Act Quickly!By acting quickly when you receive a counteroffer, you will ensure that there is no other prospective buyer coming along with an offer and snapping up your desired property. That is why it is important to respond to a counteroffer within 24 hours. It is also best if you do not hesitate because if the seller finds that you are hesitating, he/she may rescind the counteroffer even if you have not already responded.
- Walking away may be the Best ChoiceNegotiations 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.
- Don’t ask for so many ConcessionsWhen buying a home, the buyer has to cover many costs besides just the cost of the home or mortgage. These include paying closing costs for taxes, lender’s fees, and title company fees. Although closing costs will vary by location, you can expect to pay between 1% and 3% of the home’s selling price. The seller will pay an additional 1% to 3%. Using our site’s closing cost calculator can help you get an estimate of what you can expect your closing costs to be.When you make an offer on a home, you can ask the seller for concessions, which may include a settlement paid in cash to help cover some of your share of the closing costs. Asking for concessions can’t hurt, but it may not be feasible if you’re up against several offers. If the seller gives you concessions, their net proceeds will ultimately be lower. The seller may make a counteroffer that removes the requested concessions, but this will put money back in the seller’s pocket and can improve your bid.
2 beds, 1 full baths Home size: 852 Added: 09/05/19, Last Updated: 09/24/2019 Property Type: Unit for Sale MLS Number: VAFX1087276 Subdivision: Huntington Walk
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