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Increase Your Earnest Money Deposit
Increasing your earnest money deposit (EMD), which is the amount of money you put down to show you’re interested in the house, is another way to show the seller you are serious about the offer. The EMD is usually 1% to 3% of the sales price of the home. Offering 3% to 4% may be what will persuade the seller to accept your offer. - 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.
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Know When to Walk
When negotiating with a seller, trust your gut — and your agent. If he or she says a deal is bad for you: Listen. And if you don’t want to make any more trade-offs — and the seller won’t budge — it’s smart to walk. That can be a tough decision to make, and rightfully so! Negotiating is tough. It’s draining. And losing something you’ve worked hard to get can be disappointing. But don’t worry. There’s a better deal for you out there. And after those strong feelings of frustration pass, you’ll realize: Now I know how to do this.
4 beds, 3 full baths
Home size: 2,522 sq.ft.
Lot Size: 15,346 sq.ft.
Added: 07/16/18, Last Updated: 07/16/2018
Property Type: Residential Detached for Sale
MLS Number: FX10287099
Subdivision: Ashwood
Properties in 22032 $693,499 to $766,498
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