Are you a serious buyer in Northern Virginia?
If you want to buy a house, condo or townhouse under 1 million in Northern Virginia, the following things need to happen first:
- Have an intrepid full time Realtor ready to hit the ground running.
- Have your loan completely underwritten by a local, reputable lender.
- Be ready to look the moment a house is listed, don’t wait for the open house.
- Have 20% down PLUS extra cash reserves in the event of a low appraisal, be prepared to waive that contingency.
- Be prepared to waive inspections or get a quick pre-offer inspection.
- Know how much OVER list you’re willing to pay to beat out all the other buyers.
- Forget about comps, they’re being toppled.
- Forget about home sale contingencies.
- Be ready to close in two weeks or two months, whatever the seller needs.
- This is not just happening in Arlington, all suburbs are seeing these extreme conditions.
Sellers, if you’re thinking of selling, do it asap before these favorable conditions change as markets can change fast!