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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 Selling Manassas Real EstateManassas-Home of Their Dreams
Ever think you would like to build your own Manassas home and have everything just the way you want it? Lots of people do and they often start by looking at land or lots for sale. With many people the idea is to buy a lot today, get it paid off or mostly paid off and then sometime in the future, contract with a custom builder for the Home of their Dreams via Manassas.
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
The most common type of listing agreement used between sellers and the real estate broker is known as “The Exclusive Right to Sell” Agreement. In this agreement the agent agrees to include the home in the Multiple Listing Service (MLS). The details of a Manassas real estate listed in the MLS are available to all agents and brokers and with the advent of the Internet, MLS listings are shown on the World Wide Web.
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 Homebuyers Quandry
Before you begin your next home search, make sure the Manassas you have is Market Ready. If painting or landscaping or repairs need doing, get them done. If you are going to go out house-hunting you may save yourself a lot of heartache and headache if your house is ready to be listed at a moment’s notice.
In many cases the amount you expect to realize from your existing Manassas real estate will determine the price you can afford to pay for your next home. Start with a Comparative Market Analysis so you will know about how much you can afford to spend.
Buying a Manassas Fixer-Upper
Some Manassas investors concentrate on buying fixer-uppers, making repairs and upgrades then selling for a profit. Going with a Manassas fixer-upper can also be a smart way for those who are handy to buy a home in a neighborhood that they might otherwise be unaffordable. Fixer-uppers are a wonderful opportunity for those who simply love to create their space to their own specifications but for whatever reason do not want to start with a vacant lot.
Best to know the extent of the job and whether or not you are up to it before you buy. Some Manassas fixer-uppers simply need cosmetic work such as paint, wallpaper, carpeting and maybe kitchen appliances are fairly easy to estimate the costs for fixing. Manassas homes that need minor structural repairs such as roofing are also fairly easy to cost estimate.
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