BUYING A HOME
Step by step guide to buying a home
STEP 1 - Find yourself a good real estate agent.
I welcome the opportunity to being of service to you and am confident that you will find me to be a highly organized and professional agent who will treat you and your family with the utmost respect and honesty. I work hard for my clients and am available and at your service to make the home-buying process a fun and stress-free experience.
I am an Accredited Buyers Representative (ABR), which means that I have had additional training specifically designed to target the needs of the buyer and I am also a Certified Residential Specialist (CRS) which is the highest Designation awarded to sales associates in the residential sales field. The CRS Designation recognizes professional accomplishments in both experience and education. I have also earned by SRES (Senior Real Estate Specialist) Designation, having gained additional training specific to the needs of today’s seniors.
What are the Characteristics of a Good Agent?
- Good agents educate you.
- Good agents don't make decisions for you.
- Good agents tell you when they think that adding other experts (inspectors, attorneys, etc.) to your team is advisable.
- Good agents voluntarily restrict themselves geographically and by property type.
- Good agents are full-time professionals, because serving you is a full-time job.
- Good agents have time for you.
I am at your service to:
• Answer all your questions in a timely fashion.
• Notify you as soon as homes within your search criteria hit the market.
• Be available – I realize we all have busy schedules, so I will do my very best to work around your schedule.
• Be patient – I understand that buying a home is big deal and I will never pressure you to hurry up – take as little or as much time as you need.
• Assist you in putting together a good offer when you do find a home.
• Advise you throughout the entire home buying experience from contract to closing.
STEP 2 - Find Yourself a Good Lender
The 2nd step in obtaining a home is to get pre-approved by a lender. This way when you do find your dream home, you know that you can afford it. Also, when we present an offer to the seller, we will have to include a pre-approval letter with the offer, so before we start shopping, you need to be pre-approved.
It’s important to use a local lender. Local loan officers have a reputation to maintain and rely on repeat and referral business, so you can better be assured of a higher level of service. Here are the names and numbers to a couple very good local lenders FYI:
Todd Jenkins, Atlantic Bay Mortgage - 434-987-6273 - toddjenkins@atlanticbay.com
Jenna Stiltner, Atlantic Coast Mortgage - (434) 220-4304
TowneBank Mortgage (Marcella Johnson) - (434) 964-1426
Having a lender give you a price range to work with is a good way to narrow down your choices to a realistic dream home. After you have applied for a loan, your lender is required to provide you with a good faith estimate of closing costs. Usually closing costs are expressed as a percentage of a loan amount and typically run from 3-6% of your mortgage loan amount.
Once you have been pre-approved for a loan, ask your lender to email me the “pre-approval letter”. My email address is LindaWiller@remax.net. The pre-approval letter states that the lender has performed a financial background check, and has deemed you ready to purchase a home!
When you are ready to apply for a mortgage, have the following paperwork ready:
Employment history: 2 year history including names and addresses of each employer.
Automobiles owned: year, make, model and value.
Stocks, bonds, CD information: complete statements for the most recent 2 months showing account numbers and addresses
Retirement plan: approximate value of the plan and a copy of the most recent statement
Credit information: creditor names, addresses, account numbers, payment amounts, and balances for each account (including credit cards, automobiles, student loan, etc.)
Proof of income: W-2 forms for the last 2 years and pay stubs for the last 30 days
Social security number and Driver’s License.
Estimate values of your assets: personal property, furniture, boats, jewelry, antiques, etc.
Real estate owned: addresses for other real estate owned plus any rental agreements and mortgage information
Tax returns: full tax returns for the last 2 years if self-employed, employed in a family business, own rental property or have income from commission, bonuses, tips, trust income, corporate ownership, or if claiming employee expenses
Upfront Costs – You can expect to pay the following costs prior to closing on your home:
Earnest Money Deposit – A deposit of 1% of the sales price will show the Seller the seriousness of your offer. You will give RE/MAX Action Real Estate a check the day of your offer to show the seller the seriousness of your offer. Upon ratification of the contract, this check will be held in an escrow account in your name until closing, at which time it will be applied towards your closing costs.
Home Inspection ($350 - $650) – It is your right to have a home inspection and or a radon test at your cost. You will pay the home inspector at the time of service which will be within 7 to 14 days of the ratified contract.
Septic Inspection ($650 - $850) - You have the right to a septic inspection if you are purchasing a home that uses that type of waste system.
Appraisal ($450 - $600) – Most lenders will require you to pay for the appraisal upfront. The appraisal will be performed within a couple weeks of the ratified contract.
Closing Costs – Your settlement agent will provide you with a HUD Statement which breaks down all the closing costs you have incurred. Some of the fees you can expect to see as a part of your closing costs are shown here.
Down payment (% sale price)
Any HOA transfer fees (Lake Monticello has a $650 Transfer Fee)
Closing Agent or Attorney Fees ($450 - $650)
Recordation of Deed of Trust
City/county/state stamps
Postage/cashier’s check per closing agent ($40)
Prorated HOA Dues and Prorated Taxes
Any propane or fuel oil remaining will by purchased by you at the current market rate
Survey if applicable ($450 - $1500)
Homeowner’s Insurance Escrow (1 year prepaid)
Property Tax Escrow (3 months prepaid)
Title search/binder
Home Warranty (if you choose to purchase one)
Credit Report
Flood Certification
Appraisal Fee ($450 - $600)
Points and/or Origination Fee (usually a % of sales price)
Loan Interest from 1st day of month (_____ per day x _______ days)
Private Mortgage Insurance (if applicable)
Lender’s Title Insurance and Owner’s Title Insurance
Mortgage Tax ($5.50 per $1000 of loan)
Breakdown of Monthly Payments – Some of your new monthly expenses will be:
Principal and Interest on Your Loan which should include your homeowner’s insurance as well as your property taxes and mortgage insurance if you down payment is less that 20%
Association / Road Maintenance Dues, if any (HOA Fees)
If you purchased a home with public water/sewer, you can expect a water bill
Utilities – Electric, phone, cable, gas, water, etc.
STEP 3 - House Hunting.
Once I know what it is you are looking for in a home, I will enter the search criteria into the Charlottesville MLS System. As soon as a home within your search criteria hits the market, I will notify you in whatever manner you prefer. I can contact you either through email, telephone, snail mail or fax – whatever your preference.
When you see a home that you are interested in, either in the listings I send you, or in a real estate magazine, newspaper or a sign in the yard, you should call me. I will immediately gather any additional information you need on the property, and set up an appointment to show you the home. It is so much better for you to work with just one agent looking out for your best interests, rather than contacting different agents every time you see a home you have an interest in. I CAN SHOW AND SELL ANY HOUSE ON THE MARKET – WHETHER IT’S A REMAX LISTING OR A CENTURY 21 LISTING OR EVEN A FOR SALE BY OWNER – I REPRESENT YOU AND YOUR BEST INTERESTS - EVERY STEP OF THE WAY!
As a member of the Multiple Listing Service, I can show you any property on the market using a lockbox located on the front door of the property, even if no one is home.
I pride myself on providing my clients with the highest quality service. I do not believe in trying to “sell” you a home, but in trying to help you find a home that fits your needs. I am patient, professional, courteous, and will never try to rush you in such an important decision. And most of all – I am available and at your service!
Once you find a house that you like, we move on to Step 4, Making an Offer.
IMPORTANT: Your lender will pull your credit the day of closing……..it is extremely important that you do not use your credit cards during this time, and do not open any credit cards……your credit needs to be exactly the same it was when you got pre-approved. ALSO, Your lender will call your employer to verify employment the day of closing.
STEP 4 - Making an Offer and Contract
As your buyer’s agent, I will explain the contract of purchase to you thoroughly as we fill it out together. Following completion, I will promptly fax or hand-carry a copy to the seller’s agent.
At the time of the contract is written, you will provide a check or money order made out to RE/MAX Action Real Estate. The standard amount for our area is generally 1% of the sales price of the home. This “earnest money” is deposited into an escrow account in your name and held until closing day. At that time, this money is applied toward closing costs. The bigger the deposit, the more serious the buyer seems.
The offer will include the Contract to Purchase, a copy of the escrow check, all disclaimer forms, all addendums and the pre-approval letter.
• The property disclaimer states that the sellers are stating that the property is sold in an “as is” condition, stating no warranties on the condition of the property. Virtually all homes in this area are sold with this disclaimer.
• Lead-based paint disclaimer will also be provided for properties being built before 1978.
• Any inspection addendums will be chosen by the buyer and may include a home inspection or radon inspection or septic inspection.
The contract to purchase is a legal and binding document that protects both the buyer and seller. The natural focal point of a real estate purchase contract is the selling price of the home, but the price isn’t the only factor that determines the net bottom line for both the buyer and the seller. Terms are also involved.
The contract emphasizes that certain items convey with the purchase of the property including blinds, ceiling fans, curtain rods and brackets, built-in dishwasher, disposal, door knockers, garage door openers and controls, gas fireplace logs and inserts, installed floor and wall coverings, installed mirrors, light fixtures, mailbox and post, built-in range, shades, shrubs, exterior plants and trees, shutters, smoke and heat detectors, storm windows and storm doors, switch and receptacle covers, television antennae, window screens and screen doors. Technically, anything that requires a tool to remove from the seller’s home is a fixture and is a part of the purchase price unless otherwise stated in the listing agreement. Everything else is the seller’s personal property.
Stated specifically in the contract is that the sale is contingent upon the buyer obtaining a loan for the property. The buyer agrees to make written application to the lender within five business days of acceptance of the contract and diligently pursue obtaining the loan. A date is set for approximately four weeks from the date of the written contract to allow the buyer to obtain a loan commitment letter from their lender. Should the lender at any time within that four weeks decide that the buyers are not a good candidate for this loan, the seller’s agent will be notified, and a termination of contract will be enacted.
If this is a cash transaction, the contract states that the buyer will provide a sufficient funds letter from the bank within fifteen days of contract acceptance.
The contract specifically states that the buyer will pay all points, loan origination fees, charges and other costs imposed by the lender. Part of the terms of the contract may be that the seller will pay some of the closing costs. This is a point of negotiation between the buyer and seller. Other closing costs incurred by the buyer include title search, homeowner’s insurance, survey costs, recording fees, and closing agent fees. Prorated items split between the buyer and seller includes real estate taxes and homeowner’s association fees.
In the event of loss or damage of the property due to fire, windstorm, or other disaster, the buyer has the option to terminate the agreement and receive a return of the earnest money or to collect the insurance settlement on the property.
Thirty days prior to settlement, the seller at seller’s costs will provide a termite & well report, if applicable. These reports are available to the buyer at closing. The termite inspection also includes other wood-destroying insects or organisms. The seller will treat and ensure any infestation found. If a well is present on the property, the seller will provide certification that it is free from coliform bacteria.
A title search is performed by the buyer’s closing agent who will ensure the property is conveyed without encumbrances, tenancies, or liens for taxes and otherwise. Any restrictive covenants or utility easements will convey with the property. The property must convey with a recorded easement through a neighboring property, if the entrance to the property is not off a public road.
The contract of purchase states that the buyer agrees to accept the property at settlement in its condition at the time of contract acceptance. The seller signs that all appliances, heating and cooling systems, plumbing and electrical will all be in working order at the time of settlement. The seller also agrees to convey the property in “broom clean” condition. (This means that they do not have to clean the stove or refrigerator or tubs, toilets, etc. The condition the home is in at the time of contract will basically be the condition you receive the home in, except any agreed upon repairs or requests…..so if you want the carpets cleaned, you need to ask for it in the contract.
The seller will sign an affidavit at settlement that no lien will be placed on the property for any labor performed on the property during the seller’s possession and that all costs of labor and materials have been paid.
Should the property lie in a homeowner’s association or a condominium, special terms are applied. Upon contract acceptance of a condominium, the homeowner’s association will provide a resale certificate. If the property belongs to a homeowner’s association, a disclosure packet is provided to the buyer. The buyer has the right to cancel the contract of purchase within three days of receiving the package should you disagree with any terms of the information.
Sometimes the sellers or buyers need to move immediately and sometimes they are in no hurry. The closing date should accommodate both parties’ needs and is also a point of negotiation.
Finally, the contract of purchase has an acceptance time for the buyer to receive an answer to the offer. The answer could be acceptance, rejection, or counteroffer to the purchase price or any of the sale terms. Upon acceptance, the contract becomes a binding agreement and no other offers can be accepted by the seller. The function of negotiation is not to change the other person‘s mind, but rather to find a solution that meets the needs of both parties.
STEP 5 - The Ratified Contract
What Happens When the Contract is Accepted?
Without unusual circumstances, it will often take as little as 4-6 weeks to move into your new home!
• Acceptance and negotiation of contract to purchase: 1-5 days
• Home inspection and negotiation of inspection addendums: 5-14 days
• Loan approval: 3-5 weeks due to timeline of loan application, pre-approval, appraisal of home, underwriting process, and final approval by the mortgage company
• Termite & well inspections (by the seller): 30 days before closing
• Title search: usually begins 30 days before closing
• Obtain homeowner’s insurance: 30 days before closing
• Final walk-through, purchase contract contingencies cleared: 0-2 days before closing
• Closing Disclosure Distributed by the Lender: 3 days before closing
• Settlement or Closing Day: loan acceptance papers/property transfers are signed by both parties
• Possession and move-in: begins immediately following settlement or closing! Settlement is considered complete once the funds are received and all papers are signed including the Deed.
Once the terms of the contract are agreed upon by both parties, and the contract has been initialed and signed by both parties, we have a ratified contract. I will immediately get copies of the contract to your lender and your attorney and deposit the earnest money deposit in an escrow account in your name.
You have the right to a home inspection at your cost ($350 - $600 payable at the time of the inspection). If you desire a home inspection, the contract then contains a “home inspection contingency”, and the contract is then “contingent upon the home inspection.” It becomes another point of negotiation between the buyer and seller, and therefore it needs to be taken care of right away, so the contingency can be addressed and removed as soon as possible. The home inspection is for your information only and is not a requirement of the lender.
You also have the right to a radon inspection. The home inspector can perform this test for you at an additional cost of around $150 - $200. I will provide you with information on radon and discuss it with you further and will be asking you if you want the test performed when we write an offer.
You also have the right to a septic inspection. If the home has an individual septic system, then I will ask you if you wish to have a septic inspection contingency on the contract. If you desire a septic system contingency, then we will use a Septic Inspection Addendum and you can choose to pay for the septic inspection yourself or ask the seller to have the inspection done.
You are encouraged to be present during the inspection and ask questions. At the end of the inspection (2 – 3 hours) the inspector will go over his findings with you and you will have another chance to ask any questions you may have. You will be given a full inspection report shortly after the inspection.
A pre-purchase home inspection includes inspecting and testing the following items:
Exterior: siding, trim, foundation, roof, flashing, gutters, chimney, and decks
Drainage: grading, site runoff
Attic: structure, insulation, ventilation, FRT sheathing
Interior: doors, windows, outlets, floors
Baths: fixtures, tile, ventilation
Kitchen: appliances, outlets, plumbing
Basement/crawl spaces: wetness, foundation, structure
Heating: furnace, heat pump or other means of central heating and cooling
Plumbing: water heater, pipes, valves, drains, washer and dryer
Electric panel: wires, circuit breakers, corrosion, adequacy of service
The buyer can request that the seller make repairs prior to settlement, and a copy of the inspection report is included with that request. The seller, however, is under no obligation to make such repairs. If the home inspection report reveals “deficiencies” (see below for a definition of deficiencies), and the seller refuses to correct the “material defects”, the buyer has the option to accept the property in its existing condition or terminate the contract. The term “deficiencies” shall apply to those items that could affect the decision of a reasonable person to purchase the property and shall not include cosmetic items, matters of preference or grandfathered systems or features that are properly functioning but would not comply with current building codes if constructed or installed today. If a system is near, or at or beyond it’s projected life and properly functioning, such system will not be deemed a deficiency as defined herein.
According to the contract to purchase, the title clearance and well inspection passing will not exceed a total of $1,000. Should the cost surpass this amount, the seller has the option to pay for the expenses fully or pay the buyer $1,000 maximum. Should this occur, the buyer has the right to either accept the property in its present condition and accept the $1,000, or terminate the contract and receive a refund of their earnest money deposit.
Once the home inspection contingency is complete, most of the work takes place behind the scene. As your buyer’s agent, I will stay in close contact with your attorney and your lender to ensure everything is moving along as it should.
You will be working closely with your lender at this time. It is EXTREMELY IMPORTANT that you comply with all your lender requests in a timely fashion so that the lender can comply with providing the commitment letter by the due date in the contract. If you do not comply with your lender requests, you could be found to be in default of contract.
Your lender will order an appraisal, and may want payment from you at that time. This will cost around $500 (give or take).
Just prior to settlement, I will be in contact with the seller’s agent to ensure clear termite & well inspections. The seller’s agent will provide a list of utilities needing connection at closing.
It will be your responsibility to obtain homeowner’s insurance prior to closing, which is also a requirement of the lender. A homeowner's policy covers damage or injury happening in the home in addition to the coverage given for real and personal property. You will need to notify your lender of the home insurance company you will be using.
STEP 6 - Closing Day
I will advise you of the closing date, time, and place. Your settlement agent should advise you as to your settlement costs which you will need to arrange to have wired to them or bring a cashier’s check written out to the settlement company however this may delay occupancy, so wire is the best method. I will also double check that the closing agent has all the required information for settlement.
The lender must provide the buyer with a Closing Disclosure 3 days prior to closing and if any changes are made to the Closing Disclosure, another 3 days will need to be added from the date of the change. It is VERY IMPORTANT to be flexible when it comes to closing dates. We will all do our best to make the closing date, but back-up plans should always be in place in case of delays.
The settlement agent’s role ($350 - $650 and a part of closing costs) in closing your transaction involves the coordination of numerous administrative and clerical functions relating to the collection of documents and the collection and disbursement of funds required to carry out the terms of the contract between the parties. You can choose to use an attorney or a title company to act as your settlement agent……if you choose a title company, they are able to handle the paperwork, but cannot answer any legal questions that may arise, therefore it is recommended that you use an attorney and if something comes up, you already have an attorney to assist you. If this is not a cash transaction, your lender will instruct the settlement agent as to the signing and recording of loan documents and the disbursement of the loan proceeds. Most often the buyer and seller will have their own settlement agents.
The settlement agent will order a title report; ensure all parties are paid in their transaction; assist with any legal questions you might have before, during and after closing; and provide an explanation of all closing documents.
On the day of (or day prior to) settlement, we will perform a final walk-through of the property to check that the property is in the same condition as it was at the time of contract, and to be sure the previously agreed upon home inspection addendum repairs have been completed. Your settlement agent will provide you with the exact amount you need to bring to the closing table. You will need to bring a cashier’s check made payable to your settlement agent. I will also be present at the closing, during which time papers are signed and a deed is exchanged for the funds. Settlement is defined as the time when the settlement agent has received the duly executed deed, loan funds, loan documents, and other documents and funds required to carry out the terms of the contract between the parties and the settlement agent reasonably determines that recordation conditions of such contracts have been satisfied.
In Virginia, the buyer and seller do not meet around a table to sign documents together. The Buyers meets with their settlement agent and the Sellers meet with their settlement agent and sign papers separately, and it is quite probable that the buyer and seller will never even meet.
What are the benefits to owning a principal residence?
Pride of Ownership - The primary reason many people purchase homes is the feeling of pride a person gets from owning their own home and the freedom of being able to make the home their own. If you want to paint your kitchen purple or install hardwood floors, it’s your house and you have the freedom to live in the home to best suite your needs. No more landlords benefiting telling you what you can and can’t do…..it’s your house now.
Home Appreciation: Historically homes have appreciated at a rate of 6%-7% per year. Obviously there are highs and lows as the market fluctuates, but as a long term investment, you are going to be better off owning a home rather than renting.
Tax Benefits: For most people, purchasing a principle residence is the first step in allowing them to file IRS Form Schedule A, Itemized Deductions. This is because most people obtain financing and the interest paid on that financing is deductible as long as the loan amount does not exceed $1 million. The following are items that are deductible on Schedule A that relate to the purchase of a home:
Mortgage Interest: This is the yearly amount of interest paid on your mortgage loan. Your lender should report this amount to you on Form 1098.
Points: In order to buy a house, you may have to pay points to the lender in order to get your mortgage. These points can usually be deducted as a prepayment of interest. Many times these points are not reported to you on Form 1098, therefore I suggest you keep a copy of your settlement statement, aka HUD I, with your tax information.
Real Estate Taxes: You can deduct the annual taxes based on the assessed value of your property. If your lender pays the annual taxes by escrowing amounts from your monthly payments then they will report the amount paid by them on Form 1098.
Now that you are able to file Schedule A, you will also benefit from deducting the following items that were probably not deducted previously because the sum of them did not exceed your standard deduction:
Medical & Dental Expenses (amounts greater than 7.5% of your AGI)
State & Local Income Taxes, Personal Property Taxes
Gifts to Charity-Cash & Non-Cash Donations
Miscellaneous Deductions (amounts greater than 2.0% of your AGI)
Unreimbursed Employee Business Expenses
Tax Preparation Fees
Ways to Save on Homeowners Insurance
SHOP AROUND:
It'll take some time, but could save you a good sum of money. Don't consider price alone. The insurer you select should offer a fair price and deliver the quality service you would expect if you need assistance in filing a claim.
RAISE YOUR DEDUCTIBLE:
Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay a claim, according to the terms of your policy. The higher the deductible, the more money you can save on the premium.
BUY YOUR HOME AND AUTO POLICIES FROM THE SAME INSURER:
Some companies that sell homeowners, auto, and liability coverage will take 5 – 15% off the premium if you buy two or more policies.
Why Do I Need Title Insurance?
Title insurance, especially Owner’s title insurance, is extremely important when purchasing a house or piece of property. Yet many consumers are unsure about what title insurance is and what it protects against. . IT IS HIGHLY RECOMMENDED THAT YOU PURCHASE OWNERS TITLE INSURANCE FOR YOUR NEW HOME!
Types of Title Insurance
There are two types of title insurance: Lenders title insurance, also called a Loan Policy, and Owner’s title insurance. Most lenders require a Loan Policy when they issue you a loan. The Loan Policy is usually based on the dollar amount of your loan. It protects the lender’s interest in the property should a problem with the title arise. The policy amount decreases each year and eventually disappears as the loan is paid off.
Owner’s title insurance is usually issued in the amount of the real estate purchase. It is purchased for a one-time fee at closing and lasts as long as you or your heirs have an interest in the property. This may even be after the insured has sold the property. Only Owner’s title insurance fully protects the buyer should a problem arise with the title that was not uncovered during the title search. Owner’s title insurance also pays for any legal fees involved in defending a claim to your title.
How Am I Protected?
In order to issue title insurance, the title company must search public land records for matters affecting that title. Many search the “chain” of title back 60 years. One in four title searches find a title problem that is fixed before the insurance is issued. Some examples of items that can cause a problem are: deeds, wills and trusts that contain improper information; outstanding judgments or tax liens against the property; mortgage loans that have been paid off, but the payout was not properly documented, and easements. Title companies fix the problems then issue the title insurance.
Occasionally, in spite of an exhaustive title search, hidden hazards can emerge after closing. Things such as mistakes in public record, previously undisclosed heirs claiming to own the property; or forged deeds could cloud the title. Owner’s title insurance offers financial protection against these by negotiating with third-parties, and paying claims and the legal fees involved in defending the title.
I’m buying a newly built home; do I need title insurance?
Construction of a new home raises special title problems for the lender and owner. You may think you are the first owner when constructing a new home on a purchased lot. However, there were most likely many prior owners to the unimproved land. A title search will uncover any existing liens and a survey will determine the boundaries of the property being purchased. In addition, builders routinely fail to pay subcontractors and suppliers. This could result in the subcontractor or supplier placing a lien on your property. Again, lenders want to be sure the property has clear title, and they are insuring the correct property. Purchasing owner’s title insurance will protect you against these potential problems and pay for any legal fees involved in defending a claim.
Why Order a Survey?
Surveying is the science or art of making measurements to determine and/or establish the position of points above, on, or beneath the surface of the earth. IT IS HIGHLY RECOMMENDED THAT YOU ORDER A SURVEY FOR YOUR NEW HOME!
What does a survey show?
• It identifies and locates a parcel of land
• It identifies and locates the boundaries of a parcel of land
• It identifies gaps and overlaps
• It determines the exact location of buildings and structures on the land
• It determines the exact dimension of the parcel of land
• It can serve as the basis of “air rights” or “air space property”
• It determines the location of specific monuments or topographical features
• It shows access:
Does the current owner have physical or legal access?
Is it clear from the public records?
• Waterfront. Have creeks, rivers, streams, or beaches moved? Does the property extend to a lake’s high water mark?
• Setbacks. The survey will be used to determine if the structure violates any county or city setback requirements.
• Acreage. What is the total acreage? Does the acreage amount match the purchase contract? Does the purchaser think the acreage is accurate?
• Utilities. They survey will show electrical, sewer, telephone or other private or public rights of way or easements.
• Roads and Rights of Way. Private and/or public rights of way are located.
• Encroachments. Encroachments upon property and beyond property lines by fences, wall, etc., are located.
• Liability. If one relies upon an old survey without the permission of the surveyor, the surveyor cannot be held liable to the new owner for inaccuracies in the survey.
Taxes in Various Counties (Updated 8/4/21)
Albemarle County $.854 per $100 (434) 296-5856
City of Charlottesville $.95 per $100 (434) 970-3136
Greene County $.82 per $100 (434) 985-5211
Louisa County $.72 per $100 (540) 967-3432
Fluvanna County $.884 per $100 (434) 591-1940
Nelson County $.72 per $100 (434) 263-7070
Orange County $.61 per $100 (540) 672-4441
Orange (Town) $.157 per $100 (more) (540) 672-4441
Gordonsville $0.117 per $100 (more)
Madison County $.71 per $100 (540) 948-6700
***Information deemed reliable but not guaranteed.