Oftentimes, here’s the plan: the seller accepts your offer as-is, cut out the dickering, and allowing you to focus on your upcoming home ownership.
And, from time to time, it come to passs kind of like that. We know that, a few sellers accept any offer they get, and in 22307 in Fairfax County in consideration of various rationale.
Naturally, real estate sellers are also known to reject offers for a host of reasons. Or make counteroffers. A counteroffer is certain if you bid low, or when the property or area is highly sought after.
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.
In cases like these, as your meticulous real estate professional, I’m there to help when you contact me. I will be your personal pro for real estate in Fairfax County like 6725 Wakefield Dr #C2, if you want to dicker with the seller. By this I mean that I will use my experience and negotiating prowess as we craft a series of offers and counter-offers to help get you the ideal deal on the home of your dreams. This is what I do every day.
During negotions, you’re not just going to sit there. I’ll help you understand the negotiating rules of thumb we will deploy. Those rules will vary depending upon the property but in 22307 in Fairfax County there are some conventions that we use repeatedly.
In Fairfax County, here are 3 basics every purchaser should know at the outset:
Raise Your Price (But not too Much)
Nobody wants to pay too much for a house, but to get the seller on your side, you may need to increase your offer, especially if you started out with a low offer. It’s going to be important to listen to your agent about how much to increase your offer by to make it more appealing to the seller.
As your realtor, I’ll be able to use my powers of persuasion to make your offer look more enticing by using similarly priced “comps” in the area. These are homes that have sold that are comparable in terms of size and features.
The situation will become stressful and may seem to escalate quickly. You might even feel like you need to do whatever it takes to win. Before you go too far, you’ll need to keep a few things in mind:
- Your lender has pre-approved you for an amount that you must not exceed.
- You have a budget, and you cannot exceed it.
- As badly as you want a house, you need to ensure that your counteroffer is an amount you are comfortable spending. Otherwise you’ll spend all your money on the house and not have any money left over to live your life. And keep in mind, you’re not out of options yet.
- Don’t ask for so many ConcessionsWhen buying a home, the buyer has to cover many costs besides just the cost of the home or mortgage. These include paying closing costs for taxes, lender’s fees, and title company fees. Although closing costs will vary by location, you can expect to pay between 1% and 3% of the home’s selling price. The seller will pay an additional 1% to 3%. Using our site’s closing cost calculator can help you get an estimate of what you can expect your closing costs to be.
When you make an offer on a home, you can ask the seller for concessions, which may include a settlement paid in cash to help cover some of your share of the closing costs. Asking for concessions can’t hurt, but it may not be feasible if you’re up against several offers.
If the seller gives you concessions, their net proceeds will ultimately be lower. The seller may make a counteroffer that removes the requested concessions, but this will put money back in the seller’s pocket and can improve your bid.
Increase Your Earnest Money Deposit
Your earnest money deposit, or EMD, is the amount of money you put up front to prove to the seller you are serious about buying the house. Increasing your EMD shows the seller that you’re more serious about the sale. The EMD is usually 1% to 3% of the sales price of the home. If you offer 3% to 4%, the seller may be more likely to side with you.
Are you interested in a intriguing garden-style condo in 22307 in Fairfax County? I can help.
2 beds, 1 full baths
Home size: 768 sq.ft.
Added: 07/24/18, Last Updated: 07/24/2018
Property Type: Residential Garden 1-4 Floors for Sale
MLS Number: FX10304768
Subdivision: Belle View
Properties in Alexandria $221,255 to $244,545
Do you like working with small family-businesses? Then you’ll love working with a Nesbitt Realty agent.