What does "Highest and Best" mean in Tampa Real Estate?

If you are not familiar with that term, it is probably because you have not tried to buy a house in this Hot, Hot, Hot Sellers Market…

In Florida today, many homes will get multiple offers so if you do make an offer on a desirable property, the seller may call for a “highest and best” bid to give buyers  a new deadline for changing (increasing) their offer.

What does "Highest and Best" mean in Tampa Real Estate?

It is a way for the seller to wait to review all the offers at the same time.  Otherwise they may receive a better/higher offer after they already accepted an earlier offer with a lower price.

Here is how it goes…

The seller's agent puts a house on the market and indicates that “Highest and Best” offers will be reviewed in usually 3-5 days by a certain time.  That gives more buyers an opportunity to view the property and submit an offer.  It also encourages buyers who already submitted an offer to adjust their price higher…

The request is for the buyer’s highest and best offer...because the buyer may not get another chance to raise their price.  In other words...everyone must give it their best shot now! 

It is also a way for the seller to wait to review all the offers at the same time.  Otherwise they may receive a better/higher offer after they have already accepted a lower contract.

» MORE DETAILS ON SUBMITTING "HIGHEST & BEST" OFFER

For excellent advice, contact an office that only represents home buyers and never sellers…You will be glad you did!.

Buyers Broker of Florida 727-202-9130 

More Information on Florida Real Estate Contracts

Can You Renegotiate Your House on Closing Day?
Let’s face it, if you are buying a fixer upper property that you plan to renovate, then it is considered acceptable if “things” are not perfect. However, if you are buying a nice house and more importantly paying top market dollar, then you should not be expected to start fixing problems that were not there 30 days ago, when you bought the property. Worried about buying a home? We can make it easy... CALL Buyers Broker of Florida for a confidential and complimentary chat about your best home buying opti
If you do not qualify for financing, what happens?
You are under contract and you determine you cannot qualify for financing. Oh no, now what? Tayna Alexander, Tampa Buyers Broker and Attorney breaks it down for you.
What does "As-Is" Mean in a Florida Real Estate Contract?
One of the Florida Real Estate approved contract is an "As-Is" Contract. This contract is very popular in Tampa Bay Real Estate Market. What does this mean for a home buyers. Tayna Alexander, Attorney and Exclusive Buyers Agent explains.
If I ask for repairs, can a seller cancel the Florida Real Estate Contract?
The home you are buying reviewed more repairs than expected. What do you do now that you have agreed to an "As-Is" Contract. Buyer Broker of Florida explains the options. Tayna Alexander, represents home buyers in their real estate purchase.
What happens when a home doesn't appraise?
As a condition of your loan, the lender will want to have a appraisal done on your home. This is a third party opinion of value. The home should appraise at or higher than purchase price. What happen is the home does not appraise? Learn about your options from Attorney and Buyers Agent representing home buyers in Tampa Bay. For more information 727-202-9130.
Should you waive a home inspection in your Offer?
Should you waive a home inspection in your Offer? Sure this will sweeten your offer but should you? Watch this video with home buyer recommendations from Tayna Alexander Attorney and Buyer Broker.
Can I have a relative inspect my property?
Can I have a relative inspect my property? Before you do this you have to consider how the seller will receive this, if you ask them to fix repairs. Buyers Broker of Florida only represents home buyers in their purchase, never the seller. Call or text 727-202-9130.
What can I negotiate in my Home Purchase Offer? Tampa, Florida
Knowing how to prepare and structure an offer when you purchase Tampa property is important. Choosing an experienced Buyers Agent to assist can be paramount to successfully obtaining the home you want at terms you can live with. Buyers Broker of Florida has over 30+ years in helping home buyers purchase homes. Let their expertise work for you. They only represents home buyer interests and never the seller. They serve Tampa Bay and surrounding counties. Contact them to learn more about their Buyer Brok
Why do Final Walk Through?
So you have purchased a Home and ready to Close. Should you conduct a Walk Through prior to Closing? Yes, you should. Watch the reasons behind this, along with the potential pit falls a buyer can face, if they elect not to do a Final Walk Through. We conduct a Final Walk Through on all of our Home Buyer Client purchases. Contact Buyers Broker of Florida for a no-obligation consultation on buying a home with the help of a Buyers Broker. They can be reached at 727-202-9130 or by visiting their website a

Post a Comment