What does OBO mean exactly? My car was for sale OBO $2500? I got a 2500 offer can i wait and c if i get more?

Question

I listed my car for sale at $2,500 OBO. I recently received an offer for $2,500, but I told the buyer that I wanted to wait and see if I could get a higher offer. The buyer then claimed that I was obligated to sell the car to them. Can anyone clarify if that's true? Am I legally required to accept their offer, or can I continue to wait for other potential buyers?

Anonymous · Accepted Answer

Or Best Offer.  Saying that you want to sell your car for $2500 obo,  means that you are wanting $2500 for it but will take the best offer below that if no one wants it at that price.  $2500 would be your full asking price&hellip; if someone offered to pay you full price, then take it!  If you suspect the car might be worth more, then your asking price should have been higher.A good strategy for selling the car would be to ask higher than the car was worth say&hellip; $3500 obo, then settle for $2500-$3000 if you get no responses for full price.Holding out on a man who is offering the full asking price, may send him mixed signals.  He may end up thinking you aren&rsquo;t a serious seller.

Emory Lind · Answer

OBO means Or Best Offer. The phrasing was probably “$2500, OBO”. In other words, if no one was willing to pay the $2500, the seller would accept the best offer.

Anonymous · Answer

$2500 OBO means you are asking $2500, but will take the best offer, even if it’s less. You won’t get more than $2500, and if the guy met your asking price, you are pretty much obliged to sell it to him.

Anonymous · Answer

OBO = Or best offer. No, you don’t have to sell, but I advise you to take the offer. You set the price, now honor it.

Prof. Consuelo Schaefer MD · Answer

“Or Best Offer”. and yes you can wait for a get a “better” offer.Was the selling price $2500 or $25,000.00. Big difference.if no better offer occurs. It goes to the 2500 offer, because it
is the best and only offer. but when does the offer expire? :-})

Anonymous · Answer

Putting an ad in the paper or craigslist doesn’t obligate you to sell to anybody. I think you are wasting your time if you think someone is going to call you up to offer more than $2500.

Caleb Treutel · Answer

Or best offer. They want $2500 but would settle for the best offer.

Anonymous · Answer

OBO Or best offer, hope this helps

Anonymous · Answer

OBO just simply means “or best offer”

Anonymous · Answer

Morally no, technically yes.  The ad implies you are looking for $2500 max.

Anonymous

What does OBO mean exactly? My car was for sale OBO $2500? I got a 2500 offer can i wait and c if i get more?

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