Real Estate & Rental Information About Potomac Yard

A Few Clues For Negotiating Like In , Virginia

For a few buyers, here's the plan: your offer is accepted, forget about negotiating, and and you can ponder your selections with your new property.
Will Nesbitt
Will Nesbitt
And, every now and again, it come ups like that. Without a doubt, a few home sellers accept any offer they gaze upon, and in for an abundance of reasons. But, homeowners are also known to reject offers because of rationale known only to them. Or make counteroffers. A counteroffer is more certain if your offer is conditional or is a low-ball offer, or when you’re up against multiple competing offers. When you receive a counteroffer, it's your selection. You can accept, continue negotiations or move on to the next home in in . In cases such as these, as your real estate agent, I'll encourage you to contact me. I will be the local expert to real estate negotiations in , Virginia, if you choose to wrangle with the seller. By this I mean that I will use my experience and negotiating prowess as we craft a series of offers and counter-offers to help get you the great deal on your dream home. I have done this many times, and I can do it for you. When all this is happening, I'll provide advice but you'll provide direction and make important decisions. I’ll help you understand the negotiating tactics we will deploy. Those tactics will vary depending upon the property but in in County there are some tried and true practices we deploy time and again. In , Virginia, I'll talk about some basics every purchaser should see when negotiations begin:
  1. Be Flexible with your Contingencies One way to give your counteroffer an even bigger boost is to reduce the number of contingencies you’re asking for. If you do this, the seller know that you are willing to put yourself in a position in which you have fewer ways to back out, which reassures the seller that the deal will close. While reducing contingencies can be a good move, be cautious about the ones you pass on. An important contingency is  the home inspection, which is the right to have the home inspected and request repairs. This gives you an easy out if there are any major problems and protects you from buying a money pit. But a termite inspection, for example, might be waived if the home is in a low risk location. Waiving contingencies will also depend on your market, your loan program requirements, your risk tolerance, and the circumstances of the house in question. Additionally, remember that if you waive contingencies and then you find a problem, the seller isn’t responsible for fixing it.
  2. 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.
  3. Be Patient about Taking Possession of the Home Depending on the seller’s timeline, being patient about the proposed possession date may butter them up a little. If the seller wants to remain in the house for a period of time after closing, you can consider pushing back the possession date. You could also have the seller pay rent for the period of time they remain in the house after closing, which would be done by drawing up a “rent-back” agreement.
Are you interested in a one-of-a-kind in Northern Virginia? I can aid. 

beds, full baths

Added: //, Last Updated: 12/31/1969

Property Type: for Sale

MLS Number:

Subdivision:

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No one knows more about the local real estate market than Nesbitt Realty. I’m a local expert on Northern Virginia real estate.  

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