Words Of Advice For Home Purchasers Negotiating A Purchase Like 3114 Cunningham Dr In Fairfax County

For most buyers, this is the desire: there are no negotiations, skip the haggling, and and you can instead focus on what you're going to do with your new home.

Photo of 3114 Cunningham Dr

And, here and there, it crop ups kind of like that. Indeed, curated homeowners accept the first offer they gaze upon, and in 22309 in Fairfax County for various rationale.

But, sellers are also known to reject offers because of rationale known only to them. Or make counteroffers. A counteroffer is more likely if your offer contains conditions, or when there is more than one offer.

If the seller counters, it's now the purchaser's turn to either accept, continue negotiations or move on to the next detached home in Alexandria.

Will Nesbitt
Will Nesbitt

In cases like these, as your indefatigable real estate agent, I want you to email me. I will be your trusted adviser for real estate like 3114 Cunningham Dr in Fairfax County, if you choose to squabble with the seller. By this I mean that I will use my experience and negotiating skills as we craft a series of offers and counter-offers to help get you the dream deal on the home you want. It's what I do.

When negotiations are on-going, you'll be a big part of the negotiation. I’ll help you understand the negotiating tips we will deploy. Those rules of thumb will vary depending upon the detached home but in 22309 in Fairfax County there are some basics we come back to time and time again.

In 22309 in Alexandria, I'll talk about several tips every buyer client should know from the outset:

  1. Don’t ask for so many Concessions

    When 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.

  2. Let Go of a Few Contingencies — With Care

    Want to give your counteroffer an even bigger boost?

    Reduce the number of contingencies you’re asking for. It’s your way of saying, “Hey, look, I have fewer ways to back out,” which gives the seller more reassurance that the deal will close.

    But be selective: Some contingencies are too important to give up. A home-inspection contingency — the right to have a home inspection and request repairs — gives you an out if you spot major problems with the home (and protects you from buying a total money pit).

    You might waive a termite inspection if you’re in a state where the risk is lower.

    But ultimately, waiving contingencies depends on your market, your loan program requirements, your risk tolerance, and the circumstances of the house in question. And if you waive contingencies and then you find a problem, the seller isn’t responsible for fixing it.

  3. Raise Your Price (Within Reason)

    Even though you don’t want to overpay for a house, you have to keep in mind that you may end up having to increase your offer, particularly if your first one was on the low end. Let your agent’s expertise guide you in helping you determine how much you should increase your offer by to make it more appealing to the seller.

    As your realtor, I’ll use similarly priced “comps” – homes in your area that have recently sold and are similar in terms of square footage and features – to persuade the seller to see the appeal of your offer.

    Negotiations may escalate quickly and be stressful for you, and you may feel like doing whatever you have to do to get your hands on that home, but you will have to keep several things in mind in order to keep yourself from going overboard:

    • No matter what, you can’t exceed the monetary confines of the amount for which you were pre-approved.
    • You should, under no circumstances, exceed your budget.
    • You don’t want to buy a home and then not be able to enjoy it, so you’ll want to make sure your counteroffer is an amount that you’re comfortable spending so that you still have money to spend on living.
    • Remember, you’re not out of options yet.

Photo of 3114 Cunningham Dr

Are you interested in a engaging detached home in 22309 in Alexandria? I can help. 

4 beds, 3 full baths

Home size: 1653

Added: 02/14/20, Last Updated: 02/14/2020

Property Type: Detached Home for Sale

MLS Number: VAFX1111218

Subdivision: Wessynton

Properties in 22309 $600,000 to $700,000

Will Nesbitt
Will Nesbitt

I care about my clients.

 

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.