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The Water Cooler
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"Or best offer"
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<blockquote data-quote="O4L" data-source="post: 2956028" data-attributes="member: 24429"><p>OBO has always meant Or Best Offer in any deals I've been involved with.</p><p></p><p>It usually means they will consider offers lower than the asking price.</p><p></p><p>If it means offers over the asking price then it basically becomes an auction with the asking price being the reserve.</p><p></p><p>I have asked 'what has been your best offer' a few times over the years and usually they won't say. They just expect you to make an offer.</p><p></p><p>Someone that states OBO and won't entertain offers must not know what it means or they have been offered the asking price and are hoping for more.</p><p></p><p>I've said it before...Negotiating has become a lost art.</p></blockquote><p></p>
[QUOTE="O4L, post: 2956028, member: 24429"] OBO has always meant Or Best Offer in any deals I've been involved with. It usually means they will consider offers lower than the asking price. If it means offers over the asking price then it basically becomes an auction with the asking price being the reserve. I have asked 'what has been your best offer' a few times over the years and usually they won't say. They just expect you to make an offer. Someone that states OBO and won't entertain offers must not know what it means or they have been offered the asking price and are hoping for more. I've said it before...Negotiating has become a lost art. [/QUOTE]
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