31 – Highest and Best Offers

“Highest and best” is a term used by sellers, usually banks, to signify that they have multiple bids on a property and would like all potential buyers to submit their highest and best offers. The idea is that you give them your best final offer, and then they make a decision based on the offers they receive.

  1. Highest and best should not scare you if you know your numbers.
  2. Highest and best does not always mean multiple bidders.
  3. Sometimes you can lower your bid.
  4. There are other fish in the sea.

The bottom line is that “highest and best” is a request from the seller. Never let it intimidate you, and always stick to your numbers.

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