Words Of Advice For Negotiating A Interior Row/Townhouse Acquisition Like 6066 Old Landing Way #44 In 22015 In Fairfax County

Oftentimes, this is the great situation: the offer is accepted as-is, you don’t need to dicker, and and you can spend the next few weeks addressing more pressing home-ownership questions, like “Should I plant annuals or perennials?” and “Do I want a new couch in blush or emerald green?”

Photo of 6066 Old Landing Way #44

And, from time to time, it happens kind of like that. Surely, various sellers accept the first offer they receive, and in Burke because of rationale known only to them.

On the other hand, real estate sellers are also known to reject offers in consideration of various rationale. Or make counteroffers. A counteroffer is very possible if you bid low, or when there are multiple offers.

When the shopper receives a counter-offer, it’s up to the shopper to decide whether to accept the new contract, negotiate the terms, or walk away.

Photo of 6066 Old Landing Way #44

When it's time to negotiate, as your real estate adviser, please contact me. I will be the local expert to real estate negotiations like 6066 Old Landing Way #44 in 22015, if you choose to negotiate with the seller. By this I mean that I will use my experience and negotiating prowess as we craft a series of offers and counter-offers to help get you the most suitable deal on the home you really want. It's what I do.

When negotiations are on-going, I'll provide advice but you'll provide direction and make important decisions. I’ll help you understand the negotiating tactics we will deploy. Those ideas will vary depending upon the place of residence but in Burke there are some conventions that we use repeatedly.

In Burke, Virginia, let's mull over several rules every buyer client should know when negotiations start:

  1.  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.

  2. Let some of your Contingencies go – With Care

    Reducing the number of contingencies you are asking for will give your counteroffer a bigger boost because it’s your way of saying that you have fewer ways to back out of the offer. This  reassures the seller that the deal will close.

    There is nothing wrong with reducing contingencies, but be careful about the choices you make. A home-inspection contingency has someone come in and inspect your home so that you can request any needed repairs and gives you an easy out if there are any major problems with the home. This way you don’t end up buying a complete money pit.

    You might waive a termite inspection, on the other hand, if you’re in a location where termites aren’t a problem.

    Waiving contingencies may boost your offer or counteroffer, but other things that factor into the decision are your market, your loan program requirements, 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.

  3. Pay for the Home Warranty Yourself

    Sellers will occasionally offer a prospective buyer a home warranty. This is a plan that, according to Angie’s List, costs around $300 to $600 and covers the repair of larger home appliances, such as the air conditioner and hot water heater, if they malfunction within a certain time period after purchasing the home. Usually the time period is one year.

    If you want the home warranty but feel that buying it yourself would ease negotiations, tell the seller they don’t need to cover it – then buy it yourself. Regardless of who buys 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.

    You must remember that a home warranty is separate and different from homeowners insurance. Homeowners insurance covers your home’s structure and possessions in case of a fire, storm, flood, or other accident. If you take out a mortgage, homeowners insurance is required, and it can costs around $300 to $1,000 each year.

Photo of 6066 Old Landing Way #44

Are you interested in a $345,000 home like 6066 Old Landing Way #44? I can guide. 

3 beds, 2 full, 1 part baths

Home size: 1360

Added: 12/04/20, Last Updated: 12/06/2020

Property Type: Interior Row/Townhouse for Sale

MLS Number: VAFX1170820

Subdivision: Woodwalk

Properties in Burke

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Will Nesbitt

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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.