Rebecca Keeney, Realtor®

It would depend on the condition of the home, motivation of the Seller, time on market and if there are any price reductions and of course, the needs of my Buyer(s). Every transaction may be different. Of course, in any offer it is important to do the math as you have to ensure that the Seller net's what he needs to cover commission and his payoff with at least a moderate amount of equity. No Seller should have to take out a loan to sell their home.

Depending on the above factors, I might ask for Settlement expenses & Prepaids to be paid up to a cap of 3% or 3.5% depending on the good faith estimate provided by the Buyer's Lender and other calculations. I may ask for a One Year Home Warranty activated on the date of Settlement, HVAC Serviced if not done within a year (You can ask for this at the Home Inspection - but I prefer not to have to negotiate that later and just ask upfront - you will find Seller's are more willing to negotiate up front than later), popular FHA Down Payment assistance program's such as the Ameri-Dream or Nehemiah Program (Ensure you know how to word this in the contract), home inspections and other applicable inspections and possibly condo fees x ? mos. Another thing is I do is look at things like windows and doors that may be damaged and ask for those to be replaced under property condition, and adequate insulation in the attic (ex. R22 - always check the attic!). Many homes are sold with windows that have broken seals and are fogged. This can be negotiated in the home inspection, but does not have to be granted unless the appraiser writes it in the report and the lender refuses the loan unless they are replaced or repaired. So, I just check it in advance.

I think it is great that you are asking these questions. Find yourself a savvy Realtor that you can go to when needed. Also, very important rule when listing condos, document in the MLS the tenant to owner occupany ratio, and when representing a Buyer for a condo, be sure to get that information prior to writing an offer if you can and definitely before ratifying an offer. Find out what the Lender's stipulations are and make it a contigency. It will save you time and added expenses.

You can email me anytime for additional questions.

All the best, Rebecca - Wed Jul 2 2008, 20:41

In many areas of Virginia Beach, housing prices have remained stagnant as Seller's try to hold on to property values. Unfortunately in many areas, pride of ownership is not exemplified. However, there are homes and areas where equity and opportunity flourishes. Also do keep in mind that according to the Bureau of Labor and Statistics, Hampton roads ranks top 100 in the nation for the highest median salary, 16th highest ranked in salary growth amongst 359 US metropolitan areas in the nation and is slightly above the national average for cost of living expenses. Not bad at all. Our school districts are some of the best in the nation and we have much to offer in the way of entertainment, education and job growth.

Find yourself a dynamic Realtor who is dedicated enough to thoroughly look for that property (home) that best meets your needs and wants. Keep in mind that it is important to review neighborhood statistics and property reports before choosing the area to live in.

I wish you all the best, Rebecca - Tue Jul 1 2008, 20:37

Although my first recommendation would be to look in the CRS Membership Book and refer them to a Senior agent, do keep in mind that even Rookie agents go above and beyond for their clients in many facets and can impress even the best of the best. Also, many Realtors begin their careers in the mid-30's, so it is not uncommon to find a Realtor that has already made their mark in the business community. Interviewing and getting to know an agent can be time consuming. Ensure that you educate your Buyers on all the key factors they should know and look for and let them know that you are readily accessible should they have any questions/needs.

If you ever need a dynamic and savvy Realtor with attention to detail and unmatched dedication to her clients, you can contact me for the Virginia Beach/Hampton Roads area of Virginia at (757) 737-3498. I wish you all the best, Rebecca. - Tue Jul 1 2008, 19:59