- Ask for Fewer ConcessionsHome buyers have to cover many additional costs at a mortgage settlement, such as closing costs for taxes, lender’s fees, and title company fees. Depending on your location, the closing costs will vary, but you can expect to pay between 3% and 4% of the home’s selling price. The seller pays an additional 1% to 3%. (You can use the closing cost calculator on our site to get an estimate of what your closing costs might be.) You have the option to ask the seller for concessions when you make your initial offer. This may come in the form of a cash settlement to help you offset your share of the closing costs, but this may not be feasible if the seller has received multiple offers on the property. Requesting concessions will ultimately lower the seller’s net proceeds from the sale. The seller may make a counteroffer that removes the concessions, which ends up putting cash back in the seller’s pocket and can improve your bid.
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Demonstrate Patience About Taking Possession
Buying a home requires patience and flexibility in all areas of the process. After closing, you may need to be patient about the possession date. If the seller needs to remain in the house for a period of time after closing, you have some options. You could push back the proposed possession date or you could draw up a “rent-back” agreement. This agreement means that if the seller wants to stay in the home for a set period of time after the closing date, they would pay you rent for that time period. - Responding quickly to a counteroffer – ideally within 24 hours – is important because the longer you wait, the more time you leave for another buyer to make an offer. Also, a seller may withdraw their counteroffer before you can respond if they sense that you are hesitant.
3 beds, 1 full, 1 part baths
Lot Size: 1,442 sq.ft.
Added: 07/09/18, Last Updated: 07/09/2018
Property Type: Residential Townhouse for Sale
MLS Number: PW10285318
Subdivision: Dale City
Properties in 22193 $228,000 to $252,000
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If you want to work with a local, you should know that I was born in Fairfax. I raised my family in Fairfax County. I live in Alexandria VA and I love working in Northern VA.