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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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Haymarket Homes GuideHaymarket. How Much Should You Offer?
Comparable sales figures is a good guide for homeowners who are pricing their Haymarket and a good guide for prospective buyers. Make sure you compare homes that are similar to the one your are considering...the same neighborhood, the same size, the same condition. Also, make sure you compare sales within the past six months.
Ask your REALTOR for a comparison of the list price and sales price of comparable Haymarket sales. This information may give you a trend and a guideline for your offer. For example, maybe homes in the area have consistently listed for more than they actually sold for. If that is the case, find out what percentage of reduction occurred. Use this information as a basis for your offer.
Bitten by the Haymarket Home Improvement Bug?
Money isn’t everything however so that if the most important consideration for remaining in your Haymarket home happens to be the school where your children attend or the proximity to your work or to a particularly attractive recreational opportunity then remodeling may be the best option. On the other hand, if the idea of having your Haymarket house torn up for weeks at a time makes your blood run cold, it really doesn’t matter how much money you might make turning a fixer-upper into a model home. You will be far better off selling the home you have and moving to a home that better fits your needs.
Taking Title to Your Haymarket
There are so many details to consider when purchasing your Haymarket and mounds of legal paperwork to read that sometimes it seems overwhelming. Some important decision can be made ahead of time so you know what is in your best interests when the time comes. For example, right at the end when the paperwork is being signed you may be asked how you want to take title. This is an important decision that should not be rushed but often is. Knowing some of the common forms of Haymarket ownership ahead of time is one way to protect yourself.
A single Haymarket buyer will usually want to take title in his/her name alone. Husbands and wives usually own property through a form of joint ownership such as joint tenancy. Unrelated individuals can take title in a limited partnership arrangement.
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 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 Haymarket in this way. Title is in the community
The Benefits of Selling Haymarket
If your Haymarket holdings consist of both a personal residence and a rental, you can sell your personal residence and exclude up to $250,000 ($500,000 for a married couple) on the gain. Then you move into your rental, live in it as your personal residence for two years and then sell it, again benefiting from the $250,000 or $500,000 exclusion. This is true even though most or all of the increase in value occurred before you converted the property to your personal residence.
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.
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