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DC
METRO REAL ESTATE
Serving
the Real Estate needs of the communities of
Manassas, Bristow, Haymarket, Warrenton, Gainesville
and Culpeper in Northern Virginia
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Dave
Scardina
Broker
/ Owner
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703-829-SOLD
866-909-0900
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Buying and Selling Bristow CondosBristow FAIR MARKET VALUE
When you buy Bristow real estate or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser uses the Rule of Three. What that means is the lender wants to evaluate three "comparables"—recent sales of nearby homes that are very similar to the one you are buying. Based on this information, the lender will make adjustments to reflect the differences between the properties and arrive at a fair price for your home.
Bristow. How Much Should You Offer?
A good starting premise is that everyone wants to buy a home for thousands of dollars under market and when the time comes, to sell that home for thousands of dollars over market. This is basic human nature. When you are in the position of making an offer on Bristow real estate property there are certain facts you need to know.
Is it a Buyer’s Market or a Seller’s Market? In a Buyer’s Market conditions favor the buyer. Bristow real estate listings are plentiful, home sales are declining or stagnant. In a Seller’s Market the opposite is true. There are more buyers looking for homes than there are homes available. Your low-price offer is far more likely to succeed in a Buyer’s Market than in a Seller’s Market. How do you know what kind of a market exists? Ask your REALTOR, read the newspaper, check online.
Bristow: Art and Science
Buying a piece of Bristow real estate is a science but buying your Bristow home is an art. The science part involves getting the legal and financial parts down while the art is finding the Bristow property that you’ll be happy with.
The total universe of possibilities within the universe of Bristow real estate is quite diverse but narrowing your search ahead of time will help keep things in perspective.
In general there are two phases to any Bristow real estate search. In the first phase, you get a feel for the different areas and an idea of what is being offered at what price. In the second phase, you search for the Bristow real estate that meets all or most of your specifications.
Buying Bristow Below Market
On most real estate Websites you can enter the parameters you want for your Bristow. Include the price, size, features and location and the technology will notify you automatically the moment a property that meets your needs comes on the market. Now if what you are looking for is a particular type of property for a price that is significantly under market, you’d better be prepared to act quickly because you aren’t the only one who’s looking for a bargain.
Often times, when a home comes on the market priced under the market there are extenuating circumstances. Maybe the house needs maintenance. Maybe the yard needs work. If you are prepared with a certain amount of knowledge about the costs of roofing, painting, landscaping and other types of deferred maintenance, you will be in a position to evaluate whether or not the Bristow is priced well enough that it truly is a bargain and not a fixer-upper nightmare.
Taking Title to Your Bristow
There are so many details to consider when purchasing your Bristow and mounds of legal paperwork to read that sometimes it seems overwhelming. Some important decision can be made ahead of time so you know what is in your best interests when the time comes. For example, right at the end when the paperwork is being signed you may be asked how you want to take title. This is an important decision that should not be rushed but often is. Knowing some of the common forms of Bristow ownership ahead of time is one way to protect yourself.
A single Bristow buyer will usually want to take title in his/her name alone. Husbands and wives usually own property through a form of joint ownership such as joint tenancy. Unrelated individuals can take title in a limited partnership arrangement.
Bristow APPEAL
A large part of the appeal of the real estate market in any area is the architecture or the style of the homes themselves. The appeal of Bristow is its appropriateness to the region in terms of style, history and weather conditions.
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