Clues For Your Counteroffer

Oftentimes, here's the hope: there are no negotiations, skip the haggling, and and you can spend the next few weeks addressing more pressing home-ownership questions, like “Do I put my oriental rug in the living room or the den?” and “Should I paint the bathroom ceiling?”   And, now and then, it comes to pass. Without a doubt, a number of property sellers accept any offer presented, and in Fairfax County for some reasons. Without a doubt, property sellers are also known to reject offers in consideration of various rationale. Or make counteroffers. A counteroffer is more probable if your offer contains conditions, or when you’re up against multiple competing offers. When the home buyer receives a counter-offer, it’s up to the property hunter to decide whether to accept the new contract, negotiate the terms, or walk away. In cases like these, as your agent, I'll be standing by so you can contact me. I will be your trusted adviser to real estate negotiations like 7381 Rodeo Ct, if you decide that it's best to squabble with the seller. By this I mean that I will use my experience and negotiating faculties as we craft a series of offers and counter-offers to help get you the right deal on your aspirational purchase. I've dedicated my professional talents to this. But, it won't be all me though. I’ll help you understand the negotiating practices we will deploy. Those tactics will vary depending upon the abode but in Northern Virginia there are some tried and true practices we deploy time and again. In 22003 in Annandale, let's take into account fascinating rules every home buyer should see before negotiations start:

1. 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.

2. Demonstrate Patience About Taking Possession

   Depending on the seller’s timetable, changing your proposed possession date — the date you take over the property — could butter them up, too. If the seller wants to stay in the home for a few days after closing, try offering a later possession date. You could also draw up a “rent-back” agreement, meaning the seller pays you rent for staying in the home for a set period of time after the closing date.

3. 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.

Are you interested in a intriguing house in Annandale like 7381 Rodeo Ct? I can help. 

Properties in Annandale $1,158,050 to $1,279,950

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