3 Hints For Home Buyers Negotiating A Purchase In 22204

Photo of 1830 Columbia Pike #302

For most property hunters, here's the idea: the seller signs off on your offer, there is no negotiation to handle, and and you can ponder your options with your new unit.

Will Nesbitt
Will Nesbitt

And, sometimes, it happens. Without a doubt, several real estate sellers accept any offer they get, and in Arlington in consideration of various rationale.

Conversely, home sellers are also known to reject offers because of rationale known only to them. Or make counteroffers. A counteroffer is especially possible if your offer is very low, or when the property is in great demand.

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

When negotiates are underway, as your knowledgeable agent, please contact me. I will be your spirit guide to real estate negotiations in Arlington County, if you want to bargain 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 of your dreams. It's what I do.

But, you'll be a big part of the negotiation. I’ll help you understand the negotiating rules of thumb we will deploy. Those rules of thumb will vary depending upon the unit but in 22204 there are some tried and true practices we deploy time and again.

In Arlington, here are enticing tactics every buyer client should know when negotiations start:

  1. Know When to Walk

    When negotiating with a seller, trust your gut — and your agent. If he or she says a deal is bad for you: Listen.

    And if you don’t want to make any more trade-offs — and the seller won’t budge — it’s smart to walk. That can be a tough decision to make, and rightfully so! Negotiating is tough. It’s draining.

    And losing something you’ve worked hard to get can be disappointing. But don’t worry. There’s a better deal for you out there. And after those strong feelings of frustration pass, you’ll realize: Now I know how to do this.

  2. Demonstrate Patience About Taking Possession

    Buying a home requires patience and flexibility in all areas of the process. After closing, you may need to be patient about the possession date. If the seller needs to remain in the house for a period of time after closing, you have some options. You could push back the proposed possession date or you could draw up a “rent-back” agreement. This agreement means 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

    Increasing your earnest money deposit (EMD) — the sum of money you put down to prove to the seller you’re serious (i.e., “earnest”) about buying the house — is another way to show the seller you have more skin in the game. A standard EMD is typically 1% to 3% of the sales price of the home. Making a counteroffer with a 3% to 4% deposit could be what you need to persuade the seller to side with you.

Photo of 1830 Columbia Pike #302

Are you interested in a interesting home in Arlington like 1830 Columbia Pike #302? Get in touch with me. 

2 beds, 1 full baths

Home size: 1020

Added: 09/06/20, Last Updated: 09/12/2020

Property Type: Unit for Sale

MLS Number: VAAR167744

Subdivision: Lancaster

Contact us to get a free no obligation list of similar properties or to be notified when properties become available with your criteria.

We have experience working Northern Virginia and can save you thousands on your purchase.

 

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.