Are you wondering what you can do to get an offer accepted in today’s competitive market in Fairfax County and Northern Virginia?
Here are a few recommendations:
First, work with an experienced lender.
A lot of deals fall through due to problems with financing, so it’s really important that you have a good lender on your team. A good lender can make or break the transaction. If you need a recommendation, get in touch with me today.
Second, write reasonable offers that Fairfax County sellers will take seriously.
A lot of sellers won’t even look at low ball offers, especially in today’s market when most homes are selling at full list price. So, if you’re serious about getting your offer accepted, be prepared to write an offer close to the full market value.
Third, your earnest money deposit should be at least 1 percent of the purchase offer amount.
A larger deposit is more appealing to the seller because it shows them you’re serious about making the deal happen.
Fourth, understand that closing costs are a buyer’s cost.
Sometimes sellers will contribute to closing costs, but the more you ask for from the seller then the less appealing your offer will be. Keep in mind, the seller is already paying BOTH sides of the commission, and taxes are typically prorated between the buyer and the seller.
Fifth, be ready to take action.
Homes move quickly in the current Fairfax County and Northern Virginia housing market, so it’s important to be decisive. The last thing you want to happen is to lose the home of your dreams because you waited too long to write your offer. A desirable and well-priced home in today’s market could receive multiple offers during the first couple of days on market. Be ready to submit yours!
If you’ve got any questions about buying a home in Fairfax County or Northern Virginia, don’t hesitate to get in touch.
Contact me today, and together we can figure out a home buying strategy that works for YOU.