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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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Tips for Buying Bristow HomesShopping for Your Bristow Real Estate Loan
Bristow 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 don’t 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 Bristow real estate loan will be sold to one of the organizations made up of what is known as The Secondary Market.
Bristow Real Estate or Homeowner’s Insurance
While it is necessary to have Bristow Real Estate or Homeowner’s Insurance, there are ways to reduce your premium costs.
One: Raise your deductible. Deductibles are the amount you must pay towards a loss before your insurance company starts to pay. You can save costs on your overall policy by increasing the amount of your deductible. For example, according to a Federal Government paper on lowering Bristow insurance costs, you can save up to 12% on your rate if you go with a $500.00 deductible rather than a $250.00 deductible.
Bristow Real Estate Title Insurance
Buyers in the Bristow 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 wasn’t cleared. Another typical Bristow 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 mechanic’s 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.
Rent or Buy Bristow
For most people, the chance to trade nondeductible rent payments for mostly deductible mortgage payments is a powerful inducement to trade a rental home into a Bristow of your own. This is by far the single most important reason why people decide to buy their first Bristow.
However, whether you are considering your first Bristow investment or planning to move up, the number crunching necessary to figure out how much house you can afford depends on two calculations: one for actual monthly outlays, the other for the true, after tax costs.
Taking Title to Your Bristow
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 Bristowand 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 Bristow. If one owner dies, that person’s 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 Bristow in this way. Title is in the community
Tips for Buying or Selling Bristow
Most experienced real estate agents and brokers already have Websites that showcase their local MLS data so your Bristow can show up online as soon as it is listed. On the other hand, if you are selling on your own it will take time or a considerable advertising budget to get your individual Bristow property to show up on the major search engines where prospective buyers will find it. You could tap into one of the several For Sale by Owner Websites but that would limit your market of buyers.
Buying real estate in Bristow is also much easier when you work with a real estate agent who knows the area and the market. While there is a great deal of information online about real estate asking prices, it is not always so easy to find out what a property actually sold for. And even then, specific terms of a sale often make a difference in how to interpret the sales price.
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