For a few buyers, this is the goal: the seller signs off on your offer, you don’t need to dicker, and and you can spend the next few weeks addressing more pressing home-ownership questions, like “Do I want a new couch in blush or emerald green?” and “Should I paint the bathroom ceiling?”
And, sometimes it does happen. Naturally, curated sellers accept any offer they receive, and in Alexandria, Virginia because of a variety of reasons.
Of course, home sellers are also known to reject offers for several reasons. Or make counteroffers. A counteroffer is very probable if you bid low, or when the property is in great demand.
When the shopper receives a counter-offer, it’s up to the property hunter to decide whether to accept the new contract, negotiate the terms, or walk away.
When negotiates are underway, as your agent, I'll encourage you to email me. I will be your personal ace to real estate negotiations in 22314 in the City of Alexandria, if you want to dicker with the seller. By this I mean that I will use my experience and negotiating experiences as we craft a series of offers and counter-offers to help get you the most compatible deal on the home you actually want. This is what I do every day.
During negotions, it won't be all me though. I’ll help you understand the negotiating tactics we will deploy. Those rules of thumb will vary depending upon the home but in Northern Virginia there are some tried and true practices we deploy time and again.
In 22314, there are attractive practices every home hunter should see when negotiations initiate:
- When you receive a counteroffer, it is important to respond within 24 hours because the longer you wait, the more time you leave for another buyer to make an offer. On top of that, if a seller senses that you are hesitant, they may withdraw their counteroffer before you have a chance to respond.
Increase Your Earnest Money Deposit
Increasing your earnest money deposit (EMD) — the sum of money you put down to prove to the seller you’re serious (i.e., “earnest”) about buying the house — is another way to show the seller you have more skin in the game. A standard EMD is typically 1% to 3% of the sales price of the home. Making a counteroffer with a 3% to 4% deposit could be what you need to persuade the seller to side with you.
- Listen to your Gut – and your Agent
When you are in the middle of negotiations with a seller and you get a bad feeling in the pit of your stomach – or you get advice from your agent – indicating that something is wrong, you should listen. Don’t be afraid to walk away from a deal, especially if your agent advises you to do so.
If you’ve already made negotiations, don’t want to make any more trades, and the seller won’t budge, sometimes walking away is the best decision to make. It won’t be easy because negotiating is hard and draining, But once those feelings of frustration pass, you’ll be better at negotiating and you’ll realize that you know how to do this.
Are you interested in a surprising home like 309 Holland Ln #116?
2 beds, 2 full baths
Home size: 1044
Added: 09/05/20, Last Updated: 11/19/2020
Property Type: Unit for Sale
MLS Number: VAAX250310
Subdivision: The Royalton
List Price: 565000.00
Properties in Alexandria
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