DC METRO REAL ESTATE

Serving the Real Estate needs of the communities of Manassas, Bristow, Haymarket, Warrenton, Gainesville and Culpeper  in Northern Virginia


Dave Scardina  
Broker / Owner

703-829-SOLD

866-909-0900

Haymarket Homes Values

Haymarket Home Inspection


The purpose of a thorough home inspection is to ensure that Haymarket home buyers know exactly what a homes condition is prior to completing the transaction. A good Haymarket home inspection should include an evaluation of the foundation, framing, roofing, site drainage, attic, plumbing, heating, electrical system, fireplaces, chimneys, pavement, fences, stairs, decks, patios, doors, windows, walls, ceilings, floors and built-in appliances. All significant or pertinent findings should be reported in writing to the prospective Haymarket homebuyer. The home inspection report gives the Haymarket homebuyer the information he or she needs to determine whether to buy the property as is or to ask the seller to make repairs.

In most cases, when an Haymarket homebuyer makes repair requests, sellers usually agree to some if not all of the conditions.

Haymarket FAIR MARKET VALUE


When you buy Haymarket 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.

Bitten by the Haymarket Home Improvement Bug?


Maybe, like millions of Americans, you cant help it! You live in your Haymarket home for several years and before you know it, you find yourself thinking about how the kitchen would look with new cabinets and a granite countertop. Should you start with the kitchen or would it be better to add a home office to give the family a little more room? There seems to be endless options for the creative Haymarket homeowner bitten by the Home Improvement Bug. Once you get started thinking along these lines, it usually doesnt take long before the ultimate question pops up. Is it better to improve your current home or simply sell and buy a bigger, newer or more desirable Area home? Here are some issues to help you make that all-important decision.


Taking Title to Your Haymarket


Each owner has a separate title to an undivided interest in the entire property. Each owner is allowed to sell, mortgage or give away his/her interest. Any number of people can take Tenancy in Common ownership of Haymarketand husband and wife may choose this option as well. When an owner dies, his/her interest passes by will to his/her heirs. In other words, there is no survivorship right.

Each owner has an equal interest in the Haymarket. If one owner dies, that persons share of the property passes automatically to the other without going through probate. Any number of people can take ownership under Joint Tenancy and husband and wife may choose this option as well.

Community Property. Only husband and wife can take title to Haymarket in this way. Title is in the community


The Benefits of Selling Haymarket


As you know, you are allowed to sell your Haymarket principal residence once every two years and exclude up to $250,000 ($500,000 for a married couple) of the gain of the sale on your Federal income tax. Please note: This is not a once in a lifetime tax savings and you dont have to be any certain age or buy a more expensive property. If you meet the two-year residence test you can sell your principal residence every two years if you are so inclined and the market cooperates. But this tax saving does not affect rental property unless you convert the rental to your personal residence, live in it for two years and then sell it.


Haymarket SEARCH


The easiest way to start your Haymarket search is to use the online search capabilities on this Website. This will give you a snapshot of all the homes that are available in your price range, with the amenities you require and the locations you might consider. Next, make contact so that a knowledgeable agent can help you narrow your choices and take you on a personal tour of your best options.