For some people, here's the idea: the seller signs off on your offer, there is no negotiation to handle, and and you can ponder your options with your new property.
And, every so often , it occurs. By all means, various property sellers accept any offer presented to them, and in Alexandria in consideration of various rationale.
But, sellers are also known to reject offers because of rationale known only to them. Or make counteroffers. A counteroffer is probable if your offer is conditional, or when there are multiple offers.
When you receive a counteroffer, it's your choice. You can accept, continue negotiations or move on to the next property in 22314 in Alexandria.
In cases like these, as your real estate adviser, please email me. I will be the local expert to real estate negotiations like 315 N Patrick St in Northern Virginia, when you think it's your home, then I'l help you to dicker with the seller. By this I mean that I will use my experience and negotiating prowess as we craft a series of offers and counter-offers to help get you the right deal on the home you really want. This is what I do every day.
As events unfold, you'll be right there with me. . I’ll help you understand the negotiating rules we will deploy. Those tactics will vary depending upon the place but in the City of Alexandria here are some basics we come back to time and time again.
In 22314 in Alexandria, I'll talk about rules of thumb every buyer should know at the outset:
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.
Increase Your Earnest Money Deposit
Your earnest money deposit, or EMD, is the amount of money you put down when buying a home. Increasing this amount of money shows the seller that you’re more serious about the sale. Offering 3% to 4% as an EMD instead of the typical 1% to 3% may be what it takes to persuade the seller to side with you.
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.
Are you interested in a one-of-a-kind detached home in Northern Virginia? I can benefit.
4 beds, 2 full baths
Home size: 1815
Added: 10/29/19, Last Updated: 12/20/2019
Property Type: Detached Home for Sale
MLS Number: VAAX241118
Subdivision: Old Town
List Price: 750000.00
Properties in The City of Alexandria $700,000 to $800,000
Did you know that Nesbitt Realty will match any offer by any Realtor in Northern Virginia?