For many people, this is the idea: there are no negotiations, forget about negotiating, and allowing you to focus on your upcoming home ownership.
And it might develop. By all means, some owners accept the first offer put before them, and in Northern Virginia for various rationale.
Conversely, homeowners are also known to reject offers because of a variety of reasons. Or make counteroffers. A counteroffer is especially certain if you bid low, or when the property or area is highly sought after.
When you receive a counteroffer, it's your option. You can accept, continue negotiations or move on to the next townhouse in Northern Virginia.
In cases like these, as your Realtor, I'm there to help when you contact me. I will be your personal ace to real estate negotiations in Northern Virginia, if you choose to negotiate with the seller. By this I mean that I will use my experience and negotiating skills as we craft a series of offers and counter-offers to help get you the perfect deal on the townhouse you really want. It's the reason Realtors like me exist.
During negotions, I'll provide advice but you'll provide direction and make important decisions. I’ll help you understand the negotiating tactics we will deploy. Those practices will vary depending upon the residence but in the City of Alexandria here are some basics we frequently implement.
In 22314, let's examine a few rules every property hunter should know at the outset:
Raise Your Price (Within Reason)
Nobody wants to overpay for a house, but you may have to increase the amount of your offer, especially if you offered a low amount to begin with. Let your agent guide you regarding the amount by which to increase your offer so that it will be more appealing to the seller.
Through the power of persuasion, I will be able to make your counteroffer look more appealing by pointing out other similarly priced homes – or comps – in the area that are similar in size and features.
The situation can be stressful and may feel like it is escalating quickly as i negotiate, and you may feel as though you are willing to do whatever it takes to win. But we will keep several things in mind throughout this process:
- You have to stay within the monetary boundaries of the pre-approved amount you received from your lender.
- You should never overextend your budget.
- Your counteroffer needs to be an amount that you’re comfortable spending on a home since you want that house but you want to be able to continue living comfortably as well.
- Keep in mind that you’re not out of options.
- It is best to respond within 24 hours when you receive a counteroffer, so you will be preventing another client from making a better offer than you. Be sure to not wait too long because if the seller senses any hesitance on your end, he/she may withdraw the counteroffer without you responding to it.
- Walking away may be the Best Choice
Negotiations can be physically and emotionally draining and very time consuming. When you’re negotiating with a seller, make sure you listen to your agent – and to your gut. If either is telling you that it’s a bad deal, walking away may be the best choice.
If you feel like you can’t make any more trade-offs and the seller won’t budge, don’t give in any more than you are comfortable with. Walking away can be a tough decision to make, especially after all the hard work you’ve put in, but you should know that there is a better deal out there waiting for you. And once your frustration passes, you’ll know that you have more experience in this and next time you negotiate, it will be easier for you.
Are you interested in a engaging residence like 620 S Lee St in Northern Virginia? I can guide.
3 beds, 3 full, 1 part baths
Home size: 1782
Added: 11/22/19, Last Updated: 11/22/2019
Property Type: Townhouse for Sale
MLS Number: VAAX241678
Subdivision: Old Town SE Quadrant
List Price: 1285000.00
Properties in Alexandria $1,235,000 to $1,335,000
Fabulous opportunity to own a historic gem in Old Town! Located on a beautiful block in the SE quadrant and a short stroll to shops, restaurants, parks, the river, public transportation and the Mt. Vernon Trail. This chicly renovated home has four upper level bedrooms, 2 full and 1 half baths, hardwood floors throughout, 4 fireplaces, abundant natural light, vaulted ceiling in the kitchen, exceptionally large living room and versatile living spaces. The outdoor space, accessed via a Dutch door in the kitchen or French doors in the dining room, is private and perfect for relaxation or entertaining. A delightful brick shed is tucked in the back for storage and a gate leads to an ally for easy access. This home is a charmer in a special location not to be missed!
Amazingly, grand historic semi-detached row home in the heart of Old Town Alexandria full of modern touches. Home is currently LISTED BELOW RECENT APPRAISED VALUE. Walk or bike to the Old Town Waterfront where you can enjoy restaurants and shopping or take the Water taxi to The Wharf or National Harbor. With a 94 Walkscore rating, it is a “walker’s paradise”. Your new home is ready for entertaining, with an open floor plan, gourmet chef’s kitchen and french doors that open to a fully fenced private yard. In addition to the modern finishes, you will find historic traites, including vaulted ceilings on the 2nd floor with orginial exposed, refinished beams. You are also minutes to National Airport, the Pentagon and DC. This home is truly beautiful and must be seen in person before it is gone. The home has been fully restored with new additions in the back and upper levels. Full plans can be provided. See documents for floor plans, features, survey, and other forms. Home Warranty will be provided from HSA Home Warranty. Home has 24/7 Home Security/Video monitoring. Sister semi detached home at 421 N. Columbus listed at $1,398,000 (VAAX238950)
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Absolutely stunning home with luxury finishes throughout, abundant natural light, high ceilings and spectacular views of the Potomac River and U.S.Capitol. Large, open kitchen with Wolfe range and marble counters. Custom window treatments and hardwood flooring on all levels. Close proximity to public transportation, parks, restaurants and the Mt. Vernon Trail. Garage parking for two cars.