Or Nearest Offer

What is or nearest offer?

Or nearest offer (ONO) is a term used in real estate to indicate that the seller is open to considering offers close to the listed price. It can suggest that the seller is flexible and willing to negotiate. 

Can an agent reveal offers made by others? 

In some cases agents may inform potential buyers about other offers on the property. However, they typically maintain confidentiality regarding the details, like the offer amount or terms, unless the seller permits disclosure. This approach ensures fairness and transparency in negotiations while safeguarding the privacy of all involved parties. 

How much lower can I offer than the asking price? 

The extent to which you can offer below the asking price depends on various factors such as the current market conditions, the level of competition for the property, and the seller's motivations. It's advisable to consult with your real estate agent to determine a reasonable offer amount based on these factors.