For nearly all people, this is the most compatible situation: your offer is perfect, skip the haggling, and and you can instead focus on what you're going to do with your new place of residence.
And, every now and again, it happens sort of like that. Naturally, a few sellers accept the first offer presented, and in Alexandria because of rationale known only to them.
But, detached home sellers are also known to reject offers for several reasons. Or make counteroffers. A counteroffer is more possible if your offer is conditional, or when you’re up against multiple competing offers.
When you receive a counteroffer, it's your option. You can accept, continue negotiations or move on to the next property.
In cases like these, as your agent, I'll be standing by so you can reach out to me. I will be the local expert to real estate negotiations in 22309 in Alexandria like 9406 Old Mount Vernon Rd, if you decide you want to squabble with the seller. By this I mean that I will use my experience and negotiating ability as we craft a series of offers and counter-offers to help get you the most suitable deal on the home you actually want. This is what I do every day.
At the same time, it won't be all me though. I’ll help you understand the negotiating tactics we will deploy. Those rules will vary depending upon the detached home but in Fairfax County here are some basics we frequently implement.
In Fairfax County, I'll talk about basics every purchaser should know before negotiations open:
- Be Patient about Taking Possession
Adjusting your proposed possession date, which is the date you take over the property, could be more appealing to the seller, depending on their timeline. If the seller isn’t quite out of the house by closing time, you could propose a later possession date. A “rent-back” agreement would be another option. This means that if the seller remains in the house for a period of time after closing, they would pay you rent for that time period.
- Be Flexible with your Contingencies, but with Care
If you want to boost the appeal of your counteroffer, reduce the number of contingencies you’re asking for. This reassures the seller that the deal will likely close because it puts you in a position that makes it difficult for you to back out.
Reducing contingencies is a great way to make your offer appealing, but you need to exercise caution when doing so. A home inspection is important because any major problems will be uncovered and you will be able to either request repairs or back out easily if you aren’t happy with the outcome. This also protects you from buying a money pit.
It may make the offer look more appealing if you waive a termite inspection, especially if you live in a state with a lower risk.
If you are considering waiving some contingencies, you’ll have to check with your loan program requirements. Other factors that come into play are your market, 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.
Increase Your Earnest Money Deposit
Your earnest money deposit, or EMD, is the amount of money you put up front to prove to the seller you are serious about buying the house. Increasing your EMD shows the seller that you’re more serious about the sale. The EMD is usually 1% to 3% of the sales price of the home. If you offer 3% to 4%, the seller may be more likely to side with you.
Are you interested in a surprising detached home in 22309 in Fairfax County like 9406 Old Mount Vernon Rd? Email me.
7 beds, 5 full, 1 part baths
Home size: 3180
Added: 01/15/21, Last Updated: 01/15/2021
Property Type: Detached Home for Sale
MLS Number: VAFX1175686
Subdivision: Mount Vernon Grove
List Price: 998000.00
Properties in Alexandria
I’m a local expert on Northern Virginia real estate.