the loan and financing contingency period as short as possible.

Why not leave your offer the same as your original offer and if you get it great, if not move on. I am not sure how they would accept an offer and then counter your offer. Many buyers find this deeply frustrating and insulting since they’re essentially being asked to put forth a better offer than their best offer.If this happens, there’s a good chance your offer was the best offer and now the listing agent is trying to get you to bid against yourself in a final attempt to squeeze out a better offer for their client. If someone is willing to pay more, then I am confident I made my best offer and gave it my best shot. I have seen it time and time again! It helps to know how many offers there are, but It only takes one offer to beat you. The market was crazy at that time. It is the sellers right to sell the house however they like.Hi Mark, great article. No more dilly-dallying!



Highest and best is usually the fairest way to handle multiple offers.Banks and traditional sellers also use highest and best to try to get the most money they can for their house.

Standing firm may be the best thing to do in this case, as you make it clear that you’re not going to be playing games.. You may be able to see if you can have your offer stand as a backup offer.Even if you end up losing out on the property it’s still worthwhile to find out why you lost out. Ask your agent for a comparative market analysis to determine the pricing range. I made offers over and over again but couldn’t land any deals. Hopefully, the above strategies put you in a better place when you’re in a competitive, multiple offer situation. 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. Does this happen a lot, in your experience, that banks will ask for highest and best, even when already in negotiions with one buyer? They may choose to counter all offers, they may only counter a portion of the best offers, or they may decide to choose an offer after the initial submission with no counters at all.

What is an all-cash offer? As the old adage goes: This should almost go without saying, but when highest and best offers are called you should . Is this even leagelThe seller can counter how they want since it is their house. Do your best!
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.

For example:Escalator clause: If the seller receives any offers higher than $100,000, this offer price shall increase to $1,000 more than any higher offer up to $110,000.
Conversely, if the property is new on the market and inventory is low there may be a good reason to believe that multiple offers exist. Sometimes, the seller has a specific situation that makes certain offers more compelling than others.

I had put in an offer on a Friday, the minute the property went on the market. It is tough to decide how to revise your offer and how much to raise your offer in a highest and best situation. Notice how we began the negotiation in a friendly and cooperative manner and avoided any negativity.Allowing the seller to see you as a human being is always a plus.

Sometimes sellers deliberately set a price below comparable sales in an effort to generate multiple offers. You can’t exactly talk directly to the listing agent, but you need your agent to get as much information as possible. Remember to stay calm and try to divorce yourself from any negative emotion throughout the homebuying process.

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