Several Tantalyzing Tips For Your Counteroffer

Photo of 2727 Bowling Green Dr

Oftentimes, here's the plan: the offer is perfect, cut out the dickering, and and you can instead focus on what you're going to do with your new home.

Stuart Nesbitt, Aubrey Nesbitt, Andrew Patton, Ben Schulze Kim Nesbitt, Julie Nesbitt, Alain Clerinx, and Will Nesbitt
Nesbitt Team

And, once in a blue moon, it happens kind of like that. We know that, several property sellers accept any offer presented, and in Vienna, Virginia for various rationale.

On the other hand, real estate sellers are also known to reject offers for a host of reasons. Or make counteroffers. A counteroffer is likely when you make a lowball offer, or when the property is in great demand.

When you receive a counteroffer, it's your selection. You can accept, continue negotiations or move on to the next home.

When it's time to negotiate, as your Realtor, I'll be standing ready and I want you to contact me. I will be the local expert to real estate negotiations in 22180 in Fairfax County, if you choose to negotiate 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 most compatible deal on the home of your dreams. This is what I do every day.

When negotiations are on-going, you'll be right there with me. . I’ll help you understand the negotiating tips we will deploy. Those conventions will vary depending upon the detached home but in 22180 in Vienna here are some basics we come back to time and time again.

In Northern Virginia, I'll talk about enticing basics every home buyer should know before negotiations open:

  1. Be Flexible with your Contingencies, but with Care

    If 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.

  2. Demonstrate Patience About Taking Possession

    Depending on the seller’s timetable, you may need to be patient about your proposed possession date. Try offering a later possession date if the seller wants to stay in the home for a few days after closing, Another option would be to draw up a “rent-back” agreement, meaning 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.

  3. 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.

Will Nesbitt
Will Nesbitt

Are you interested in a mid 20th-century place in 22180 in Fairfax County? I can help you realize your dream. 

4 beds, 3 full baths

Home size: 1153

Added: 01/10/20, Last Updated: 01/10/2020

Property Type: Detached Home for Sale

MLS Number: VAFX1105490

Subdivision: Dunn Loring Woods

Properties in Fairfax County $654,980 to $754,980

I’d like to make the world a better place, one day at a time.

 

Will Nesbitt

View posts by Will Nesbitt
Will is the principal broker of Nesbitt Realty and Condo Alexandria. He is licensed in anywhere in the Commonwealth of Virginia, but focuses on those communities found in and around Alexandria, Arlington, Mount Vernon and Springfield/Franconia. Will has been involved in real estate management, sales and investment for more than twenty years. He is a veteran of the U.S. Army. While in the army, he studied Russian at Monterey's Defense Language Institute. He is also a "veteran of the dotcom wars" and built most of the sites associated with NesbittRealty.com Will currently resides in Belle Haven Estates just outside Old Town, overlooking New Alexandria. He is a former president of the Mount Vernon Youth Athletic Association and founded the Alexandria Fun with Friends Group. Will is the author of BattlestorM, a tabletop fantasy game, which was published by Ral Partha Publishing in the late '90's, and Arthur's Realm, a boardgame available at the Gamecrafter.