The High Road: Best and final offer is illusory

There is normally no magic involved in choosing a best and final offer. (Flickr photo by Emz.watson)

We are told early in the week that the listing broker already has two offers in hand.  All other offers are due by Friday at 5 p.m., she says.

Fair enough, but then she adds that best and final offers have a deadline of the following Monday at 5 p.m.

A double-deadline in advance is strange, indeed.  What usually happens is that a listing agent has several offers in hand, doesn’t see a clear winner and only then, in concert with the seller, asks for best and final offers.

That’s the typical procedure. Continue reading