Requesting a best and final offer is a seller's tactic to try and encourage high offers on a property. The usual process is that an estate agent will advise potential buyers to make their offer by a certain date. This avoids the need for the seller to enter into negotiations with multiple purchasers.
After visiting the home and considering their budget, potential buyers will make an offer on a property. This offer is typically delivered by the buyer's agent to the listing agent, and the listing agent passes on the offer to the seller.
How To Write A Winning Offer For An Investment Property Work With A Real Estate Agent. Do Your Research. Determine Your Maximum Offer. Lead The Offer With Intent. A well-crafted LOI demonstrates your seriousness as a buyer and can set you apart from other potential buyers. Be Flexible With Contingencies.
You will need a letter from your lender and this letter will be presented to the seller and their agent with any offer. You will need to be ready to pounce on any house you like, the moment it hits the market and be prepared to make an offer when you preview the house, right then and there.