Highest and Best Confusion

[Dee Powers]

I wrote and offer on a REO property. Banks says there were multiple offers, send your Highest and Best. I did....and my offer was accepted. Problem is...they finally sent the ratified contract and it's for the amount prior to my highest and best and includes closing which my highest and best didn't. Is this contract binding? Or can the bank come back and so oh no..we meant blah blah. The difference between this contract and my highest and best is about 20k.

[Ron S.]

Originally posted by @Dee Powers:

Ron S...I hope I am not making this more confusing.  Using your analogy... my offer Y included me asking for closing cost.  They accepted Z but sent ratification on Y.

Vera...it was lower.

Sounds like an error that might be in your favor? I'd ask for clarification. To be ratified, must contain all elements to be a valid contract. If they accepted your offer but what they interpreted was different than what you offered (and there is a paper trail) i would say it's not valid at this point but if the error was in your favor, sign it! and see if it goes through.