Demonstrate Patience About Taking PossessionPatience 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.
Raise Your Price (But not too Much)Nobody wants to pay too much for a house, but to get the seller on your side, you may need to increase your offer, especially if you started out with a low offer. It’s going to be important to listen to your agent about how much to increase your offer by to make it more appealing to the seller. As your realtor, I’ll be able to use my powers of persuasion to make your offer look more enticing by using similarly priced “comps” in the area. These are homes that have sold that are comparable in terms of size and features. The situation will become stressful and may seem to escalate quickly. You might even feel like you need to do whatever it takes to win. Before you go too far, you’ll need to keep a few things in mind:
- Your lender has pre-approved you for an amount that you must not exceed.
- You have a budget, and you cannot exceed it.
- As badly as you want a house, you need to ensure that your counteroffer is an amount you are comfortable spending. Otherwise you’ll spend all your money on the house and not have any money left over to live your life. And keep in mind, you’re not out of options yet.
- Ask for Fewer Concessions Home buyers have to cover many additional expenditures, such as closing costs for taxes, lender’s fees, and title company fees, at a mortgage settlement. The closing costs will vary depending on your location, but you can expect to pay between 3% and 4% of the home’s selling price. An additional 1% to 3% is paid by the seller. (Our website’s closing cost calculator can help you get a rough idea of what you can expect to pay in closing costs. When you make your initial offer, you have the option to ask the seller for concessions, which may include cash to help offset the closing costs. However, asking for concessions may not be a feasible option if there have been multiple offers on the house. If the seller accepts your concessions, the net proceeds from the sale will be lower. Making a counteroffer that removes the concessions you may have otherwise received puts cash back in the seller’s pocket and can improve your bid.
3 beds, 1 full, 1 part baths
Home size: 1200
Added: 12/11/20, Last Updated: 12/12/2020
Property Type: End Unit Townhouse for Sale
MLS Number: VAFX1172196
Subdivision: Pinewood South<!--
List Price: 369000.00-->
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