Highest and Best Offer | Multiple offer strategies | What Does Highest and Best Mean?

Описание: #RealEstate #coloradospringsrealestate #firsttimehomebuyer

Highest and Best offer, What does it Mean?
The highest and Best offer is stated, as the buyer, you are always trying to win with the lowest possible offer you can win at. Unfortunately in a seller's market that proves to be challenging when there are competing offers with buyers who are willing to pay more than you want to pay.

The request for the highest and best offer typically comes into play when there are multiple offers on a home. It's an indication to the buyer that the seller has enough offers and will probably not be countering back on price on any offers. They are seeking your highest and best offer so they can make the best decision between all of the multiple offers that they have received. If you want to win the contract you make your highest and best offer.

As the buyer, this is telling you to lay it all on the table, Escalation offers may not be accepted at this point. Typically the listing agent/Seller asks that no escalation clauses to be presented. When there are 5+ multiple offers the seller is not going to counter offer prices at this point. However, if you choose to add an escalation clause, the listing agent will look at your maximum cap on the escalation clause, and if the cap is the highest they possibly will counter your offer removing the escalation and changing the price to your maximum.

I tell my buyer clients to make an offer they are ok walking away from if they did not win. Of course, you only have so many financial resources so that will define your price and any appraisal gaps. If you want to win the home you create an offer that you are confident you have all the financial resources to close the transaction. The listing agent will be asking for proof of funds for appraisal gaps and downpayment. They can verify this information through your lender unless it is a cash offer then they will need copies of bank statements showing the amount of funds.

RELOCATING TO COLORADO SPRINGS:
Feel free to reach out to me with any questions you may have about real estate or relocating to Colorado Springs, Co. If would like information about buying or selling a home in Colorado Springs please feel free to reach out to me my contact information is below. I work often with military relocations
RENE, MRP, ABR, SRES, C2Ex Endorsed by NAR, NINJA SELLING Certified
CONTACT ME:
I am a realtor®-Broker Associate with ERA Shields Real Estate
RENE, ABR, SRES, MRP, C2EX Endorsed by NAR
Ninja Selling Certified.
Colorado License Number FA100070257
6385 Corporate Dr, Suite 301
Colorado Springs, CO 80919
Laura Gallant's Cell (303) 956-1793
Office (719) 593-1000
website: https://mountainprairielivingcos.com/
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