Highest & Best Offer

[Andy McNeany]

I have been researching and learning from the sidelines for years. I have finally put myself in a position to start my investing journey and am eager to get going. I submitted my first offer on a home to use as a rental, they asked for an extra day to consider the offer. I gave them 2 extra days verbally without rewriting an offer. After the 2 days they said they would not counter my offer and that I should submit my best and highest offer. I have decided to walk away and not negotiate against myself. Am searching for other options and may circle back in a month if I haven’t found anything and it is still on the market.

Am I handling this ok? I was prepared to go higher to purchase depending on their counter but this rubbed me wrong.

[Joe Villeneuve]

Quote from @Andy McNeany:

I have been researching and learning from the sidelines for years. I have finally put myself in a position to start my investing journey and am eager to get going. I submitted my first offer on a home to use as a rental, they asked for an extra day to consider the offer. I gave them 2 extra days verbally without rewriting an offer. After the 2 days they said they would not counter my offer and that I should submit my best and highest offer. I have decided to walk away and not negotiate against myself. Am searching for other options and may circle back in a month if I haven’t found anything and it is still on the market.

Am I handling this ok? I was prepared to go higher to purchase depending on their counter but this rubbed me wrong.

You mean you would turn down a potential good deal, that would depend on you raising your bid to a level you admitted your were willing to go to, just because you were "rubbed the wrong way"?  Seriously?

Asking for "highest and best" is a very common event...and one you had better understand the how's and whys, because it is a great tool for you to use as a seller.