Real estate tips – Tip #4 Negotiating with the sellers

Posted by on Feb 7, 2014 in Reston Real Estate Report

Real estate tips – Tip #4 Negotiating with the sellers

One of the first questions many prospective buyers ask us when they find the perfect house is “will they take less?” The agent can’t tell you what the sellers will take, and the only way to test their bottom line is to make an offer.  If you can negotiate a lower price or better terms than the original offering, you may possibly save yourself some money, but could risk losing a home you really love in the process.

If your offer is below the sellers’ bottom line, they will probably make you a counter offer.  If your bid is too low, you run the risk of offending them.   Your offer may not be taken seriously  — especially if it is far below market value.

Another risk is that while you and the sellers are trading offers and counter offers, another buyer may come in with a more attractive bid.  If this happens before your negotiations are concluded, your sellers may accept the competing offer.  Before you decide what kind of offer to make, weigh the benefits and risks of going in with a lower price than what the sellers are asking.

If you are thinking of buying or selling a home, call me, Jon Querolo, at Long and Foster Realtors at 703-585-4900

Related Reston Real Estate Articles