Need Help - Best and Final Request

[Account Closed]

The Data -

HUD Property
ARV 105K
Repairs needed = 16K
Asking Price = $72K (reduced from $79K)

First offer was all cash, $51000.

They have now asked for the "best and final" offer due to "multiple offers".

Do I ignore the fact that there are "multiple offers" and just go straight with the numbers. I am rehabbing to sell with estimated time to complete being around 60-90 days.

Based on 70% ARV - repairs, my BEST offer would be $57K, but that would not account for any overages on rehab. Additionally, this will be an all-cash purchase, so am I allowed a little wiggle room on the 70%?

Thanks for your help. Oddly, they only gave me ONE DAY to make the best and final.

[Steve Babiak]

How bad do you want it? Are you willing to (over)pay through the nose, or would you rather walk away first?

When I hear those words - "Best and final offer due to multiple offers" - I tell them they already have it. End of playing their games that way.

Last time that happened to me, the bank didn't take any of the offers that they had ... house remained listed for a number of months.