NOVA Homes Blog: Rules of Real Estate for Northern Virginia Homebuyers

Tuesday, February 25, 2014

Rules of Real Estate for Northern Virginia Homebuyers

Spring is set to be a busy homebuying season for those in Northern Virginia. And with more homebuyers in the Northern Virginia real estate market and more sellers confident in listing their homes, it's important to keep your real estate rules of the road in mind. Below are just a few real estate rules to remember, like using an experienced real estate agent, that should help you in your home search or sale this spring:

Don't Make an Offer Without Pre-Approval
Know what you can afford. This all starts with a pre-approval, meaning "a lender has vetted your credit and financials and is so far willing to continue the mortgage dance," explained MSN Real Estate. A pre-approval letter will tell the real estate agent and home seller how much you can afford in a home and the confidence that you are able to follow through on the purchase.

Use a Real Estate Agent
As this is the biggest purchase you will likely ever make, you'll want to have someone on your side who has been there before. I, as your trusted, experienced real estate agent in Northern Virginia will work on your behalf to make sure all aspects of the transaction are to benefit you as the buyer. It can really pay to have an expert in your corner when buying a home and I have over 3 decades of experience to get the job done.

While the internet does help in answering questions for homebuyers, there is nothing like having an agent on your side. "Nearly 90% of homebuyers use a real estate agent of broker," according to the National Association of Realtors.

Tour the Home in Person
Many homebuyers these days begin their home search online and tour the home through photos. This can be helpful for those buying homes from different states, when relocating, or if you are unable to physically visit the home. But if you're able, go tour the homes in Alexandria, Arlington, Falls Church, DC, or McLean in person and see for yourself if the property feels like a fit for you and your family.

There is nothing like visiting a home, looking for those feelings that come with falling in love with a property. Homebuying is often an emotional experience which you will want to begin in person.

Put Down Earnest Money
It's customary when purchasing homes in Northern Virginia but putting down earnest money shows that you are serious about buying. This "deposit" is typically 1-2% of the purchase price, but consult with your agent to determine the right amount.

When submitting this with your pre-approval letter, not only does it show the home seller that you are interested, but that you've done the research and have the funds to back it up.

Ready to buy this spring season? I'm here to help! I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna.

Earle Whitmore

Long & Foster Real Estate, Inc.
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When you first meet Earle, she greets you with a firm handshake and a broad smile. She has a certain charm and friendly nature that immediately set you at ease. As you talk to her, she listens intently. You can see by the earnest look on her face that she’s already developing ideas and strategies to accomplish your goals. By the end of your conversation, you’re surprised that someone can have such a clear understanding of your needs after just one meeting. This is the essence of Earle’s real estate service. She’s a straightforward businesswoman who doesn’t let up until her clients are satisfied.
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