- Just walk awayAfter lengthy negotiations, nobody wants to just walk away. But it’s important to keep in mind that your seller – and your gut – know what’s best for you when it comes to negotiating. If you have already made trade-offs and don’t want to make any more, and the seller won’t budge, you would be best to just walk away. Walking away from the negotiations that you’ve worked so long and hard on can be very difficult, but your agent can help you understand that there is a better deal out there. If your gut is telling you not to settle – just walk away. After your feelings of frustration pass, you’ll realize that you know how to negotiate and how to take control of the process, whether it means walking away from the next one also, or accepting the offer.
- Pick up the Cost of the Home Warranty YourselfA home warranty is sometimes offered by a seller. A home warranty covers the repair of larger home appliances, such as the air conditioner or hot water heater, if they malfunction within a certain time period – usually a year – after purchasing the home. According to Angie’s List, a home warranty can cost $300 to $600, which is minimal in comparison to the cost of repairing one of these larger appliances. If waiving the home warranty seems to make negotiations easier, offer to pay for it yourself so that the seller does not have to cover the cost. You should know, however, that regardless of who purchases 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. To clarify, a home warranty is different and separate from homeowners insurance. Homeowners insurance covers your home’s structure and possessions in case of a fire, storm, flood, or other accident; and it is required if you take out a mortgage to buy your home. This insurance usually costs between $300 to $1,000 per year, which is a small price to pay for peace of mind.
- Let some of your Contingencies go – With CareIf you want to give your counteroffer an even bigger boost, try reducing the number of contingencies you are asking for. This lets the seller know that you are willing to put yourself in a position in which you have fewer ways to back out. Being in that position reassures the seller that the deal will close. When you choose to reduce your contingencies, make sure you only give up the ones that are safe for you to give up. A home-inspection contingency is having someone inspect your home so that you can request repairs. This gives you an out if you find any major problems, and it protects you from buying a total money pit. A termite inspection, on the other hand, might be waived if you live in a state where the risk is lower. Waiving contingencies will ultimately depend on some other factors, such as your market, your loan program requirements, your risk tolerance, and the circumstances of the house in question. But remember that if you waive contingencies and then you find a problem, the seller isn’t responsible for fixing it.
3 beds, 2 full, 2 part baths
Home size: 1,360 sq.ft.
Lot Size: 1,500 sq.ft.
Added: 08/01/18, Last Updated: 08/01/2018
Property Type: Residential Townhouse for Sale
MLS Number: FX10304398
Subdivision: Loftridge
Properties in 22310 $426,550 to $471,450
See more in 22310 $426,550 to $471,450
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