A Few Clues For Buyers Negotiating A Purchase Like 307 Yoakum Pkwy #218

For some people, this is the goal: the seller accepts your offer as-is, cut out the dickering, and and you can instead focus on what you're going to do with your new high-rise condo.

And, sometimes it does develop just like that. By all means, a couple of home sellers accept the first offer presented, and in 22304 in the City of Alexandria because of rationale known only to them. On the other hand, sellers are also known to reject offers for plenty of reasons. Or make counteroffers. A counteroffer is particularly possible if your offer contains conditions, or when there are multiple 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 it's time to negotiate, as your agent, please email me. I will be your guide to real estate negotiations in Northern Virginia, if you decide that it's best to haggle 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 most compatible deal on the home you actually want. This is what I have done for my clients and I will do for you. During negotions, you'll be an active participant in this process. I’ll help you understand the negotiating basics we will deploy. Those tactics will vary depending upon the home but in the City of Alexandria there are some basics we come back to time and time again. In 22304, there are conventions every buyer should know before negotiations commence:

1. Let Go of a Few Contingencies — With Care

   Want to give your counteroffer an even bigger boost? Reduce the number of contingencies you’re asking for. It’s your way of saying, “Hey, look, I have fewer ways to back out,” which gives the seller more reassurance that the deal will close. But be selective: Some contingencies are too important to give up. A home-inspection contingency — the right to have a home inspection and request repairs — gives you an out if you spot major problems with the home (and protects you from buying a total money pit). You might waive a termite inspection if you’re in a state where the risk is lower. But ultimately, waiving contingencies depends on your market, your loan program requirements, your risk tolerance, and the circumstances of the house in question. And if you waive contingencies and then you find a problem, the seller isn’t responsible for fixing it.

2. Act Fast — Like, Now

   When you receive a counteroffer, you should respond quickly — ideally within 24 hours. The longer you wait, the more space you leave for another buyer to swoop in and nab the property. Also? If a seller senses hesitation, they may decide to withdraw their counteroffer before you even have a chance to respond.

3. Pick Up the Cost of the Home Warranty

   Sometimes sellers offer prospective buyers a home warranty. This 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). A basic home warranty costs about $300 to $600 a year, according to Angie’s List. If it seems like waiving the home warranty can sweeten negotiations, but you still want the peace of mind of having one, 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.

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