It can be tough trying to decide where to live in DC – what with all those posh neighborhoods plus the coming Holidays; the city shall once again be covered in busy Yuletide cheer. If you think you're too late to grab a nice deal on a Georgian real estate in time for snow, experts actually advice to keep hopes (and offers) high as Fall tends to be a busy season for home-buying.
Even with the freezing temperatures in the horizon, this can be the best time to make an offer on that dream home in Washington. Since this is also quite a hectic period for sellers and agents alike, buyers might find themselves in multiple offer situations or in an endless home-shopping loop. Avoid these real estate nightmares by knowing how to effectively negotiate. Here are some useful tips to be ahead of the competition:
A Face Behind the Sale
Sellers are humans too. Try and see this side of them when making an offer. Selling a home can be tough; and the reasons always very for everyone. Since it was a huge investment for the owner before (and will be your investment soon if all goes well), ensure that your offer is reasonable and can beat other buyers.
During the staging process, get to know the seller and their situation: what might be the reasons behind the incredibly low price? Are they moving because of mortgage problems? Or because of personal grounds? Having answers to these questions is important because such things actually affect how a home is priced (example: sellers who have other houses for sale might be more willing to negotiate since they have other assets). Avoid low-balling – be fair to the person since you might be a seller too in the future.
A Positive Offer
The prospect of living in Washington DC can be pretty exciting – and this leads most first-time buyers to either: contact a seller immediately; or forget to clarify the details. That's why it's highly recommended to get a real estate agent. Not only are they going to be guiding you throughout the entire house-hunt process, but they are indispensable during legal matters.
Put their services to good use by asking lots of questions and verifying the details regarding your house of choice. Ensure that other items such as appliances or furniture you fancy will be included in the contract. Keep the tone professional and avoid contacting the seller directly. That's because the seller has an agent as well and any legal misunderstandings are best discussed between brokers.
Keep Calm and Carry On
Since it is the heat of the real estate season, nerves will be wracked and emotions will sway. Keep your cool and trust in your realtor, too. DC living can be within your grasp if you learn to not let feelings get in the way of a great deal. Stay within the rules of the contract, compromise for what's right, and talk openly with your real estate agent.