Words Of Advice For Negotiating In Alexandria, Virginia

Oftentimes, here's the great situation: your offer is accepted, don't bother with negotiation, and instead you can spend your valuable time worrying about paint colors and moving companies.

And it may develop. Obviously, several home sellers accept the first offer they receive, and in 22309 in Alexandria for various rationale.

On the other hand, end unit townhouse sellers are also known to reject offers for a host of reasons. Or make counteroffers. A counteroffer is very probable if you make an offer with lots of conditions, or when there is more than one offer.

If you do receive a counteroffer, it’s up to you to decide whether you want to accept the new contract, negotiate the terms, or walk away.

In cases like these, as your tech savvy agent, I'll encourage you to email me. I will be your trusted adviser to real estate negotiations in 22309, if you choose to wrangle 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 right deal on the end unit townhouse you really want. I have the experience you need.

At the same time, you'll be right there with me. . I’ll help you understand the negotiating ideas we will deploy. Those practices will vary depending upon the home but in Fairfax County there are some basics we come back to time and time again.

In Northern Virginia, here are attractive conventions every buyer client should know from the outset:

1. 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.

2. 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.
3. 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.

Are you interested in a 3-bedroom 1-baths home in 22309 in Alexandria? I can help. Connect with me. 

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