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Why run? You have nothing to lose by just staying with the offer you gave them and not increasing it anymore. You get it or you don't and move on. I have more than once just stayed where I was when asked for a highest and best and ended up buying the property.
often a buyer, or buyers broker will call and ask how the offer is standing, the listing broker will not divulge other offers, so, often they will say, give us your best and final offer, which i would interpret as my last offer isnt the best one on the table....
now keep in mind, offers arent just about money, but time, cash offers, not selling to buy, contingencies, etc.
I would make a final and best offer if you want the property
OK, call me stupid, but I am not understanding if the first offer was 50 bucks or 50K over list....
'I would assume 50K as the OP bid over list the first time and this other person won. what did the OP bid then? $20 bucks over list?
the best and final game is just that a game, words used to get a higher price from the bidders with the thought process that the highest gets the property. until the owner isn't happy with the offer
often a buyer, or buyers broker will call and ask how the offer is standing, the listing broker will not divulge other offers, so, often they will say, give us your best and final offer, which i would interpret as my last offer isnt the best one on the table....
now keep in mind, offers arent just about money, but time, cash offers, not selling to buy, contingencies, etc.
I would make a final and best offer if you want the property
The other side is hoping you will interpret it that way and bid against yourself. You never know and it may be the best offer on the table as I have already pointed out in my previous post. At this point the buyer has to decide what they want to do, but there is no reason to pull out of the negotiations should you decide you don't want to go any higher.
Why did it fall through? Was it because of inspection?
I wish there was a way you could find out instead of bidding higher then paying for an inspection and it falling through on you too. WTBS, it depends on how much you love the house. If you feel like you can walkaway from it. Then I'd say walkaway.
'I would assume 50K as the OP bid over list the first time and this other person won. what did the OP bid then? $20 bucks over list?
the best and final game is just that a game, words used to get a higher price from the bidders with the thought process that the highest gets the property. until the owner isn't happy with the offer
Well, of course, that's what I assumed....at first. But the OP did not say whether he bid list, he just said his was the next-best offer.
So if the sellers had an offer 50 THOUSAND over their listing price, and the next-best offers are 50K less than that offer, I can imagine why they are thinking they badly underpriced to begin with.
Well, of course, that's what I assumed....at first. But the OP did not say whether he bid list, he just said his was the next-best offer.
So if the sellers had an offer 50 THOUSAND over their listing price, and the next-best offers are 50K less than that offer, I can imagine why they are thinking they badly underpriced to begin with.
Actually, the OP said very clearly,
Quote:
Bid over list originally, and they went with a guy who,bid 50 over list
Of course, having more than one buyer willing to pay over the list price is a clearer sign that the property was under-priced.
Of course, having more than one buyer willing to pay over the list price is a clearer sign that the property was under-priced.
Oh geez, I'm sorry, how did I miss that? And I even read it twice. Sorry....
I'd still be curious to know how much the other bids are over list -- 50K is quite a lot, unless we're talking million-dollar homes. And why the +$50K bid fell through.
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