Best and Final Offer? I've submitted an offer on an REO and the bank has come back and asked for a best and final offer. Does this automatically mean I wasn't the highest bid? What really does it all entail and mean?March 18 2009 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.