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Good Morning New York, Real Estate with Vince Rocco

Good Morning New York, Real Estate with Vince Rocco

Tuesday at 6 AM Pacific

July 18th 2017:Working your purchase offer effectively

So your broker has put in an offer on the apartment you really want to purchase and you’re waiting to hear back. Ideally, you would prefer that the listing broker directly engages your broker in a 1:1 conversation to begin negotiations. However, this isn’t always the case. When competition for a specific condo or co-op is high, the listing broker may not counter your offer. Rather, the listing broker may stay silent for a few days and then inform your broker that they’ve received numerous offers and they would like for you to submit your “best and final” offer. Being asked to submit a best and

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https://www.voiceamerica.com/show/2311/good-morning-new-york-real-estate-with-vince-rocco 20/10/2017 07:00 20/10/2017 08:00 Good Morning New York, Real Estate with Vince Rocco https://www.voiceamerica.com/show/2311/good-morning-new-york-real-estate-with-vince-rocco So your broker has put in an offer on the apartment you really want to purchase and you’re waiting to hear back. Ideally, you would prefer that the listing broker directly engages your broker in a 1:1 conversation to begin negotiations. However, this isn’t always the case. When competition for a specific condo or co-op is high, the listing broker may not counter your offer. Rather, the listing broker may stay silent for a few days and then inform your broker that they’ve received numerous offers and they would like for you to submit your “best and final” offer. Being asked to submit a best and final offer can be tricky because on the one hand you might really want the apartment, but on the other hand you don’t necessarily want to overpay. Finding the balance can be challenging, and if you’ve been on the losing end of a bidding war several times, this may completely change your strategy going forward. VoiceAmerica | Talk Radio | Online Talk Radio studio@voiceamerica.com false DD/MM/YYYY Add to Calendar
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