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

Manassas FAIR MARKET VALUE


When you buy Manassas 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.

Manassas Real Estate Contract Options


Finally, the Exclusive Agency Listing allows an agent to list and market your Manassas real estate. The agent will earn a commission if he/she or any other agent sells the property but not if the homeowner finds his/her own buyer. Very few if any agents are willing to agree to spend time, money and know-how on promoting a home without the guarantee of a commission when the home sells.

Many people imagine that the agent who lists their home begins an immediate search for likely homebuyers for Manassas but this is not always the case. The real skill of a good listing agent is her/his ability to market your home to other agents. Usually as soon as your listing agent returns to the office, your home is entered into the MLS and is now available to hundreds, maybe thousands of other agents.


Manassas Real Estate Title Insurance


Buying a new home is the single largest financial investment for most families but there are risks. What if the seller doesnt really own the home? What if there are mortgages, judgements or liens against the property? What if the property taxes have not been paid for several years? Manassas real estate Title insurance protects you against these types of risks and against the risks of human error. It is your basic home ownership protection.

Manassas Title insurance protects you against future losses arising out of events that have happened in the past. Unlike other types of insurance, title insurance is paid when the policy is issued and is good for the life of the policy. The premium required is based on the amount of the sale or the mortgage.


Before You Buy Your Manassas Home


Whether you are a first time buyer or someone who is moving up to a more expensive home its a good idea to start by cleaning up your credit report. Lets say you apply for a loan to purchase an Manassas condo, town home, single-family home or any type of Manassas. The lender will check out your monthly income and outgo to determine if you can afford to repay the loan. Therefore, it is to your advantage to pay off as many high-interest consumer loans as possible. If you are planning on buying a car, a boat or other major purchase, put it off until after you have bought your selected Manassas real estate. Lenders look for certain patterns they consider red flags. These are: late payments, overextension, liens, garnishments and, of course, bankruptcy. Remember, debts reduce the amount of cash you can spend on the Manassas you want to buy, so clear the decks as much as possible before applying for a loan


Manassas BARGAINS


A bargain exists in the mind of a buyer when entering into an agreement to exchange goods when the buyer thinks the price is favorable. Bargains can always be found in the Manassas market if a buyer is patient and willing to wait for a truly motivated seller. In economic downturns many people believe that foreclosures and short sales are automatically bargains when, in fact, this may not be the case.



Manassas DEDUCTIONS


One of the advantages of home ownership is that while most other types of interest are not tax deductible, the interest you pay on your Manassas loan is deductible on your Federal and State income tax. This fact alone gives homeowners a distinct advantage over renters.