Why and how do you care? if he offers the highest price; as a seller that should be your number 1 concern; walk away with your money. If he gives you a million bucks for a 900000 apartment - just to prove something; how do you care you'll end up using the money elsewhere where those folks are not there.

But if you feel they are giving you a low offer, you have the right to refusal... its your apartment you are selling it to get the most money you can!!! Get a real estate broker to take your listing and expose it to the entire brokerage community. someone like me......good luck

In NY, you must hear all bids. No one is putting a gun to your head to force you to accept any bid you do not wish to accept.

How does your neighbor know it is the best you will ever get? National statistics state that Realtor represented transactions gross over 21% more in sales price than unrepresented transactions; so they are not accurate in what they are telling you.

I am pretty sure that you CAN disclose the bid, as you are the seller. Agents cannot disclose bids unless the seller gives direction not to, i've been reading up on some NY real estate law stuff as I plan to move - please correct me if I am wrong. The goal is to get the highest price for the seller and as agents we owe fiduciary responsibility to the seller - not the buyers (unless you are a buyers agent). I also know a tactic where you say the amount you rejected - this let's them know what your threshhold is - i.e. If you feel like not disclosing your neighbors bid, you can say that you rejected an offer of $$$$$$$$ and they can figure out where they need to be.

There is nothing to bring the price up better than multiple bids. Listen to their bid. The next interested party should be told there is an offer on the table (they cannot be told what the offer is). Let them use their imagination on what it might be to cause them to bring in a higher bid.

Gridrion, Your apartment is worth more to a neighbor than any one else. If the neighbor is planning to combine the apartments into a larger apartment the combined apartment is worth more and it is a rare opportunity for the neighbor to combine apartments. Unfortunately neighbors often feel an entitlement to a bargain because they live in the same building and they know the seller. If they already have equity in their apartment buying yours at a premium is still a bargain for them because of it's new combined value.

An experienced listing/marketing agent knows how to negotiate with neighbors to get you top dollar.

Legally, yes, you can pass on any bid, especially a low ball bid. Yes, getting a higher bid elsewhere will definitely send them the message to be realistic and you are not a desperate seller. Good luck Gridiron.

Grid,
When you say exclude the neighbor from bidding...do you mean you are so insulted by their offer that you don't want to sell it to them? There is a way to write a clause in the listing contract with the broker's consent to exclude them, so you will not have to pay a commission within a certain period of time.. I am reluctantly telling you this, because it's not fair to the agent to use them as a bargaining chip..On the other hand if you list it with a motivated agent you may get much more (after commission) than this neighbor will ever pay! As my colleagues have said: I would at the very least tell this neighbor what you think it's worth and also interview some agents...You'll need an agent so you can buy another place, even if it' s someplace else, as getting a referral will get you a much more accountable agent...
I'm not with a firm at present so I can't be your agent or refer you to someone, but I am presently deciding where to go, so email me here or check my profile for agency info in the near future..

They seem to be very interested. You may want to tell them that your price is firm, they have first chance at that price and that it will be put on the market on a specific date and they will have to then take the chance of bidding against other buyers. On the qt, you may want to start getting it appraised and ready for the market. From my experience, buyer's of FSBO automatically deduct from their offer the commission you "would have paid" anyway.

you do not have to accept any bid you don't want to accept. It should not matter who is doing the bidding...it is the amount of the bid that is important.

Hi Gridiron. Why would you want to exclude anybody from bidding. If their bid is too low, you just don't accept it. I have to tell you that your experience is typical for FSBOs as people who bid on FSBOs always take into consideration that there is no commission. They want a piece of the pie. Good luck.

Just because they make a bid does not mean you have to accept it, even if it is higher than another bid.