REALTORÂ® Keller Williams Realty Atlanta Partners
The highest and best acceptance is strictly seller determined. You want to keep in mind that the phrase "highest and best" encompasses more than just your offer price. It includes other things like closing cost, closing date, earnest money, loan type (cash, conventional, FHA) and more. The seller takes the "whole" offer into consideration when deciding "highest and best".
Don't try and figure out the why... Make YOUR "highest and best" offer (what you feel good about and can live with, win or lose). If it is not accepted, move on. The perfect home for you is out there. Call me if you need help (678) 262-7193.
Toyalee - you may want to interview agents if you don't already have one.
If you have one, then have you heard Albert Einstein's definition of insanity?
Check the web reference.
I agree with Agents below. Make a clean offer. Don't ask for too much. Many of these homes have multiple offers and you must keep in mind that you are competing for a home. The market has changed and many homes are selling over the list price.
Maximum One Realty Executives
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Second, understand the market and area. Under 100K is a seller's market, 100-200 is even and getting to a seller's market. The advantages buyer's had has been mitigated by low inventory, investors and owner occupied buyers getting back in the pool.
Third, keep it simple. If you ask for contingencys, concessions, and anything to muddy the water you will be passed over.
Fourth, ensure everything is included in the offer and is current
Fifth, expect to pay list or over list - see #2
http://hounddogrealestate.com/2012/05/25/impact-of-distresse might be helpful
Rodney Mason, NMLS #151088
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The other part of this is what types of homes are you trying to buy and in what price range?
Only advice I can give without more details is to be more aggressive with your offers and be realistic with them.
NMLS # 6395
Financing Kentucky One Home at a Time
There are no guarantees when making an offer to buy a house no matter what type of sale it is. You are competing against people who can pay cash, close in a week or less and buy â€œas isâ€ without an inspection period, particularly if the property is beyond the first look period. You should expect to lose these bids.
Avoid bank owned, FMAC, FNMA and short sale homes. What ever you make an offer on, make the best offer you can justify, include all seller required documents and proof of funds and appropriate addenda and contingencies, and submit everything together.
Your highest and best offers have not been successful so far. Have they been your HIGHEST and BEST or have they been offers that you and your agent felt were just good enough â€“ because they were not good enough. If in fact you are submitting offers at the very limit of what you are able to pay and you are still losing in multiple offer situations, you may be competing with other buyers whose resources are larger than yours.
You may have to look at houses at a lower price point. Those may still end up in multiple offers but you will be able to make offers that are more attractive to the sellers because you will be able to pay more of a premium for the houses. Discuss this strategy and it ramifications with your Realtor.
I empathize with you. We have a similar market in the San Francisco Bay Area and many buyers are finding it to be a challenge to succeed in buying the house that they want.
1. Make sure your offer is clean without a bunch of contingencies or asking the seller to fix or provide additional items.
2. Provide proof of funds for your downpayment. Show your bank statement along with your pre-approval letter.
3. If 2 offers are identical, typewritten scanned copies are better than anything faxed or handwritten which reduces the print quality and looks less professional.
4. Make sure that your agent submits a completely filled in contract. Leaving blanks can be annoying to the listing agent who may question the professionalism of the agent.
5. Offer at or above asking price.
6. Offer more earnest money, it shows that you are serious. It gets credited to you at closing and will be returned if the contract doesn't get accepted.
I hope that helps.
Jen Bowman, Associate Broker
Keller Williams Realty