Home Buying in Reston : Real Estate Advice

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The Spear Re…, Real Estate Pro in Ashburn, VA
The Spear Realty Group answered:
Are there any duplexes in Reston?
Dear Doug, In the true sense of a duplex like you have in MD and other parts of the Northeast; no. We have no duplexes in Reston. We do have duplexes in Arlington, Alexandria, Herndon, ... more
0 votes Share Flag Thu Mar 21, 2013 Home Buying in 20191
Holly Weathe…, Real Estate Pro in Fairfax, VA
Holly Weatherwax answered:
why I have to bring cashier check to the settlement plus personnel check?
The Cashiers check is made out in the amount shown on the HUD-1 that you have reviewed prior to settlement. There are sometimes valid adjustments made at settlement. For instance, what ... more
0 votes Share Flag Fri Jul 13, 2012 Home Buying in Reston
Misty Mount, Real Estate Pro in Yorktown, VA
Misty Mount answered:
Why the lender is hesitant to put my wife "home maker" with good credit score?
Most likely because she has no income right now. Even with a good score, they can't lend money to someone who doesn't have the means to pay it back. But since you're the primary and y ... more
0 votes Share Flag Sat Jul 7, 2012 Home Buying in 20191
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
Why lender can not give me the exact closing cost?
$250 for a survey is from 1990. Not sure where you saw that but I have not seen a survey that low in years and years. Call some surveyors and ask how much one is and then you will know, ... more
0 votes Share Flag Sun Jul 8, 2012 Home Buying in 20191
Anil Khanna…, Real Estate Pro in CHANTILLY, VA
Anil Khanna CPA/Realtor answered:
Purchasing a second home while renting my first home
Call me if you like to discuss. Your best bet is to ask a lender to prequalify you. Once you file Schedule E next year, you will have more documentation to provide to your lender. My nu ... more
0 votes Share Flag Sat Jul 7, 2012 Home Buying in 20190
Don Tepper, Real Estate Pro in Burke, VA
Don Tepper answered:
Is this a good time to buy an investment condo in Reston, VA: will hold on to it for 5 years?
The answer is a definite "maybe."

Sorry about that.

I probably wouldn't do that. I was involved in some condos in Reston a few years ago, and I'm not too optim ... more
0 votes Share Flag Tue Aug 23, 2016 Home Buying in 20194
Dan Tabit, Real Estate Pro in Issaquah, WA
Dan Tabit answered:
I am single, but living with my boyfriend. I want to buy a house and have him pay rent, but was wondering if I could somehow include his salery on
Frodo,
If you use his income, he will be on title and the loan. The only way to use rental income is to have a signed lease and a history. Talk to your lender to discuss this. They ... more
0 votes Share Flag Thu Feb 10, 2011 Home Buying in Reston
Cindy Jones, Real Estate Pro in Alexandira, VA
Cindy Jones answered:
What is the difference between square footage total finished and tax living area? Looking at condos in Reston, VA and I noticed different numbers.
Don't even try to use the square footage numbers in the MLS or tax records as a gauge for buying a condo or home. There are lots of inaccuracies in both sets of numbers. Total sq ... more
0 votes Share Flag Mon Dec 20, 2010 Home Buying in Reston
Young Choi,  in Fairfax County, VA
Young Choi answered:
RE: offer price for a short sale or REO [Reston VA Nov-2010]
Hello Susan,

There is no set of rule. It depends on the property and price. If there is no other offer then we can negotiate for offer. If there are multiple offers then you might ... more
0 votes Share Flag Fri Nov 26, 2010 Home Buying in Reston
Lauryn Eadie, Real Estate Pro in Reston, VA
Lauryn Eadie answered:
Can lender charge 30 days of daily interest regardless of the day you close (UPDATED)?
Aguiasia,

Mortgage loans are paid in arrears, this means that when you make your January 1st payment you are actually paying your principal and interest for December. This is why th ... more
0 votes Share Flag Wed Nov 17, 2010 Home Buying in 20191
Jay Hurst, Real Estate Pro in Washington, DC
Jay Hurst answered:
Can lender charge 30 days of daily interest regardless of the day you close?
Differant lenders can have differant policies. Is this interest or escrow?
There is a restriction on just how much they can esrow, but I am pretty sure 30 days or less falls under tha ... more
0 votes Share Flag Tue Nov 16, 2010 Home Buying in 20191
Cindy Jones, Real Estate Pro in Alexandira, VA
Cindy Jones answered:
I am looking for a condo In Reston. How do I learn the percentage of units being rented out in a community? that usually affects property values.
The association management company will have that information. Usually your lender requires the completion of a condo questionaire to see not only how many units are owner occupied but ... more
0 votes Share Flag Mon Nov 1, 2010 Home Buying in Reston
Lyn Villanue…, Real Estate Pro in Fairfax, VA
Lyn Villanueva answered:
I am supposed to close Monday on a short sale I have been trying to purchase for the last 5 months. Originally the closing date was October 20th,
It appears that the settlement will take place. Sooner than later. Most short sale may take longer. Glad to hear that your date got moved up sooner.
0 votes Share Flag Tue Sep 21, 2010 Home Buying in 20190
Jennifer Riv…, Real Estate Pro in Fort Belvoir, VA
Jennifer Rivera answered:
Do you know of any new construction? Looking to move the late part of 2011 and I want only topurchase a New Townhouse.
Yes, I would be happy to send you information on new townhome communities. Please contact me with the specifics, and will get the info to you ASAP.
Thanks,
Jennifer Rivera
Move4 Fre ... more
0 votes Share Flag Wed Apr 21, 2010 Home Buying in Reston
Andy Krumholz, Real Estate Pro in Reston, VA
Andy Krumholz answered:
1031 exchange - Sale of land in W.VA to a condo/TH in reston VA
Hi Ram,

This can be done. Here's an example:

2 Bd/1 bath Condo in the Savoy at Twon Center
Price: 280k
less 80 down payment
Mortgage of 200k
Principle & Interest ... more
0 votes Share Flag Wed Apr 7, 2010 Home Buying in Reston
Eve Thompson, Real Estate Pro in Reston, VA
Eve Thompson answered:
Is it typical for a realtor in Virginia to ask the buyer to guarantee a 2.5% commission plus add'l $300?
All commission is always negotiable. Buyer's Agent Commission is posted in the Multiple Listing System--in our area MRIS, and is determined by the Listing Agreement. Your Buyer Broker ... more
0 votes Share Flag Sat Jan 23, 2010 Home Buying in Reston
Eve Thompson, Real Estate Pro in Reston, VA
Eve Thompson answered:
What happens when you get a ratified contract and then your bank does not meet the set closing date? Will the?
I'm sure your agent will ask you and the sellers to sign an addendum that adjusts the settlement date so that you won't be in default.

Eve Thompson
703-582-6475
Long and Foster
0 votes Share Flag Sat Jun 20, 2009 Home Buying in Reston
Sonal Goda, Real Estate Pro in Reston, VA
Sonal Goda answered:
If I switch financing options, will this affect the offer that I submitted to the seller? I am buying a short
Hi - if you are changing the type of financing - conv to FHA or VA, lowering the amount of downpayment, changing from an adjustable rate to a fixed rate - these are things that the sell ... more
0 votes Share Flag Mon Jun 22, 2009 Home Buying in Reston
Lindsey M. B…,  in Ohio
Lindsey M. Bishop answered:
Can you switch financing options after submitting an offer if there is no ratified contract yet? My real
You should have the option to go where you want, you are correct. Sadly, I have seen some cases where the bank selling the home requires the buyer in the purchase contract to go through ... more
0 votes Share Flag Thu Sep 22, 2011 Home Buying in Reston
Vicky Chrisn…, Real Estate Pro in Purcellvile, VA
Vicky Chrisner answered:
What are benefits of owner financing?
Depends on what you mean exactly.

My dad bought his second home with seller financing because his credit was terrible and he needed someone who was willing to look him in the eye a ... more
0 votes Share Flag Sat Apr 18, 2009 Home Buying in Reston
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