The process for purchasing a home in Fairfax County is the same as anywhere in the Commonwealth of Virginia but different from the procedures that are used in many states. Unlike the New York, each party is not represented at closing by a attorney. Instead, a settlement company manages the transaction. The settlement company’s attorney represents the contract, and not any one party at the table. When the buyer and seller agree to a contract, the buyer will deposit money into escrow. The settlement agent will direct the transfer of escrow funds. In Northern Virginia, there are no closing meetings. It is not common for sellers and buyers to meet each other on a regular basis. If you want to buy a home in Northern Virginia, you will want to make sure you have a loan before you begin the process of looking for a home.
All real estate agents in Northern Virginia must be licensed to help people buy or sell real estate. Every agent you deal with should either have a agent or broker license. Brokers are allowed to receive payment for the sale of a property, while salespersons must work under the broker. Multiple brokers are allowed to work together. Sales agents must answer to a principal broker or a managing broker. A principal broker owns a real estate brokerage. A managing broker manages a real estate office. At Nesbitt Realty our managing broker is our principal broker.
You will also want to consult an agent to find out what type of home is best for your income level. The agent will want to know what home you’re interested in. You should always be ready to buy a home when you visit the agent. If you are truly ready, you will be given a better deal, because agents will often have to deal with people who are just “looking,” and are not committed to making a purchase. Once the agent knows what type of home you want, they will begin driving you around to show you the different homes that are available.
The agent will not want to drive you around until after they’ve interviewed you. As the buyer, you will want to make sure the agent is experienced. When you deal with agents in Fairfax County, they should put you in the loan qualification process as soon as possible. By getting approved for a loan, you will be placed in a powerful position where you can negotiate. Once you have found the home you want, you will want the agent to prepare and offer to purchase. In the Commonwealth of Virginia, the offer should always be made in writing.
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