For people, this is the idea: there are no negotiations, there is no negotiation to handle, and and you can ponder your choices with your new home.
And, sometimes it does develop. We know that, several home sellers accept any offer put before them, and in Alexandria because of rationale known only to them.
But, homeowners are also known to reject offers for various rationale. Or make counteroffers. A counteroffer is more possible if you make a very low offer, or when the property or area is highly sought after.
If you do receive a counteroffer, it’s up to you to decide whether you want to accept the new contract, negotiate the terms, or walk away.
In cases such as these, as your real estate adviser, please email me. I will be your guide to real estate negotiations like 525 N Fayette St #119 in Alexandria, Virginia, 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 talents as we craft a series of offers and counter-offers to help get you the best choice of deal on the home of your dreams. I have done this many times, and I can do it for you.
When negotiations are on-going, you’re not just going to sit there. I’ll help you understand the negotiating conventions we will deploy. Those rules will vary depending upon the home but in 22314 in the City of Alexandria there are some conventions that we use repeatedly.
In 22314, let's discuss interesting tactics every property seeker should know before negotiations begin:
Ask for Fewer Concessions
At a mortgage settlement, home buyers have to pay closing costs for taxes, lender’s fees, and title company fees. Closing costs vary by location, but you can expect to shell out between 3% and 4% of the home’s sales price. The seller pays an additional 1% to 3%. (Our site has a closing cost calculator you can use to get a rough idea of what your closing costs might be.)
When making an initial offer, you have the option to ask the seller for concessions — a settlement paid in cash to help you offset your share of the closing costs. (This move is less feasible if you’re going up against multiple offers.)
Concessions effectively lower the seller’s net proceeds from the sale. Making a counteroffer that removes the concessions you would have otherwise received at settlement puts cash back in the seller’s pocket — and can improve your bid.
- Know When to Walk Away
It’s important for you to trust your gut – and your agent – when negotiating with a seller. If your agent says a deal is bad for you, be sure to listen.
If you’re negotiating and don’t want to make any more trade-offs, walking away would be the best option. Although it’s a tough decision to make, especially since negotiating is tough and exhausting, you need to know that a better deal is out there for you. And after walking away from a sour deal, you’ll know that next time you will have a more informed experience.
Raise Your Price (Within Reason)
While you obviously don’t want to overpay for a house, you may have to up the ante — especially if you initially made a lowball offer. Lean on your agent’s expertise to determine how much money you should add to the sales price to make it more enticing to the seller.
Then, through their powers of persuasion, I can make the counteroffer look even more attractive by pointing out similarly priced “comps” — recently sold homes in your area that are comparable in terms of square footage and features.
As I negotiate, it can feel like things are escalating quickly. It’s stressful. You may feel a sudden urge to do whatever it takes to win.
Before you go overboard, there are we will keep in mind:
- You can’t exceed the monetary confines of the pre-approved mortgage you received from your lender.
- You shouldn’t overextend your budget.
- Because your counteroffer has to be an amount you’re comfortable spending on a home. You want that new house and to keep living your life. Plus: You’re not out of options yet.
Are you interested in a interesting unit in Alexandria? I can help.
2 beds, 2 full baths
Home size: 1076
Added: 02/10/21, Last Updated: 02/17/2021
Property Type: Unit for Sale
MLS Number: VAAX255482
Subdivision: The Monarch
List Price: 585000.00
Properties in The City of Alexandria