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

Manassas Homes Summary

Shopping for Your Manassas Real Estate Loan


Manassas Real Estate Loans have become part of a worldwide mortgage market and mortgage lending is impersonal and competitive. When you shop for the best loan dont pay too much attention to who is originating the loan. Instead focus on interest rate, points, processing costs and whether you want a fixed rate or an adjustable rate loan. The reason for this is that more than likely, your Manassas real estate loan will be sold to one of the organizations made up of what is known as The Secondary Market.

Manassas Disclosure Rule


Tell All is definitely the rule for anyone who is selling Manassas real estate in todays market. Let the Buyer Beware can easily come back and bite you in a delicate spotyour pocketbook.

Today, those selling a home or any Manassas are expected to disclose all known material defects that are not readily apparent to the buyer. A Material Defect is usually a physical condition that would affect a buyers decision to purchase the home or what price to pay for the home. A leaky roof is definitely a Material Defect. If a Manassas seller tries to disguise the leak by painting the interior ceiling and walls without fixing the leak, the truth will come out the next time it rains. Chances are the first call the buyer makes will be to his attorney.

Manassas Real Estate Title Insurance


A Manassas mortgage policy that insures the lender remains in effect until the loan is paid off. An owners policy insures the buyer and remains in effect as long as the owner or the owners heirs own the property. An owner policy may cost a little more than a lender policy. For example, an owner policy may run somewhere around $3.50 per $1000.00 of home value while a policy for lender protection may run in the neighborhood of $2.50 per $1000.00 of home value.

The Manassas real estate Title Company searches and examines public records to determine if any problems with the title exist. Your real estate agents works very closely with the Title Company to help clear up any past clouds that may affect the transfer of title to the new owner.


Manassas Real Estate Title Insurance


Buyers in the Manassas market can be tempted to save money by foregoing a title search but the risks are heavy because title problems are many and varied. Some typical problems that title searches have uncovered include a second mortgage on a home that does not appear to have been paid off. The sellers borrowed money years ago from a parent who insisted that a second mortgage be recorded. The loan was repaid but the title wasnt cleared. Another typical Manassas problem occurs when an owner had work done on the property but for one reason or another failed to pay the contractor in full. The contractor filed a mechanics lien on the property and it has never been removed. These are liens on the property and if you take title to a property without clearing these liens or encumbrances, you may be responsible them.


Bitten by the Manassas Home Improvement Bug?


Maybe, like millions of Americans, you cant help it! You live in your Manassas 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 Manassas 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.


Buying Manassas Real Estate...Will it Pay?


A frequent question from prospective homebuyers relates to building home equity. Manassas buyers like to estimate how much a home may increase in value based upon past appreciation. One of the many advantages of home ownership is that appreciation is based on the homes market value rather than on the actual dollar amount invested or the down payment so that a $100,000.00 home that appreciates 5% is now worth $105,000.00. This is one way of building your Manassas home equity but there is more you can do.