One fact Bank’s don’t want you to know when you offer on a Foreclosure

    Are we playing craps?

    Highest and best refers to a two prong test for any offer written on a seller’s home, condo or town-home that is for sale.  When an offer is written by a Buyer’s Santa Clarita home buyers two stepsAgent, and when more than one offer has been written by different buyers agents on the same property, a typical response is “Give us your buyers Highest and BEST!”

    The “Highest Part”

    Highest, always bottom lines at price.  What will the seller net with each individual offer that has been submitted?  There are many different “seller to pay”
    for items that may be built into any offer.  These can include Buyer’s real estate closing costs, well and septic certification, requests for additional funds and more.  After those deductions, with the submitted offer are taken into account, which offer equates to the “highest net” for the seller.  Which one will make the seller the most Money?

    The “BEST part”

    Best usually always have to do with financing.  The best type of offer, the one held in the highest regard, is the “suitcase” full of cash.  Cash is King everywhere, including in Real Estate.  However, 20 percent and more “conventional offers” run a close second.  The reason for Strong Conventional offers being very close to cash offers, has to do with the banks(if they are the owner), not being able to close any faster than 30 days.  30 days is the typical time-frame for closing(escrow time) with a Conventional Offer.

    With FHA and VA offers, some sellers are under the impression they will net less overall.  That could be the case, if the property needs any repairs to allow them to pass the FHA or VA appraisal.  However, a real estate expert should be able to guide the sellers with regard to their specific property and why or why not it might not finance for certain loan types.

    Local agents give you the best advantage

    The most important thing you may want to realize is about working with a Local Santa Clarita Real estate agent.  This will benefit you in many ways, including what to consider when approaching a “highest and best” counter offer.

    Here is a Santa Clarita Real Estate questions video.  BE Safe and let us know if we can help you and how you liked this post.  For more Santa Clarita real estate video’s please check out our Paris911 on YouTube Channel.

     

    Trackback from your site.

    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.

    Leave a Reply

    Contact Us Now

    Any questions, comments, or feedback

    SCVnest Radio Show (listen now)