Real Estate Negotiation: Final offer, or Highest and Best… What does it mean?!?

I write quite a few offers for real estate in Indianapolis, especially for investors in Indianapolis real estate. Normal chain is that you write an offer, and the seller counters that offer, and you can counter their counter of your original offer , and they can counter your counter of their counter of your offer. You get the picture… These Offers and counter-offers stack up.

I’ll give up the ghost on one of my tricks-of-the-real-estate-trade… Not really a trick, but you get the point..

Eventually you get to a point and either need to go with “Highest and Best offer” or “Last/Final offer”… But there is a subtle difference, can you see it?!? Do you, do you?!? huh?!? HUH?!? hehe

Highest and best limits to whatever the price on that offer is… So if you counter at 100k and say Highest and Best… Then the seller either accepts your offer, or they walk away…

Final offer says “I’m done with the offer-counter-offer thing.. You get one last shot at me before I walk.” So you make that 100k offer, and they realize they need to put up or shut up.

Now, do Realtors and Sellers pick up on these subtle word plays?!? The saavy ones do… The rest will just assume you mean highest and best offer, and you will still get your finality.

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