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The Once in a Lifetime Home...If You Find It, Don't Waste Time Haggling

By
Real Estate Agent with Long and Foster Real Estate VA License # 0225089470

The Once in a Lifetime Home...If You Find It, Don't Waste Time Haggling

The Northern Virginia real estate market moves faster than most real estate markets.  And while we do tend to see the majority of our buyers go for homes that are cookie cutter repeats in big subdivisions, we don't often see the buyer that wants a truly unique home.

A buyer in the market for a unique property knows it when they find it.  They can't stop thinking about it.  They have never seen anything like it.  And they probably never will see anything like it again.  The home is keeping them up at nights.  They desperately want the home.  Here's where it can go wrong:

They want to haggle over price. 

If you have found your once in a lifetime, can't live without it home, and your agent tells you the asking price is more than reasonable, don't waste time haggling.  You may think you are the only one interested in this truly unique property you've found, but I can assure you, you're not.  If you like it enough to want to it, chances are, someone else does.

Don't haggle over a relatively small dollar amount unless you truly can't afford the home otherwise.  Because while you are pounding your head against the wall waiting for the seller to understand and sympathize with your need for a lower monthly mortgage payment, there is another buyer who will throw a full price offer in their lap.  And then, by the time you have realized you need to come up to full price and pull the trigger, the seller will have already accepted that buyer who knew immediately what they had to do to win the home.  Go all in. 

Haggling over a home that you can find a very similar one to the next day you house hunt is one thing.  When you start haggling over a well priced once in a lifetime opportunity, well, be prepared to lose that home of your dreams.

Comments(9)

Peggy Hughes/pha logistix, inc.
pha logistix inc - San Francisco, CA
SF NYC LA

Chris Ann... don't people remember the adage.... if you snooze, you lose!?!

Feb 07, 2012 10:58 AM
Marti Steele Kilby, CRS
Steele Group Realty - La Mesa, CA
Broker/Owner, San Diego, CA

Hi Chris Ann.....if I only had a dollar for every time I've seen this happen!  People tend to forget that it's OK to admit that real estate, like anything else, is largely an emotional buy.  Geez! If you can afford it, love it, buy it!  Life's too short to have regrets becuase you saved $50 amonth!

Feb 07, 2012 11:54 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

In our area, there are very few cookie cutter houses - so what you say applies to almost every home on the market.

If someone is laying awake nights thinking about a house they love - it's time to get that offer in.

Feb 07, 2012 11:58 AM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Chris Ann, I only love this scenario when I am representing the seller.  Good advice.

Feb 07, 2012 01:08 PM
Steve Queen
Bennett Realty Solutions - Bowie, MD
Chosen Realtor for Bowie And Laurel

This is so true Chris! I have been getting multiple offers on most of my listings lately. The market is getting stronger here and if you snooze you will loose.

Feb 07, 2012 01:45 PM
Cathy McAlister
Cathy Ashley McAlister, GRI CDPE - Broker / Sacramento - Sacramento, CA
Sacramento DRE#00648507

Chris Ann,  Very timely advice.  We have had a change in the air in Sacramento.  Quality homes that are well priced will go into pending status quickly.  There seems to be much less time to dawdle.    Suggested.

Feb 07, 2012 03:13 PM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Peggy:  I think that should be my new real estate motto!  I'll print it up on polo shirts and wear them like a uniform.

Marti:  That's right!  I saw a comedy special over the weekend, Paul Mooney.  He made me laugh when he talked about money.  I believe his words were, "You can't take it with you.  You've never seen a Brinks truck following a hearse."

Marte: And not just getting any old offer in.  One the seller won't have to mull over.  A solid offer that says you are serious and not just dipping your toe in the water.

Pat:  Ditto.  It's far less emotionally traumatic.

Steve:  Seems the entire DC metro area is picking up the pace...and we had always been ahead of the national real estate doom and gloom. 

Cathy:  If you want it, get it.  And getting it doesn't mean lowballing it.

Feb 08, 2012 04:59 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Chris Ann I see so many buyers miss out on homes becuase of being stubborn and not listening. When a house is priced right it is not uncoomon for me to get 4-5 offers within a couple of days on my new listings. The days of low balling on home sin good condition is over.

Feb 09, 2012 02:55 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Scott:  Lowballing these days in our market is like throwing a hook with no bait in the water and expecting to pull out a fish. 

Feb 09, 2012 03:34 AM