Categories
Real Estate Investments

What Is a Home Inspection Contingency and Why Is It Important?

Home inspection contingencies are important for Fairfax buyers who want to avoid common problems after buying a property. Buyers can void a contract if they find a major problem after an inspection, or negotiate for repairs or credits. Typically, the inspection contingency is three to ten days long, while the negotiation period is two to five days. Home inspection contingencies can help protect buyers who aren’t approved for loans, and they allow buyers to defer closing until the property passes inspection.

Contingent offers protect buyers from common problems

If you have a good reason to believe that the home you’re considering isn’t in great condition, you might want to consider making a contingent offer. These offers protect buyers from problems that often come up during a home inspection. They allow buyers to pay more than the appraised value and cover closing costs. While buyers are always welcome to sweeten their offers with additional items, such as paying for the real estate agent’s commission, this isn’t the only way to go. We buy houses fast in Fairfax, in any condition.

Contingent offers are an important part of the home buying process. They protect buyers from making offers they can’t afford and prevent fraud and poor inspections. The buyer can choose how many contingencies they want to include in the contract. Using a qualified real estate agent can help you decide which contingencies are best.

A home inspection is a crucial part of the home buying process, but it can be a deal-breaker if you don’t know what you’re looking at. In most cases, a home inspector will look at the home both inside and outside, and they will look for damage or significant wear and tear. As a buyer, you have the right to walk away from the deal if you discover any significant problems during the inspection.

When buying a home for the first time, buyers often experience a great deal of anxiety. Before you make a final decision, consider all the possible risks and consider a contingent offer. This is a great way to protect yourself in the event of a major problem during a home inspection in Fairfax VA.

Qualifications of home inspectors in Fairfax VA

If you’re thinking of hiring a home inspector in Fairfax VA, you should first determine their qualifications. In Virginia, all home inspectors must have a license to practice, which must be renewed every two years. In addition, home inspectors must complete a mandatory 16 hours of continuing education. This education is offered through InterNACHI, and it is free. You should look for an inspector who has taken courses on house systems and home construction, such as a NRS specialty, before hiring them for your next home inspection.

A home inspector who is a member of the American Society of Home Inspectors (ASHI) is among the most qualified inspectors in the area. They are required to meet rigorous testing, experience, and continuing education requirements to earn membership. The membership requirements are the strictest in the industry.

Fairfax County has strict laws against discrimination in hiring and employment. Home inspectors cannot discriminate on the basis of racial or ethnic origin, age, disability, political affiliation, or religion. If you are looking for a home inspector in Fairfax, VA, make sure to choose someone with the highest level of experience and expertise in the field. You should be able to find a home inspector with a good record and excellent feedback from previous clients.

Home inspection training courses are comprehensive and include 11 modules that cover the major components of a house. This training can be taken online or on a PC. Although PCs are recommended, Macs may not work perfectly with some features of the software. You will need to have a personal email account to access the course materials.

Negotiation period for a home inspection contingency

Home inspection contingencies can be beneficial to both parties. If there are defects in the property, the buyer can void the contract and request repairs or credits in exchange. In addition, they can extend the closing date if the property isn’t habitable. However, if you’re buying a home with an inspection contingency, you should make sure that the time period is appropriate for both parties.

There are many ways to negotiate a home inspection contingency. One way is to hire a contractor. A contractor can fix problems such as leaky faucets, broken window glass, and roof damage. A good contractor will have references and a proven track record working with real estate agents.

Another option is to waive the home inspection contingency entirely. This is preferred by sellers because buyers with no contingency are taking a substantial risk. Moreover, some homes have major problems that the average homebuyer may not notice. The seller is also required to disclose any known problems.

Home inspectors are highly trained professionals who will look for safety and structural defects. Typically, they can take from one to four hours to complete an inspection. The inspector will have to coordinate schedules with the buyer. In addition, the buyer should attend the inspection.

Del Aria Investments & Holdings

11166 Fairfax Blvd Suite 500, Fairfax, VA 22030

(703) 936-4331

https://delariainvestments.com/

Categories
Real Estate Investments

Is it Better to Rent Or Buy a House in Fairfax, Virginia?

 

If you’re in the market for a new home in Northern Virginia, you’ve probably asked yourself the question, “Is it better to rent or buy a house?”  buy from Del Aria Investments Group Real estate in Fairfax, Virginia is very attractive, and interest rates are low. However, there are some important factors you need to consider before making the decision.

Renting vs buying a house in Fairfax can build equity

The decision to buy a house versus rent can be a major one. While owning a house is a great experience, many factors must be considered. Fairfax has a competitive real estate market, with a very low inventory. The median home value is around $600,000. The homeownership rate in the Fairfax area is approximately 70% owner-occupied, compared to 30% renter-occupied. This indicates that Fairfax residents generally prefer owning a home. Additionally, the average market rent in Fairfax is very high.

The housing market in Fairfax has seen a rise in price over the past year. However, the housing market in this area is still highly unaffordable, and a lack of affordability may limit your options. If you’re not sure which route is right for you, talk to a real estate agent to help you weigh your options.

The first choice between renting and buying a home is the amount of money you can afford to pay monthly. A low-priced house will cost you less money than a home with a high-priced down payment. However, you’ll have to pay higher interest rates for a smaller down payment. So, if you can’t afford to pay 20 percent of the home’s value, you may want to consider renting instead of buying.

Buying a home if you’re in financial trouble

If you’re having financial problems and you want to buy a home in Fairfax County, Virginia, but don’t have a large enough down payment, you might qualify for the Fairfax County First Time Home Buyer Program. This program was developed specifically for first-time buyers. The average Fairfax County home is worth about $600,000. Prices range from $21,000 to over $45 million.

If you inherited a home, selling it may seem like a good idea. However, it can take months to sell a home. If you’re looking to get your money back quickly, a fast sale can be an excellent option. A quick sale can avoid a lot of headaches, like the hassle of searching for a realtor and paying commission costs.

You must know your budget and work with a knowledgeable agent to narrow your search. You’ll need to obtain mortgage pre-approval, which will give you an idea of how much you can afford. This will help you work with a knowledgeable real estate agent to find a house within your price range.

Cost of renting vs buying a home in Fairfax

The cost of renting a home in Fairfax is about the same as that of buying one. However, renting is more affordable than owning a home, as the monthly rent can be lower than the monthly mortgage payment. For example, the median rent for a one-bedroom dwelling in Fairfax is $1,881 per month, which is almost the same as the median monthly mortgage payment.

Currently, the median home price in Fairfax is $560,000, down from $560,000 in February 2017. The average monthly mortgage payment is $2,729, but homes in Fairfax are reasonably sized for the price. Housing costs in Fairfax are higher than the national average, with a cost of living index of 238. However, there are many advantages to owning a home in Fairfax.

One of the main benefits of owning a home in Fairfax is its proximity to Washington, DC. The city is conveniently located near major highways, and is easily accessible from many parts of the Washington, DC metro area. Fairfax also has a high median income, which can offset the higher housing costs.

Other factors to consider before buying a home in Fairfax

One of the first steps when buying a home is to get preapproved for a mortgage. The process is fairly painless and can be done online. While it may take a few days if you have a complicated financial situation, it will give you some credibility as a buyer.

Another important factor is affordability. It is important to consider how much money you can afford to spend on a mortgage. Ideally, you shouldn’t be spending more than 28 percent of your income on your mortgage. Also, lenders scrutinize your other debts, so make sure to pay off credit card debt and car loans before buying a home.

Before making a purchase, it’s important to schedule a home inspection. This will help you learn about any hidden problems in the property. Although you may get a seller’s disclosure that states there are no defects in the home, it is important to get a professional inspection.

Categories
Real Estate Agents

How Much Commission Does a Realtor Make in Fairfax Virginia?

If you’re interested in selling your home, you may be wondering how much commission does a realtor make in the Fairfax area you can try Del Aria Team. HomeLight’s algorithms will help you find a Fairfax VA realtor who offers the best value for your money. The commission that listing agents and buyers’ agents share is known as the “Agent commission split.”

HomeLight’s algorithms will give you a list of Fairfax VA realtors that offer the best value

HomeLight is a free service that compares the performance of real estate agents in your area. Its algorithms base their recommendations on real estate data and reviews. If you’re looking for a realtor in Fairfax VA, HomeLight can help.

HomeLight has an online marketplace that connects buyers with sellers. This marketplace allows agents to earn a commission from referral fees and close more deals. It also allows sellers to sell their homes to cash buyers who pay less than market value.

HomeLight uses multiple sources to produce a real-time home value estimate for your home. It looks at current market trends to determine the most competitive agents in your area. This information will help you make an informed decision. You don’t have to use a HomeLight-recommended agent. The algorithms will prioritize the agents based on their experience and number of successful deals.

HomeLight works by matching prospective buyers with the most qualified real estate agents. Signing up is free, and the system matches you with agents based on your specific preferences. Once you’ve been matched with a few agents, you can schedule an interview and choose the best one for your needs.

Agent commission split between listing agent and buyer’s agent

If you’re selling a home in Virginia, the help of a real estate agent will make the process go quickly and smoothly. A good agent can get you top dollar for your home. However, you should be aware that a real estate agent’s commission is not set in stone. Typically, the commission rate is split 50:50 between the buyer’s agent and the listing agent. For example, if a home is worth $600,000, the buyer’s agent would earn $36,000. However, if you want to get the best commission rate, you can work out an agreement with your agent.

Virginia law addresses how real estate agents make money. The average commission rate in Virginia is 5.2%, or $20,280. In some states, the commission split is lower. For example, in Virginia, the listing agent receives a 60% commission split, while the buyer’s agent receives a 40 percent commission split.

Negotiable commission

A real estate agent’s commission is a significant part of the final sale price. If you are able to negotiate the commission rate, you may get a lower fee. There are several ways to do this. You can try working with a low-commission company, asking a different realtor, or asking for a lower commission yourself.

One option is to go the “For Sale By Owner” route. You can post fliers, use yard signs, and use free websites. You can also consider hiring a real estate attorney. However, you should be aware that the fee you will pay will be lower. While selling a home yourself is easier, you may not be able to get the full service experience you want.

If you can’t afford a full-service realtor, you can always negotiate the commission rate for a lower rate. However, you should remember that some realtors won’t lower their rates – so it’s important to choose an agent that is willing to work with you on a lower commission. In Virginia, the average commission rate for a realtor is 5.23%. This includes the 2.56% commission for the listing agent, plus an additional 2.66% commission for the buyer’s agent. As a seller, you should not offer to pay more than this because it may cause unintended consequences.

Typical commission for a real estate agent in Fairfax Virginia

A real estate agent’s commission is a large part of the cost of selling a home. This amount will vary greatly depending on the market and the brokerage firm you choose, but generally speaking, a commission of between one and three percent of the final sales price is standard. As an example, if you sell a $500,000 home for $52,000, a real estate agent will charge you $30,000. For this reason, it’s best to research the fees before hiring an agent.

The average real estate agent in Fairfax makes around $111,000 a year. This is 88% higher than the US average. Because the cost of living in this area is very high, having a good starting salary is essential. While you’ll pay your agent a commission, your pay will likely be higher depending on your experience and the value of the home you sell.

The average commission charged by traditional real estate brokerages is 6% of the selling price, which equals about $30k for a $500k home. An individual Fairfax real estate agent works under a brokerage, but usually splits their commission with cooperating brokers. If you’re looking for a lower-cost agent, check out discount real estate companies and websites. These websites will often sell a home for less than traditional real estate companies.

Del Aria Team
T25SA, 3975 Fair Ridge Dr, Fairfax, VA 22033
(703) 499-0111
https://delariateam.com/

Categories
Sellers

Possible Reasons Why Your Home is Not Selling

Before deciding to market your home as a homeowner you must do some actions for attracting the buyers. Otherwise, you’ll face a lot of struggles to sell your home. Here are some reasons why your home is not selling, just go through it and correct your mistakes.

If the listing of your home is poor i.e a listing with a poorly written description or lack of images, buyers will not get a good impression to buy the property. Low-quality images also create a huge impact.

If your house is overpriced, the buyers will not show interest to invest a big amount. Don’t add the amount you have spent on renovations.

If you refuse to negotiate even a small amount then you’re too attached to your property. This will create a lot of difficulties when you put the agreement with a buyer.

Make your house free from dirt because when you start to market the property it should be maintained properly otherwise it will create a bad impression among the buyers.

If you’ve not staging your home the buyers will not get any idea to connect with the house. Instead, stage it with furniture and decor to give a better idea to the buyers.

Even if you keep your home clean, clutter can still make an issue. If you place too much furniture in one place it will make the space smaller. Avoid it.

A home with a lot of repairs does not convince the buyers to invest in it.

Choosing the wrong real estate agent also will give you difficulty in selling the home.

Don’t keep your home too personalized this will scare off buyers who don’t want to waste the money on the features they don’t like.

Use simple yet elegant decor for the living space, otherwise, the buyers will skip it off.

These are the simple reasons which must be corrected by a homeowner before selling it.

Categories
Sellers

Tips for First-Time Home Sellers

Selling your home is a big deal. There are a lot of things to consider when you’ve decided to sell your home right from the agent to pricing your home. Without proper guidance, it’s easy to make mistakes so hire a professional agent. Research the current market happening and understand how to sell your home. 

Here are the tips for first-time home sellers,

Pick the right realtor

It’s possible to sell the house without the help of a professional, but it’s not right. Selling a house is not an easy task, too many things can go wrong, with the help of the right agent you can understand the market. Look for an agent who has a good number of satisfied customers, he/she must be responsible for how your sale goes. Not all realtors will satisfy your needs so choose someone who can help you accomplish your sales goals. Interview at least three to four agents to see who does the best and suits your work. If you hire a well-experienced agent they will guide you in each step in the listing.

Price it right

Don’t overprice, but it doesn’t mean undervaluing the property. Determine the right price and stick to it from the beginning. Get guidance from your realtor who will help to fix the right price to list your house for sale. Quote the price according to today’s market conditions.

Declutter

It’s a time to show your house in the best way possible. Though you keep the space clean, clutter may spoil the look. If the room is fully packed with the closets and cabinets it shows up the space is very small. Make sure the floor, closets, and cabinets are clean. Buyers will look at the way you maintain the kitchen so keep the space clean.

Stage your home

Staging your home elevates the space indoors, and outdoors and gives a good impression to the buyers. Hire a home stager, if you want to save the money then do it yourself(DIY).

Keep all the counters in the kitchen and bathrooms clean. Add a table in the center. Place cloth napkins, plates, glassware, and silverware, and make them presentable. Showcase your bathrooms. Don’t place too much furniture in one place, arrange it in a garage.

Curb appeal

This is very important to attract buyers. Create a pleasant look and make them feel good. Trim the bushes. Plant attractive flowers or flower pots, and paint them to give them a vibrant look.

Remove personal items

Removing personal items is quite good. Change the existing bulbs and make the space brighter. Repaint the doors or windows, and caulk the tubs to show the house in a presentable way.

Selling a home for the first time can sometimes be a daunting task because you will not have enough knowledge about it. It is very easy to make mistakes as a first-time home seller so use the above tips and go ahead.

Categories
Buy Home

How to Sell a House that Needs Work

Are you looking to sell your house that needs some repairs? but don’t have enough money to renovate? no issues, selling is still possible. Follow the below tips and find the potential buyer. Let’s get started.

Do a Thorough Cleaning

Cleaning your house will create a huge impact and convince the buyers. Remove the stains from your carpets, sinks, and drapes inside the house. You may wonder how these changes will make your home presentable, but yeah even the small changes can enhance the look of your home. 

Clean the exterior portion also. Keep your yard clean and doing basic landscaping can increase the value of your home. 

Don’t overprice your home

It doesn’t mean to undervalue your property, but don’t do the mistake of overpricing your home. 

Make small repairs

Minor repairs can increase the value of your home, first of make a list of the things that must be changed and repaired. It includes leaky faucets, broken appliances, leaks through walls, etc. Try to replace broken door and windows, and paint it with a neutral color for giving an appealing look. 

Determine who’s your potential buyer

Everyone will not be ready to buy the house with repairs so you have to find the potential customer. Some may look for old houses because the cost will be cheap, find them and sell your property. The buyer may or may not renovate the house that’s up to them.

Hire an experienced real estate agent

Hiring a professional realtor will help you sell your old house. They will help you in evaluating the home and give suggestions for repairing which must be done before marketing the property. Work with a realtor who knows the market very well.