I deal with this frequently with foreclosures.  The bank will ask for our highest and best and then they don't like it.  

I had a deal that took us 30 days of submitting offers to get together with the bank.  We just kept submitting our same offer.  Eventually they got the picture and took it.  

Just be persistent

You do what your clients want to do. Here is another look at it...from "possibly" the sellers perspective. The sellers agent probably did their job and let the sellers know that this was the highest and best offer. The sellers do not necessarily have to take that as gospel. I don't know what the difference is in the counter, but it is quite possible that the seller feels the home is worth more than the highest and best offer. I do not think I would ever tell my sellers to just reject and offer because they are at their higest and best, but would advise them that they can counter, but with very low expectations.

I would tell my buyers that the seller apparently feels the home is valued at the counter offer, and now comes down to how much they want the house. I think submiting the same offer again would be a bit of a jab, but would get the point over to the seller. From what you have said so far, it does not appear that this property will be purchased at the buyers highest and best, and they should decide between walking away to find another, or go higher and bester... LOL

Present it again with exactly the same price and contigencies as a formal written offer with an earnest money binder deposit.  If the seller's counteroffer is not acceptable to your buyer, move forward and search for another home.

Look for terms you could tweek, maybe a quicker closing if possible, something that may get the sellers attention. You didn't say if their house had been on the market very long, maybe the seller is just holding their price. Negotiating is my favorite part of this business. If you can't find a happy medium, buyers need to withdraw their offer and move on.

Seller is just trying to see if the buyer will come up some. Hope it works out for you soon.

Yes I saw it. If the builder knew they were there, didn't he also stand a risk of an explosion, if indeed they could explode, while he was building there? And, if he knew, why would he build there? That didn't make sense to me.

Micheal, I'm surprised that your surprised a Highest and Best offer could or would be countered? I would encourage my sellers to counter if the offer isn't what they could accept instead of an outright rejection.  they are letting you and your buyers know that they are willing to work with you, if they can get closer.  

I would be encouraging my buyers to not hold any hope, and start looking for second best...  just my humble opinion though..

shelly

If they really want the home, I agree with Mary. Tweak something! It doesn't have to be the price, shorten the closing time by 5 days. This gives them the message the price is firm but we are trying to negotiate. A flat copy of the previous offer will probably not close the sale. Some minor tweaking could result in an accepted offer. Good luck.

An agreement between a buyer and a seller is always preceeded by negotiations.  The possibility of an agreement continues to exist so long as the parties continue to negotiate, and ceases to exist when the negotiating ceases.  As an agent, your job is to facilitate the process.  Ultimately the negotiating process will result in either an agreement, or not.  Sometime a "best and final offer" is just that, but often its just a negotiating stance.  Want to succeed in real estate?  Learn to be the Henry Kissinger or real estate negotiations! A counter-offer beats a dead offer any day of the week.  And of course, you have to recognize too when the only agreement you will have is the right of both parties to disagree!  Good Luck.

I would do what my clients want.  If you need to counter back with the same offer, so be it.  Make it happen.

I think Mary and Gary have the right idea. Sometime just the slighest change will make someone change the way they are thinking. Good Luck

Present your offer again, remind your buyer that in the negotiation stage the seller may receive other offers.  I'm not real happy with the term "highest and best", at the moment of making the offer all of them are highest and best. If there is no wiggle room left, it's time to move on.

"On a 500k offer I would not think the seller would let a few thousand dollars be a deal breaker."

Don't bet on it!  I have had sellers lose hundreds because they wouldn't budge.  But if it is that close perhaps you and the seller's agent can do a little something too.

Jana

"Highest and best offer" is not something which you can expect a seller to take seriously. I've heard it a hundred times and usually it's not.

I would thank the seller very much for looking at your offer, tell them that the buyer was being truthful when they said "highest and best" and let them know that the buyer would gladly resubmit the offer if the sellers should change their minds.

"The only thing left to tweak is going to be the price and it's only going to end up being a few thousand dollars. "

Which translates into......it wasn't their highest offer.  :)    Isn't negotiating great?  

It may be the highest and best offer due to the increased interest rates.  Our clients were at $600 and now the lender says $575 - So they may be at the very top of what they can qualify for.

Good luck!

Jana