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: 

OPTIONS: 

1. EMD (Earnest Money Deposit):  5-10% (cashed within 2 business days)

2. DOWN PAYMENT: 20-50%

3. Closing Costs: Probably not- if needed ADD ON TOP (increase the sales price)

4. Home Inspection Options (4 Types): 

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)

5. LAP: 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. 

6. Settlement Date: Stipulate seller can select within 7 days of ratification. Give them a range of 30-60 days to choose. 

*If property is vacant consider a 14 day close. Many sellers will take an offer with a faster settlement date.

7. RentBack: no charge on the RENT (mortgage is paid in arrears). Seller remains for FREE

8. Grantor’s Tax: pay it for them ($2.00 per thousand) in Virginia. In DC pay a portion of the seller recordation fee. 

9. Congestion Relief: pay it for them ($1.50 per thousand) in Virginia. 

10. Home Warranty- seller or buyer pay

11. Escalation Addendum:  Review numbers and market data provided by your NG Realtor

Under 500k (Increment: 2,100)

500k plus (Increment: 3,800)

CAP:

ODD always… not a typical amount: instead of 710 cap at 711k

12. Personal Letter- we recommend writing a personal letter. Sample Purchaser Cover Letter

 

If you are contingent have the FULL CONTRACT and NO CONTINGENCIES remaining for an ideal offer…

 


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