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.
- Responding within 24 hours of a counteroffer is important because waiting leaves time for another buyer to swoop in and potentially buy the property out from under you. Also, a seller may decide to withdraw their counteroffer if they sense hesitation.
- Walking away may be the Best Choice Negotiations can be physically and emotionally draining and very time consuming. When you’re negotiating with a seller, make sure you listen to your agent – and to your gut. If either is telling you that it’s a bad deal, walking away may be the best choice. If you feel like you can’t make any more trade-offs and the seller won’t budge, don’t give in any more than you are comfortable with. Walking away can be a tough decision to make, especially after all the hard work you’ve put in, but you should know that there is a better deal out there waiting for you. And once your frustration passes, you’ll know that you have more experience in this and next time you negotiate, it will be easier for you.
4 beds, 2 full, 1 part baths
Home size: 1,690 sqft
Added: 05/21/21, Last Updated: 05/23/2021
Property Type: Detached Home for Sale
MLS Number: VAFX1200190
Subdivision: Yacht Haven Estates<!--
List Price: 749500.00-->