For some people, here's the desire: the offer is accepted, forget about negotiating, and and you can instead focus on what you're going to do with your new home.
And, sometimes it does happen. Naturally, various sellers accept the first offer they receive, and in Fairfax because of rationale known only to them.
Conversely, other sellers are also known to reject offers because of a variety of reasons. Or make counteroffers. A counteroffer is very certain if your offer is very low, or when the property or area is highly sought after.
If the seller counters, it's now the home buyer's turn to either accept, continue negotiations or move on to the next home in 22033 in Fairfax County.
In cases such as these, as your attentive agent, I want you to contact me. I will be your personal ace to real estate negotiations in Fairfax County, when you think it's your home, then I'l help you to negotiate with the seller. By this I mean that I will use my experience and negotiating levels of patience as we craft a series of offers and counter-offers to help get you the best choice of deal on the home of your dreams. This is what I do every day.
But, you’re not just going to sit there. I’ll help you understand the negotiating practices we will deploy. Those tactics will vary depending upon the other but in Fairfax, Virginia here are some basics we usually implement.
In 22033 in Fairfax County, let's dream about 3 practices every buyer should see before negotiations initiate:
- Pick up the Cost of the Home Warranty Yourself
A home warranty is sometimes offered by a seller. A home warranty covers the repair of larger home appliances, such as the air conditioner or hot water heater, if they malfunction within a certain time period – usually a year – after purchasing the home. According to Angie’s List, a home warranty can cost $300 to $600, which is minimal in comparison to the cost of repairing one of these larger appliances.
If waiving the home warranty seems to make negotiations easier, offer to pay for it yourself so that the seller does not have to cover the cost. You should know, however, that regardless of who purchases 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.
To clarify, a home warranty is different and separate from homeowners insurance. Homeowners insurance covers your home’s structure and possessions in case of a fire, storm, flood, or other accident; and it is required if you take out a mortgage to buy your home. This insurance usually costs between $300 to $1,000 per year, which is a small price to pay for peace of mind.
Demonstrate Patience About Taking Possession
Patience and flexibility are important when it comes to buying a home. If the seller is not ready to leave the house after closing, you might need to be patient and push back the proposed possession date. Another option is to draw up a “rent-back” agreement, which would require the seller to pay you rent for the period of time that they remain in the house after closing.
- Ask for Fewer Concessions
Buying a house entails paying for more than just the asking price of the house. Home buyers have to pay closing costs for taxes, lender’s fees, and title company fees at a mortgage settlement. Depending on your location, the closing costs will vary. You will likely end up paying between 3% and 4% of the home’s sales price. The seller pays an additional 1% to 3%. You can use the closing cost calculator on our website to help you get a rough estimate of what your closing costs might be.
When you make your initial offer, you have the opportunity to ask the seller for concessions – usually a cash settlement paid to offset your share of the closing costs. Asking for concessions can work to your advantage as long as you aren’t going up against multiple offers.
Making concessions lowers the seller’s net proceeds, and you may receive a counteroffer that removes your requested concessions. In this case, cash goes back in the seller’s pocket, but this can also improve your bid.
Are you interested in a 3-bedroom other like 12369 Azure Ln in 22033 in Fairfax County? Talk to me.
3 beds, 2 full, 1 part baths
Home size: 2618
Added: 12/08/20, Last Updated: 12/08/2020
Property Type: Other for Sale
MLS Number: VAFX1171620
Subdivision: Pender Oaks
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How can we help achieve your real estate goals? Speak to an agent today to find out how.