Oftentimes, this is the desire: the seller accepts your offer as-is, skip the haggling, and and you can spend the next few weeks addressing more pressing home-ownership questions, like “What color am I going to paint?” and “Where do I sign up for utilities?”
And, once in a while, it occurs. Indeed, curated real estate sellers accept any offer they get, and in Annandale for a host of reasons.
Conversely, sellers are also known to reject offers because of a variety of reasons. Or make counteroffers. A counteroffer is certain if your offer is very low, or when you’re up against multiple competing offers.
When you receive a counteroffer, it’s your option. You can accept, continue negotiations or move on to the next residence.
In cases such as these, as your real estate pro, I’m there to help when you get in touch with me. I will be your personal sage to real estate negotiations like 7320 Valleycrest Blvd, if you choose to bargain with the seller. By this I mean that I will use my experience and negotiating ability as we craft a series of offers and counter-offers to help get you the dream deal on the home you really want. I have done this many times, and I can do it for you.
When all this is happening, it won’t be all me though. I’ll help you understand the negotiating rules of thumb we will deploy. Those tactics will vary depending upon the abode but in 22003 in Fairfax County there are some tried and true practices we deploy time and again.
In 22003, let’s discuss tactics every buyer client should know at the outset:
Increase Your Earnest Money Deposit
Your earnest money deposit, or EMD, is the sum of money you put down to prove to the seller you are serious about buying the house. Putting down more money shows the seller that you’re more serious about the sale. The standard amount of the EMD is usually 1% to 3% of the home’s selling price. If you offer 3% to 4%, the seller may be more likely to side with you.
Pick Up the Cost of the Home Warranty
Sellers will sometimes offer prospective buyers a home warranty, which is a plan that covers the cost of repairing major home appliances and systems if they malfunction within a certain time period after closing, typically a year. The air conditioner and hot water heater are typically covered under this warranty.
According to Angie’s List, a basic home warranty costs anywhere from $300-$600 a year. If waiving the home warranty will make negotiations easier, you can always tell the seller they don’t need to pay for it. You can always buy it yourself. Regardless of who buys the home warranty, you’ll need to pay the service fee, which is generally between $50-$100, if something goes wrong while still under the warranty’s coverage period.
Just an FYI: A home warranty is completely different and separate from homeowners insurance, which covers the home’s structure and possessions in a fire, storm, flood, or other accident. Homeowners insurance is required if you take out a mortgage and can cost anywhere from $300-$1000 per year – a small price to pay for peace of mind.
- It is important on your part to respond within a 24-hour period when you receive a counteroffer. Why? Because if you wait too long, there may be another buyer who will make a better offer and you may lose out on this opportunity.Besides, if the seller senses any hesitancy, there may be a chance that the counteroffer will be withdrawn prior to you responding to the counteroffer.
Are you interested in a one-of-a-kind detached in 22003 in Annandale? I can help.
3 beds, 1 full baths
Home size: 910
Added: 08/05/19, Last Updated: 08/05/2019
Property Type: Detached for Sale
MLS Number: VAFX1081658
Subdivision: Broyhill Crest
Properties in 22003 $499,990 to $599,990
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