All Forum Posts by: Ryan Hill

I’ve been asked to make a “best and final” offer on a foreclosure home. The response didn’t give a deadline for my best and final which confused me because in the past I have always been told 48 hours. I offered 86% of the listing price all cash and no contingencies/inspections. This property has sat more than 30 days. It’s brokered through an out of town realtor. I made the offer without entering the home only walking around it. On the phone prior to my offer the broker informed my realtor that no offers had been made prior to my offer yesterday. The market I live in is small. Do asset managers ever use a “best and final” tactic to squeeze more out of an offer when there is not another competitive offer? I am racking my brain. I didn’t know if this ever happens.

Do asset managers ever ask for “best and final”  as a tactic to increase an offer if I am the only offer they received?  I offered an  86% cash offer no contingencies.  They didn’t give a deadline.  My realtor is not the broker and they do not know one another.  The broker does know I am an investor and not been in the house and only walked the perimeter.  The house had been sitting 30 days and prior to making my offer yesterday  he informed my realtor no other offers had been submitted.  I received the request for a best and final today 

I never post on here usually just come to read and educate myself.  I had never encountered this and it’s thrown me off.  The property is a deal even at the Asking but I don’t want to pay anymore than I have to 

That’s what my wife said! Thanks

I am meeting my realtor in the AM and could use some insight before the morning.  Thanks everyone 

I’ve been asked to make a “best and final” offer on a foreclosure home.  The response didn’t give a deadline for my best and final which confused me because in the past I have always been told 48 hours.  I offered 86% of the listing price all cash and no contingencies/inspections.  This property has sat more than 30 days.  It’s brokered through an out of town realtor.  I made the offer without entering the home  only walking around it.  On the phone prior to my offer the broker informed my realtor that no offers had been made prior to my offer yesterday. The market I live in is small.  Do asset managers ever use a “best and final” tactic to squeeze more out of an offer when there is not another competitive offer?  I am racking my brain.  I didn’t know if this ever happens.