Highest and Best Offer Solicitation Approach

[Trent Bennett]

We are going to be selling a highly sought after property. We are considering using the "highest and best" offer solicitation right out of the gate. Does anyone have pros, cons, or any ideas they could share. We have a friend who used it to sell some farmland, and the highest offer was well above his listing price expectations. Below is our draft solicitation letter.

123 Main Street – Anytown, USA

Request for Highest and Best Offer

Dear Buyer’s Agent/Buyer,

Thank you for your interest in the property located at 123 Main Street, Anytown, USA. Due to the high level of interest and multiple offers received, the seller has elected to request all interested parties to submit their highest and best offer.

To ensure a fair and efficient process, please submit your highest and best offer by no later than Monday, May 5, 2025 by 5:00 PM EST. Offers should be emailed to (email address) and include the following:

• Purchase price

• Proposed closing date

• Any contingencies (e.g., financing, inspection, appraisal)

• Amount of earnest money deposit

• Proof of funds or pre-approval letter (if applicable)

• Any additional terms or conditions

Please note that the seller reserves the right to accept, reject, or counter any offer at their discretion. This is an opportunity for you to present your strongest offer, as the seller intends to review all submissions and make a decision shortly after the deadline. No further negotiations will be entertained unless initiated by the seller.

If you have any questions or need clarification, feel free to contact Happy at (phone number) or (email address).

Thank you,

Property Owners: