Highest and Best offer

In Ocala foreclosures the term, Highest and Best Offer, seems to be coming up more and more. Foreclosures here in Ocala are very hot. Banks are now trying to get buyers to bid against each other.

Here’s how it goes. You find yourself a nice foreclosure and make an offer. A few days later the listing agent sends your buyers agent a form or email asking you to submit your Highest and Best Offer. The reason being that there are multiple buyers interested in the same house.

Not all foreclosures are created equal. Some are just a lot more desirable than others. Banks can’t get away with this on every property.

There was a time a few months ago when this practice was rare but it is becoming more common as more and more buyers are looking for a great buy on a foreclosure here in Ocala Florida

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