Buy a Northern VA Home Below Market Value

Many of you likely know I used to professionally flip homes before I was in real estate. I love buying houses below market value. In fact, many of you ask me about this. How can you buy a house below market value? 

There are many ways to find a home below market value: short sales, distressed sales, bank-owned properties, for sale by owner, or even listed on Craigslist. A real estate professional can help you find a home below the market as well.

Do not ever include home sale
contingencies in your offer.

It is incredibly important to have your finances ready. Do not, under any circumstances, include home sale contingencies. If you have an FHA loan, federal subsidized loan, home sale contingency, your closing is 90 days out, or you want 15 days for the home inspection, I guarantee you won’t be able to purchase the home below market value.

If you want to buy the house below market value, get your home sold and go into a temporary rental if necessary. Ideally, you would qualify to purchase the home without selling your current one. That way, you can take your time searching for the next home.

Remember, it can take a long time to find a house below market rate. If you go in the MLS, it gets competitive. If your offer isn’t polished, someone will snatch up that property. Use conventional financing, or, if you’re lucky, cash.

If you have any questions, give me a call or send me an email. I would be happy to help you!