It looks like you are getting lots of responses. We all love 1st timers! I have been in the Real Estate business for more than 20 years, helped many, many first timers and have even gotten responses like 'you make this so easy!". I have references on Linked in and Trulia if you want to check them out. I am surrounded by a team of great people that will help you along the way. I always kid my clients and tell them that when the process is finished, they will be able to be a Realtor too, because I am going to teach them all about it as we go!
I applaud your decision to buy. It will be life changing for you! I know and love DC and what it has to offer. Being licensed all around the Metro area, I am constantly impressed with the way DC holds its value. I have a lot of patience too!
I am available by phone or email should you want to talk more about this process. It is important that you have an agent to represent you, no matter whom you choose. I can show you the property that you have in mind and others that may fit your needs.
contact info is connievre@Yahoo.com and 202-262-7062. I look forward to talking to you and helping you with your first DC investment!!!
Connie Vanderpool, CRS, ABR, CDPE, CIPS
Are you ready to check some places out this weekend? Here are four places that you might like (http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=304 ). Let me know you availability for this weekend.
Talk to you soon,
Ericka S. Black, RealtorÂ®
Central Properties, LLC
1353 V St. NW
I specialize in 'First Time Homebuyers' in Dc. Feel free to give me a call/reply with any other citeria. We can go see the unit you have your heart set on and some others in the neighborhood for you to compare it to.
Let's talk soon.
Cell/Text | 202.409.8334
Re/Max Supreme Properties
My Profile: http://katrina.hill.remax.com/Listings/FeaturedSearch_r4.asp
Home Staging Professional
The time is great, rates are low and Real Estate is on Sale!
If you'd send me your email, I woudl gladly send you the 12 steps of home purchase as well as the 10 Deadly Mistakes buyers make and How not to over pay for the condo.
Looking Foward hearing form you
Congratulations on deciding to purchase a home. Although prices are beginning to rise on single family homes, the condo market still has enough inventory that the affordability factor is view high. What I mean by this is the combintion of lower prices and of historically low interest rates makes buying now a very wise move.
I always recommend a buyer's interview for new home purchasers. We would need to plan a strategy for your home purchase. Another very important step would be to determine your purchasing power by speaking with a lender and get you pre-approved for a loan. This will be your best arm in looking for a home.
May I suggest you visit my website: http://www.billpanici.com. Here you will find what I do for buyers and read testimonials from those with whom I have already worked. You may also contact me at (202)277-4675, or firstname.lastname@example.org.
I hope to hear from you.
Bill Panici, GRI, CRS
Sounds like you've done the hardest part, which is making the decision to buy!
Your first and second step can be interchangeable, but I recommend:
1 - interview and select a Realtor, someone you are comfortable with who is also knowledgeable. Knowledgeable doesn't always mean "experienced". I know lots of go-getter newbies who know more about their specific market than agents who have worked there for 10 years.
2 - select a lender and get approved for a loan. Your Realtor will have lenders they like to work with and you will probably be much happier with who they recommend than just going to a bank or a credit union. Credit unions are notorious for a lack of customer service when it comes to mortgages because the do not do them themselves, but outsource them. All banks basically offer the exact same costs, some just shift them around, offering a lower rate, but tacking on higher fees on the back end.
3 - pick a property to buy
4 - put in an offer. This will include a check from you for EMD (earnest money deposit) usually 1-3% of the sales price. Put up as much as you can afford, but not so much you can't pay your bills. This EMD later goes towards the purchase price. If the sale doesn't happen, and you are not in default, it comes back to you.
5 - your offer gets accepted. At this point your contingencies begin, starting with a home inspection. On a condo, it's not so important, but in DC a good inspection on a condo will run you anywhere from $350-$500 out-of-pocket at the time it is done. Next contingency will be your condo resale documents, in which the owner is required to send you a packet on the condo association's fiscal health and where the unit itself stands fiscally. If you don't like the numbers, you can stop the sale. Then there's your financing/appraisal contingencies in which you have to qualify for the financing and the condo has to appraise for at least the sale price.
6 - repair list (optional). If you do a home inspection, your agent and inspector will come up with a repair list which the owner needs to fix before you will agree to close. If there's something really wrong, you can use this as a tool for negotiation.
7 - settlement. Once all the contingencies are done and you have your financing in place, all that is left is to settle. You and your agent will meet with the seller and their agent at your chose settlement office, or other location, sign paperwork, the bank wires the money and you get the keys and move in!
The most important thing is to get pre-approval from a lender so you know what you can afford and what is comfortable. Your mortgage payment on a condo will include taxes. The condo fee will include the master insurance policy, but you should get HO6 insurance too, but that's VERY inexpensive.
Hope that helps!
Keller Williams McLean-Great Falls
I would love to help you with the home buying process and would be glad to walk you through all the steps of buying your new home. I have lenders who can provide you with a pre-approval letter and I can send you information about the property in Dupont Circle you have your eye on. My office is in Dupont Circle and I do a lot of work in that very area and would welcome the opportunity to help you in any way I can. Please contact me at email@example.com or at 202-494-0714.
Now is a great time to start look, with mortgage rates at record lows. You have a good head start since you know what you are looking for and a neighborhood. Below are some steps that need to be taken in the home buying process:
Calculate your budget
â€¢ Apply for 3:. mortgage/paperwork loan application and get a pre-approval letter from the lender
â€¢ Lender begins processing application
â€¢ Lender provides booklet of estimated closing and related costs)- GFE
â€¢ Lending institution requests an appraisal" of home, a credit report and
verification of employment and assets
â€¢ Estimate of your loan costs in form of initial Truth in Lending Disclosure Statement
â€¢ Lender evaluates the application and approves the loan
â€¢ Search begins - Sales Associate shows you multiple listings
â€¢ You find the house you want
â€¢ You make an offer, there might be a counter, there could be contingencies (financing, appraisal and home inspection are the most common), as well as selecting a settlement date and settlement company
â€¢ Lender disburses funds to closing agent and you bring a certified check or wire money, based on the HUD-1
â€¢ Sign clolling documents and loan is funded
â€¢ Appropriate documents recorded at -county recorder's office
â€¢ The home is sold and it is yours, keys in your hand as you leave the settlement office
Please feel free to reach out to me and I would be happy to assist in answering any questions and helping you find a place to call home.
How exciting to move forward! I can help you achieve your goal. Let me know what is a good time to chat.
Ericka S. Black, RealtorÂ®
Central Properties, LLC
1353 V St. NW
2. Get Pre-Approved
3. Find a house
4. Make an offer
5. Include Contingencies
6. Get accepted
7. Open Escrow
8. Pay Deposit
9. Arrange/Finalize Loan
10. Do Inspections
11. Release Contingencies
12. Do final walk-thru
13. Close Escrow, get keys
14. Work on your house
I work in and live in Dupont Circle. I would be more than happy to talk with you and help you with the home buying process. Email me or call me at your convenience. Jason@dcliving.com, 202-302-4938. I look forward to hearing from you and helping you.