OBO on Craigslist - What is OBO, How to Post Ads on Craigslist

OBO on Craigslist is the most often used phrase when there are special offers, deals on online platforms. This post will discuss in detail the meaning of Craigslist, OBO on Craigslist, How to write and post Craigslist Ads.

Fig. 1 – Introduction to Craigslist

What is Craigslist

Craigslist is a website for sharing classified advertisements and is popular in America. Individuals can post advertisements on this website for jobs or even classifieds for product sales.

Fig. 1 – Introduction to OBO on Craigslist

Apart from the product specification, the OBO acronym is often used with the price displayed. This abbreviation means “Or Best Offer”. Advertisements on Craigslist often contain acronyms such as WAC, SASE, or OBO. OBO is often used with commercial advertisements and it implies “or best offer”.

There are some more meanings attached to the abbreviation namely one by one, on basis of, observation, official business only, and some more. However, when it is used on craigslist along with the advertisements, it means “or best offer”.

Fig. 2 – Craigslist Classifieds

What does OBO mean on Craigslist

Posts, blogs or advertisement containing a lot of abbreviations creates confusion for the users. OBO on Craigslist usually implies “Or Best Offer”. This term is often used by the seller with the price especially on e-Commerce websites and platforms to hint to the prospective seller that he is ready to negotiate the price of the product that is listed on the website. However, it is recommended not to offer a very low price otherwise the seller would not respond or even reject the offer. OBO phrase opens the ‘purchase–sell’ deal for negotiation between the two parties.

Let us understand with an example. You are searching for a product for $ 1000. You find the product on Craigslist for $ 1500 OBO. Now here, you can negotiate with the seller for the price reduction since they have offered OBO. And may also crack the deal in the price you are expecting. Thus OBO implies the seller accepting a lesser amount than that mentioned in the quotation.

Fig. 3 – OBO on Craigslist

How to Write Craigslist Ads

Ad on Craigslist should be simple and informative. The description should be short, and mention the specifications of the products and quote the best price. So when the seller is normally ready to negotiate for the prices he puts OBO with the listed price. This indicates to the buyer that he can buy the product at the best price after a discussion with the seller.

The step by step process of writing an Ad, specifying a special offer or best deal on a “house” is mentioned below:

As a seller, you want to rent/ sell a house.

Determine and identify the feasibility of costs as per the various attributes.
Even the real estate agents can be contacted for determining the cost and compensation.
Then analyse for timeline, contingencies, and offer price.

If the offer price is negotiable then add “OBO” on it.
Include a good photograph of your product. (House in this example)
Draft an ad with all the details and submit it on the platform.

As per the deal, the sales contract can be finalized and a deal can be signed with the buyer.

Fig. 4 – Housing Ads on Craigslist

How to Post on Craigslist

Follow the steps below to Post your Ad on Craigslist.

Visit their official website.
Click on “ Create a Posting” option on the left side of the page.

Choose the appropriate category based on your product.
Enter details such as, Posting Title, Price, City, your contact information as mentioned on the webpage.
Click on continue.

You can add your product image and click on “Publish” to Post on craigslist.

Fig. 5 – Posting Ad on Craigslist

Countering and Rejecting OBO

OBO provides a place for negotiation in the ongoing deal happening between the seller and the buyer. After the buyer accepts the offer or the seller accepts the counteroffer, then the seller cannot reject the offer unless the buyer denies it. Some countries do have a rule of some period within which the buyer or seller can counter or reject the offer. For Instance, California let the buyers back out from the offer within 17 days. However, this time frame has to be provided in the terms and conditions of the specifications provided in the product details. Also, the buyer and seller have to intimate about the Counter and Rejection of the OBO offer to each other in any means of communication.

The seller also has a right to counter the offer even when the buyer bids at a lower price. If the seller is determined to sell only on some amount that is lower than the listed price, the buyer cannot deny the same. If the buyer is keen to buy the product and is in negotiation with the seller due to an OBO offer, then they can go for some common price after negotiation. Sometimes the counteroffer also gets helpful in asking for comps along with the price offered or accepted.

The original offer is automatically considered void when it is an OBO offer and the buyer has asked for a new price. The conversation continues until the new price is decided. So the buyer and the seller are released from the original contract automatically. Thus the buyer and the seller are allowed to reject the counteroffer, if it does not fall in place. They are also legally allowed to make offers with other third parties for some other product.