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10-07-2009, 02:54 PM
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Banks Asking "Highest/Best" Offers for...
...Foreclosures? I'm looking to purchase a foreclosure property which the bank is asking $259,900 for. The bank is asking to get pre-approved by SunTrust and is also asking for highest and best offer. I already got pre-approved, sent my offer in for $265,000 because I really want this property. I will give 10% down. Need some help understanding the highest/best offer thing and am I in good shape with my offer?
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