Is the HIGHEST offer Always the BEST ?

Reblogger Anna Banana Kruchten
Real Estate Agent with Phoenix Property Shoppe 602-380-4886
http://actvra.in/xmv

Phoenix Home Buyers!  A Must Read Article to Read and Ponder!


Sometimes making your highest and best offer  - and then adding on a lot of seller needs to do this and seller needs to to that - doesn't make your offer the highest and best offer.

Be very careful when asking for seller concessions and make sure your agent knows the market upside and down. They can guide you with accurate advice and up to the minute stats.

Staying on top of the Phoenix Market is what I do. Call me if you need some help buying a home.

Original content by Sally K. & David L. Hanson

Money    We are the listing agents....who want your "highest and best" offer the first time...not fond of multiple counters with twists and turns...inclusions that are not listed as being included....closing dates that no one could possibly accomodate, pennies for earnest money and the all time favorite "Seller to pay closing costs of up to and including $$$$$".

   We believe the best offers are offers where the Buyers have shown some "skin in the game."   The choice to buy a home...save for down payment, pay closing costs, due a timely inspection, are taken care of by the buyer(s).

   Of late, we have seen some "over the top" offers...beyond the asking price with a laundry list of what the seller will do....or in the case of Short Sales, what the Buyer and their agent expect the bank will do for the money that they choose to offer. The list can include but is not limited to....closing cost credit, inclusions of items not included in MLS from major appliances to landscape decor and the list goes on and on.

    Then there are offers...earnest money within 3 days of Sellers' acceptance, 10 day inspection contingency, reasonable price that will appraise...not an out of the park number likely to encounter further negotiation, and a reasonable closing time...ahhh....how do you Spell relief ?  Not always the highest...but these kind of offers are the best.

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS

Sally K. & David L. Hanson  

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Ambassador
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Emily Medvec
Keller Williams Santa Fe - Santa Fe, NM
Realtor, Santa Fe NM |CNE CRS RSPS | 505-660-4541

Anna, thank you for this re-blog. I agree highest and best can often end up as an offer that does not close. This is where solid negotiation skills and comps and common sense are often the better route as the blog suggests.

Mar 14, 2012 04:44 PM #1
Rainmaker
1,484,992
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Authentic Feng Shui Expert

Yes, Anna I agree with Emily here. Closing takes priority. :)

Mar 14, 2012 04:46 PM #2
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Anna Banana Kruchten
Phoenix Property Shoppe - Phoenix, AZ
Phoenix Real Estate Agent, CRB, CRS 602-380-4886

Emily - you're welcome.  It's such a good post that accurately indicates what's happening in so many areas. The general public needs to know this stuff.

 

Laura - it does. And what we've seen in Phoenix is buyers bidding up ricdiculously high (oh why or why do their agents not advise them properly) and then the APPRAISAL comes in low and guess what.....back on the market.  I've seen at least a dozen of these just this past few days in a very small niche area or ours.

Mar 14, 2012 05:24 PM #3
Rainmaker
710,215
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggresive & 560 FICO - OK, Colorado Mtgs

Good and worthy reblog. I also have to add (you know this lol) it goes with the territory that the low offer is also not generally the worst. Each one stand on its own merit and should be viewed carefully from many aspects to make an informed rebuttal or acceptance

Mar 14, 2012 07:07 PM #4
Rainmaker
697,695
Cindy Edwards
RE/MAX Checkmate - Johnson City, TN
CRS, GRI, PMN - Northeast Tennessee - 423-677-6677

Great re-blog.  Yep comps are so key in our business.  We are not here to just give the information up on a whim.  Enjoying the comments as well.

Mar 14, 2012 07:17 PM #5
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Anna Banana Kruchten

Phoenix Real Estate Agent, CRB, CRS 602-380-4886
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