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 Real Estate Tips

Haymarket Lot


Financially that may be a good strategy but take heed and purchase your Haymarket lot with care. Why? Because it can happen that the lot you buy today is not suited at all for the Haymarket home you want to build in the future. Here are some things to watch out for.

Haymarket Real Estate Contract Options


Less common types of agreements include what is known as a One Time Show, and Exclusive Agency, and an Open Listing agreement. The One -Time Show and the Open Listing are similar and are often used by homeowners who wish to sell their Haymarket real estate on their own but will agree to pay a commission to an agent who brings a qualified buyer for the home. A Haymarket homeowner may agree to an Open Listing with several agents and also agree to a One-Time Show to any agent who has an interested buyer.

Guidelines for Buying Haymarket


Lets say everything is a GO! You have found the perfect Haymarket home. You know you can afford it and it is actually priced below what you expected to pay. What a bargain! Yes there are bargains to be found in Haymarket. At this point it is fine to put in an offer on the property but only with a well-planned contingency. Of course, it the home is going to be financed, the lender will want a Home Inspection before agreeing to lend money on the property. However, you need to protect yourself by making an offer SUBJECT TO a clean bill of health from the Home Inspector of your choice. This kind of a contingency gives you an out if the inspector finds a problem with the roof, or foundation or other structural problem that was not apparent to the seller or to your agent. This does not mean you will not buy the house but you will have a good reason to renegotiate the price with the seller.


Haymarket. How Much Should You Offer?


Or more precisely, what does the seller owe on the property. If a seller owes $400,000 on the Haymarket real estate he or she is not likely to welcome an offer for $350,000. If you want to negotiate price, make sure you dont waste your time negotiating where there is no room to budge.

Even if the loan is high, if the seller is in default there is a possibility of a short sale as many lenders will reduce the loan balance in order to move the property. Most lenders do not want to foreclose and manage homes and the Haymarket market is no exception.


Buying Haymarket Real Estate...Will it Pay?


With a typical 30-year loan, most of your monthly payment goes toward interest payments with only small amounts going to the principle in the early years. Only half the principle is repaid in the first 23 years of the loan. You can build equity in your Haymarket faster by choosing a 15-year loan instead of a 30-year loan.

As a Haymarket real estate owner you have the right to pay more towards the principle loan amount each month. Lets say your monthly payment is $700.00 a month and $100.00 a month is being applied to the principle. If you choose to pay $900.00 instead of $700.00, the $200.00 overage will be applied entirely to the principle. Thus, instead of gaining $1,200.00 a year in home equity, you gain $3,600.00. Investing in Haymarket can be a very good idea.


Does Your Haymarket Have Curb Appeal?


Every prospective buyer who visits your Haymarket home is struck by a variety of impressions regardless of whether your landscaping is eye-catching or merely so-so. Plants that overrun the walkway, trees that badly need pruning and visible suggest to the prospective buyer that this home will take a lot of landscaping maintenance and yet if your yard is well-maintained, the prospective buyer is inclined to simply admire the fact and move on. If your Haymarket front porch or front door need paint, the prospective buyer is likely to notice the paint job inside and out and think about how much maintenance that will take on a yearly basis. The important message here is that things that look bad or run down call attention to all the work that needs to be done while things that are well maintained conjure up ideas of how pleasant it would be to live there.