Follow The Offer III

August 9, 2010 · 3 comments

Not much to report on the status of the offer I’ve been discussing

As I mentioned in my last post, the listing agent asked for our best offer last week, and we still haven’t heard anything from the bank. Assuming this were a true “highest and best” situation where there were multiple bidders, I would have expected the bank to make a decision by now. But, given that I believe we are the only bidders, I’m guessing that the bank is stalling in hopes that they’ll get another offer before they respond to us.

We’ll give them until tomorrow, at which point we’ll call and follow-up with the listing agent…

We’re currently in a “highest-and-best” situation on a few different properties right now, so hopefully we’ll have 1 or 2 under contract by the end of the week…

3 responses to “Follow The Offer III”

  1. ezra says:

    So do you pull your offer off the table in a game of chicken?

  2. J Scott says:

    Ez –

    Typically that tactic doesn’t work with the banks…otherwise, I certainly would!

  3. ezra says:

    How about if your partner puts in a lower offer. Makes the bank think your offer is better than it is!

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