{"id":26068,"date":"2025-03-12T07:45:25","date_gmt":"2025-03-12T12:45:25","guid":{"rendered":"https:\/\/www.lakehomes.com\/info\/?p=26068"},"modified":"2025-03-14T08:54:43","modified_gmt":"2025-03-14T13:54:43","slug":"whiteboard-topics-in-lake-real-estate-highest-and-best-offer-is-not-an-auction","status":"publish","type":"post","link":"https:\/\/www.lakehomes.com\/info\/lifestyles\/whiteboard-topics-in-lake-real-estate-highest-and-best-offer-is-not-an-auction","title":{"rendered":"Whiteboard Topics: In Lake Real Estate &#8220;Highest And Best Offer&#8221; Is Not An Auction"},"content":{"rendered":"\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Whiteboard Topics: In Lake Real Estate &quot;Highest And Best Offer&quot; Is Not An Auction\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/eNfklgHXUS4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>When you are buying or selling, there may be terms thrown around, such as &#8221; Highest&#8221; or &#8220;Best&#8221; when referring to offers. In reality, it&#8217;s not an auction. It&#8217;s actually the furthest thing from it. Lake Homes Realty&#8217;s CEO, Glenn Phillips, breaks down the different meaning meanings behind these terms.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Not An Auction!<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>Highest $ May Not Win:<\/strong> The highest is strictly just a number. This does not ensure whoever offers the highest amount will be the one purchasing the property. The seller is the one who decides who they want to do a transaction with.<\/li>\n\n\n\n<li><strong>Seller Selects Their Buyer:<\/strong> When it comes down to the transaction, it is fully up to the seller to decide how and if they want to proceed.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Look To &#8220;De-risk The Deal&#8221;<\/strong>&#8211; Remove the probability the seller might become uncomfortable with the offer.\n<ul class=\"wp-block-list\">\n<li><strong>Cash Versus Mortgage: <\/strong>Over half of the transactions done at Lake Homes Realty are made in cash. That doesn&#8217;t mean mortgages don&#8217;t happen. In the instances when a mortgage is in play, there is always the chance it won&#8217;t go through. There could even be an appraisal gap. Using cash is one less risk.<\/li>\n\n\n\n<li><strong>Timeframe Might Be Important:<\/strong> A seller could want to move very quickly or they might not have a time constraint. Utilizing the time frame and the nuances that come with it can help to make your offer the best.<\/li>\n\n\n\n<li><strong>Size Of Earnest Money:<\/strong> As a seller, seeing someone with a bigger size of earnest money can lead the seller to think they have more intent on wanting to purchase the home.<\/li>\n\n\n\n<li><strong>Fewer Contingencies:<\/strong> It&#8217;s not just the mortgage aspect. There could be home inspections, HOA fees, and a whole list of other things. If you are able to eliminate any of those extra contingencies, that can remove the possibility that the seller is uncomfortable. <\/li>\n\n\n\n<li><span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\"><strong>Simplicity:<\/strong>\u00a0If things become too complex, it can lead to the seller becoming confused, which, in turn, leads to the seller saying no.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<p>When it really comes down to it, the &#8220;Highest and Best&#8221; offer can be great but can also hold a lot more nuance than people might realize. If you still have questions regarding which ways to navigate offers, talk with an agent at <a href=\"https:\/\/www.lakehomes.com\/\">https:\/\/www.lakehomes.com\/<\/a>. They would be more than happy to help you along your real estate journey.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When you are buying or selling, there may be terms thrown around, such as &#8221; Highest&#8221; or &#8220;Best&#8221; when referring to offers. In reality, it&#8217;s not an auction. It&#8217;s actually the furthest thing from it. Lake Homes Realty&#8217;s CEO, Glenn Phillips, breaks down the different meaning meanings behind these terms. When it really comes down to it, the &#8220;Highest and Best&#8221; offer can be great but can also hold a lot more nuance than people might realize. If you still have questions regarding which ways to navigate offers, talk with an agent at https:\/\/www.lakehomes.com\/. They would be more than happy&hellip;<\/p>\n","protected":false},"author":50,"featured_media":26069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15429,12062,3],"tags":[341,20,96,8128,63,139,10090,33,149,138],"class_list":["post-26068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ceo-insights","category-for-buyers-advice_and_tips","category-advice_and_tips","tag-lake-activities","tag-lake-homes","tag-lake-life","tag-lake-lifestyle","tag-lake-living","tag-lake-real-estate","tag-lake-real-estate-advice","tag-real-estate","tag-real-estate-advice","tag-real-estate-tips"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Whiteboard Topics: In Lake Real Estate &quot;Highest And Best Offer&quot; Is Not An Auction<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lakehomes.com\/info\/lifestyles\/whiteboard-topics-in-lake-real-estate-highest-and-best-offer-is-not-an-auction\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Whiteboard Topics: In Lake Real Estate &quot;Highest And Best Offer&quot; Is Not An Auction\" \/>\n<meta property=\"og:description\" content=\"When you are buying or selling, there may be terms thrown around, such as &#8221; Highest&#8221; or &#8220;Best&#8221; when referring to offers. In reality, it&#8217;s not an auction. It&#8217;s actually the furthest thing from it. Lake Homes Realty&#8217;s CEO, Glenn Phillips, breaks down the different meaning meanings behind these terms. When it really comes down to it, the &#8220;Highest and Best&#8221; offer can be great but can also hold a lot more nuance than people might realize. If you still have questions regarding which ways to navigate offers, talk with an agent at https:\/\/www.lakehomes.com\/. They would be more than happy&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lakehomes.com\/info\/lifestyles\/whiteboard-topics-in-lake-real-estate-highest-and-best-offer-is-not-an-auction\" \/>\n<meta property=\"og:site_name\" content=\"Lake Homes Realty Articles and Info - LakeHomes.com\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/LakeHomesRealtyLLC\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-12T12:45:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-14T13:54:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lakehomes.com\/info\/wp-content\/uploads\/2025\/03\/ww-photo.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1001\" \/>\n\t<meta property=\"og:image:height\" content=\"661\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Zac Parnell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@lakehomesrealty\" \/>\n<meta name=\"twitter:site\" content=\"@lakehomesrealty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Zac Parnell\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.lakehomes.com\\\/info\\\/lifestyles\\\/whiteboard-topics-in-lake-real-estate-highest-and-best-offer-is-not-an-auction#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lakehomes.com\\\/info\\\/lifestyles\\\/whiteboard-topics-in-lake-real-estate-highest-and-best-offer-is-not-an-auction\"},\"author\":{\"name\":\"Zac Parnell\",\"@id\":\"https:\\\/\\\/www.lakehomes.com\\\/info\\\/#\\\/schema\\\/person\\\/9cbf402577eba742431b2314f5af1b91\"},\"headline\":\"Whiteboard Topics: In Lake Real Estate &#8220;Highest And Best Offer&#8221; 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