Conventions For Your Counteroffer

For people, here’s the plan: your offer is for real estate perfect, cut out the bickering,  and rather you can turn your attention to your and you can ponder your property.

And, sometimes it does develop. Without a doubt, some garage/parking space sellers accept the first offer they gaze upon, and in 22314 in consideration of various rationale.

On the other hand, home sellers are also known to reject offers because of a variety of reasons. Or make counteroffers. A counteroffer is more probable if your offer is very low, or when you’re up against multiple competing offers.

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.

When this happens, as your tech-savvy agent, I’ll be standing by so you can get in touch with me. I will be your guide to real estate negotiations like 1111 Oronoco St #130 in Alexandria, Virginia if you want to negotiate with the seller. By this, I mean that I will use my experience and negotiating expertise as we craft a series of offers and counter-offers to help get you the right deal on the home you want. This is what I do each and every day.

When negotiations are on-going, it won’t be all me though. I’ll help you understand the negotiating basics we will deploy. Those rules of thumb will vary depending upon the garage/parking space but in 22314 in Alexandria here are some basics we come back to time and time again.

In Alexandria, let’s examine several tactics every buyer should know when negotiations initiate:

1.  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.

2. Raise Your Price (But not too Much)

   If you started out with a really low offer, you may need to increase the amount of your offer – but not too much because you don’t want to overpay. Your agent will be able to give you some tips on how to increase your offer to make it more enticing to the seller.

   Using “comps” –  homes in your area that have recently sold and are similar in terms of square footage and features – I will be able to persuade the seller to see the appeal of your offer.

   As I negotiate, the situation may become stressful and may feel like it’s escalating quickly. You might even feel the urge to do whatever it takes to win. I’m here to help you keep some things in mind so that you don’t go overboard.

   • Your lender has given you a pre-approved amount that you cannot exceed.
   • You must never overextend your budget.
   • You need to be comfortable with your purchasing amount because even though you buy a home, you still want to be able to enjoy it. Besides, you need to remember that you’re not out of options yet!
3. Listen to your Gut – and your AgentWhen 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 21st-century home like 1111 Oronoco St #130? I can guide. 

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