It can be a competitive market in Metro DC. If you find yourself competing against another buyer for the home you want please review the following options with your Nellis Group certified Realtor
Earnest Money Deposit: 5-10% (cashed within 2 business days)
Ranges anywhere from 20-50%
If needed ADD ON TOP (increase the sales price)
THE 4 TYPES OF HOME INSPECTION CONTINGENCY OPTIONS
- Home Inspection Pre-Offer: Conduct the inspection without knowing if you will be able to reserve the home. (HI is not a contingency to the offer)
- Home Inspection Standard: Right to void offer and negotiate repairs
- Home Inspection Void Only: Right to void offer
- Home Inspection Removed: We do not recommend this as an option unless you did a Pre-Offer Inspection. (This would mean you do not have a walk away)
- Standard Appraisal: Home has to appraise
- Appraisal Cap: You offer X amount over a low appraisal (typical is $10-20k over) to NOT exceed the ratified sales price.
- Guaranteed Price & Appraisal: You guarantee a price up to X and over that it has to appraise. For instance: 1.15M and over it would have to appraise.
- No Appraisal: People will do this, we typically do not recommend waiving the appraisal.
- Buyer Appraisal Package: How many offers, etc. upgrades, etc.
- Minimize the Days: Typical is 21 days. We recommend less than 14 days.
- Waive/Remove: If you are FULLY approved with a local lender and you have confidence in not losing your job prior to settlement, you have the freedom to waive this contingency.
If you need closing costs review if it can be covered by our approved bank for this unique program- ideal for FHA or VA loans.
Stipulate seller can select within 7 days of ratification. Give them a range of 30-60 days to choose.
No charge on the RENT (mortgage is paid in arrears). Seller remains for FREE!
Pay it for them ($2.00 per thousand) in Virginia. In DC pay a portion of the seller recordation fee.
Pay it for them ($1.50 per thousand) in Virginia
Seller or buyer pay
Review numbers and market data provided by your NG Realtor
- Under 500k (Increment: 2,100)
- 500k plus (Increment: 3,800)
- ODD always… not a typical amount: instead of 710 cap at 711k
YOUR PERSONAL TOUCH
PERSONAL LETTER: We recommend writing a personal letter. Sample Purchaser Cover Letter
**With Fair Housing Rules we recommend NOT including a picture of you/your family. You can include pets (dogs/cats etc) if you want along with the offer.
If you are contingent have the FULL CONTRACT and NO CONTINGENCIES remaining for an ideal offer…
*If you are competing with multiple offers it is unlikely that the Seller will accept an offer contingent on selling another home.