What Happens When the Appraisal Comes In Low in Northern Virginia?
A low appraisal in Northern Virginia doesn't have to kill your deal. Here's what buyers and sellers can do when the appraisal comes in below contract price.
How Much Will You Net Selling Your Home in Northern Virginia?
Northern Virginia sellers typically pay 8–10% of their sale price in total selling costs, including real estate commissions, Virginia's grantor's tax ($0.25 per $100), the NoVA Regional Congestion Relief Fee ($0.15 per $100), and title/settlement fees. On a $700,000 home in Fairfax County or Loudoun County, that's roughly $55,000–$70,000 in total costs before your mortgage payoff. The grantor's tax and regional fee alone combine for $0.40 per $100 of the sale price — $2,800 on a $700,000 sale. Running a net sheet with your agent before you list is the only way to know what you'll actually walk away with.