Oftentimes, this is the hope: the offer is perfect, there is no negotiation to handle, and and you can instead focus on what you're going to do with your new end unit townhouse.
And, once in a while, it come ups. We know that, a number of end unit townhouse sellers accept any offer they receive, and in 22314 in the City of Alexandria for a host of reasons.
By all means, homeowners are also known to reject offers because of a variety of reasons. Or make counteroffers. A counteroffer is probable if your offer is very low, or when there is more than one offer.
When you receive a counteroffer, it's your selection. You can accept, continue negotiations or move on to the next end unit townhouse.
When it's time to negotiate, as your real estate adviser, I'll be standing by so you can talk to me. I will be your trusted adviser to real estate negotiations in Northern Virginia, if you choose to dicker with the seller. By this I mean that I will use my experience and negotiating areas of focus as we craft a series of offers and counter-offers to help get you the ideal deal on the home you want. I've dedicated my professional talents to this.
When all this is happening, 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 conventions will vary depending upon the residence but in 22314 in Alexandria there are some conventions that we use repeatedly.
In Northern Virginia, here are fascinating rules every purchaser should know from the beginning of negotiations:
- Ask for Fewer Concessions
Home buyers have to cover many additional expenditures, such as closing costs for taxes, lender’s fees, and title company fees, at a mortgage settlement. The closing costs will vary depending on your location, but you can expect to pay between 3% and 4% of the home’s selling price. An additional 1% to 3% is paid by the seller. (Our website’s closing cost calculator can help you get a rough idea of what you can expect to pay in closing costs.
When you make your initial offer, you have the option to ask the seller for concessions, which may include cash to help offset the closing costs. However, asking for concessions may not be a feasible option if there have been multiple offers on the house.
If the seller accepts your concessions, the net proceeds from the sale will be lower. Making a counteroffer that removes the concessions you may have otherwise received puts cash back in the seller’s pocket and can improve your bid.
Increase Your Earnest Money Deposit
Your earnest money deposit, or EMD, is the amount of money you put up front to prove to the seller you are serious about buying the house. Increasing your EMD shows the seller that you’re more serious about the sale. The EMD is usually 1% to 3% of the sales price of the home. If you offer 3% to 4%, the seller may be more likely to side with you.
Demonstrate Patience About Taking Possession
Depending on the seller’s timetable, changing your proposed possession date — the date you take over the property — could butter them up, too. If the seller wants to stay in the home for a few days after closing, try offering a later possession date. You could also draw up a “rent-back” agreement, meaning the seller pays you rent for staying in the home for a set period of time after the closing date.
Are you interested in a 3-bedroom dwelling like 801 Wolfe St?
3 beds, 2 full, 1 part baths
Home size: 1708
Added: 12/03/19, Last Updated: 12/05/2019
Property Type: End Unit Townhouse for Sale
MLS Number: VAAX241830
Subdivision: Burges Square
List Price: 1019500.00
Properties in The City of Alexandria $969,500 to $1,069,500
Find out why our clients love us. Call (703)765-0300.