For the majority of buyer clients, this is the hope: the offer is perfect, cut out the dickering, and instead you can spend your valuable time worrying about paint colors and moving companies.
And it could occur. By all means, curated sellers accept the first offer presented, and in Alexandria for a host of reasons.
But, sellers are also known to reject offers because of rationale known only to them. Or make counteroffers. A counteroffer is very likely if you make an offer with lots of conditions, or when the property or area is highly sought after.
If the seller counters, it's now the property hunter's turn to either accept, continue negotiations or move on to the next unit in 22314 in Alexandria.
In cases such as these, as your Realtor, I'll be standing by so you can email me. I will be your guide for real estate in 22314 in Alexandria, when you think it's your home, then I'l help you to wrangle with the seller. By this I mean that I will use my experience and negotiating patience as we craft a series of offers and counter-offers to help get you the dream deal on the home you want. This is what I do every day.
But, I'll provide advice but you'll provide direction and make important decisions. I’ll help you understand the negotiating ideas we will deploy. Those tactics will vary depending upon the home but in Alexandria here are some basics we come back to time and time again.
In Alexandria, Virginia, here are fascinating practices every buyer should know when negotiations start:
- Within 24 hours of receiving a counteroffer, you should respond so that you can lock in a deal. Waiting to respond leaves time for another buyer to make an offer, and if a seller senses hesitation, he or she may withdraw their counteroffer before you even have time to respond.
- Ask for Fewer Concessions
Home buyers have to cover many additional costs at a mortgage settlement, such as closing costs for taxes, lender’s fees, and title company fees. Depending on your location, the closing costs will vary, but you can expect to pay between 3% and 4% of the home’s selling price. The seller pays an additional 1% to 3%. (You can use the closing cost calculator on our site to get an estimate of what your closing costs might be.)
You have the option to ask the seller for concessions when you make your initial offer. This may come in the form of a cash settlement to help you offset your share of the closing costs, but this may not be feasible if the seller has received multiple offers on the property.
Requesting concessions will ultimately lower the seller’s net proceeds from the sale. The seller may make a counteroffer that removes the concessions, which ends up putting cash back in the seller’s pocket and can improve your bid.
Buy Your Own Home Warranty
Sometimes home sellers offer prospective the buyer a home warranty. A home warranty is a plan that covers the cost of repairing major home appliances and systems, like the air conditioner or hot water heater, if they break down within a certain period (typically a year after closing). According to Angie’s List, a basic home warranty costs about $300 to $600 a year. If you want the home warranty, you can tell the seller they don’t need to cover it — then buy it yourself.
Just keep in mind, whether you or the seller buy the warranty, you’ll need to pay the service fee (typically between $50 and $100) if something does, indeed, need to be repaired while under warranty.
Also, FYI: A home warranty is entirely separate from homeowners insurance. Homeowners insurance — the security blanket that covers your home’s structure and possessions in the event of a fire, storm, flood, or other accident — is required if you take out a mortgage. It can cost anywhere from $300 to $1,000 per year.
Are you interested in a wonderful unit in 22314 in the City of Alexandria?
1 beds, 1 full baths
Home size: 610
Added: 09/07/19, Last Updated: 11/02/2019
Property Type: Unit for Sale
MLS Number: VAAX239486
Subdivision: Potowmack Crossing
List Price: 249990.00
Properties in The City of Alexandria $199,990 to $299,990
Find out why our clients love us. Call (703)765-0300. I’m a local expert on Northern Virginia real estate.