Oftentimes, this is the desire: your offer is for real estate perfect, cut out the dickering, and and you can ponder your choices with your new dwelling.
And, every so often , it crop ups sort of like that. Surely, a few owners accept any offer presented, and in Alexandria, Virginia because of a variety of reasons.
On the other hand, townhouse sellers are also known to reject offers for a host of reasons. Or make counteroffers. A counteroffer is possible if you make a very low offer, or when you’re up against multiple competing offers.
When you receive a counteroffer, it’s your option. You can accept, continue negotiations or move on to the next townhouse.
When negotiates are underway, as your real estate agent, I want you to reach out to me. I will be your spirit guide to real estate negotiations like 2929 Sycamore St in the City of Alexandria, if you want to bargain with the seller. By this I mean that I will use my experience and negotiating skills as we craft a series of offers and counter-offers to help get you the great deal on the home you actually want. This is what I have done for my clients and I will do for you.
When negotiations are on-going, 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 tips will vary depending upon the abode but in Alexandria, Virginia here are some basics we often implement.
In 22305, there are rules of thumb every home buyer should know before negotiations start:
- Be Flexible with your Contingencies, but with CareIf you want to boost the appeal of your counteroffer, reduce the number of contingencies you’re asking for. This reassures the seller that the deal will likely close because it puts you in a position that makes it difficult for you to back out.Reducing contingencies is a great way to make your offer appealing, but you need to exercise caution when doing so. A home inspection is important because any major problems will be uncovered and you will be able to either request repairs or back out easily if you aren’t happy with the outcome. This also protects you from buying a money pit.
It may make the offer look more appealing if you waive a termite inspection, especially if you live in a state with a lower risk.
If you are considering waiving some contingencies, you’ll have to check with your loan program requirements. Other factors that come into play are your market, your risk tolerance, and the circumstances of the house in question. Keep in mind that the seller won’t be responsible for fixing any problems if you decide to waive any of the corresponding contingencies.
- Pay for the Home Warranty YourselfSellers will occasionally offer a prospective buyer a home warranty. This is a plan that, according to Angie’s List, costs around $300 to $600 and covers the repair of larger home appliances, such as the air conditioner and hot water heater, if they malfunction within a certain time period after purchasing the home. Usually the time period is one year. If you want the home warranty but feel that buying it yourself would ease negotiations, tell the seller they don’t need to cover it – then buy it yourself. Regardless of who buys the warranty, you will be responsible for paying the service fee, usually between $50 and $100, if something needs to be repaired while under warranty.
You must remember that a home warranty is separate and different from homeowners insurance. Homeowners insurance covers your home’s structure and possessions in case of a fire, storm, flood, or other accident. If you take out a mortgage, homeowners insurance is required, and it can costs around $300 to $1,000 each year.
Raise Your Price (But be Reasonable)
While you don’t want to overpay for a house, you may have to offer more money, especially if your first offer was a lowball offer. Listen to your agent’s advice about how much to increase your offer by to make it more enticing to the seller.
As your realtor, I will be able to make your counteroffer look even more appealing by bringing attention to the prices of other homes in the area of similar size and with similar features.
Although the situation may seem to be escalating quickly and will get stressful, you need to make sure you don’t make any impulsive decisions. In order to make sure you don’t go overboard, we will keep a few things in mind:
- No matter what, you won’t be able to exceed the amount your mortgage company pre-approved you for.
- You should not overextend your budget.
- You want to keep your counteroffer reasonable so that you can enjoy your new home but also keep living your life. Besides, you aren’t out of options yet.
Are you interested in a intriguing property in 22305 in Alexandria like 2929 Sycamore St? I can help. Phone me.
2 beds, 1 full, 1 part baths
Home size: 1102
Added: 09/26/19, Last Updated: 09/26/2019
Property Type: Townhouse for Sale
MLS Number: VAAX240246
Subdivision: Warwick Village
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