Home Buying in 20007 : Questions & Answers

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Miekeba Jones, Real Estate Pro in 20903
Miekeba Jones answered:
How much should an inspection of a typical family home cost?
Inspection costs vary between a few hundred and a thousand. How many square ft?
0 votes Share Flag Tue Apr 23, 2013 Home Buying in Washington
Debra (Debbi…, Real Estate Pro in Livingston, NJ
Debra (Debbie) Rose answered:
My partner and I are looking to buy a home in Washington DC, but my FICO score is much lower than his (590 to his 780). Could we qualify for a home?
Your score will hurt, not help the situation.

He could qualify on his own if his income is high enough.

Speak with a loan officer for specific advice on how to get your score up, ... more
0 votes Share Flag Sun Dec 15, 2013 Home Buying in 20001
Brent Mendel…, Real Estate Pro in Bethesda, MD
Brent Mendelson answered:
When should you start house hunting in order to move in this Fall?
There's not set answer but you don't want to be rushed so 3-4 months ahead of time would be my answer. At least to talk to a lender and get the loan part sorted out first. If you KNOW t ... more
0 votes Share Flag Sat Apr 6, 2013 Home Buying in Washington
Metro DC Hou…, Real Estate Pro in 20036
Metro DC Houses Team answered:
My realtor is asking flat fee of one percent of the offer price ( 250000) which is $2500. Is it normal ?
That is very low compared to many commissions being paid. My confusion on the question is why you are just now negotiating commission if you already have an offer? Did you not have a ... more
0 votes Share Flag Tue Apr 2, 2013 Home Buying in Southwest Employment Area
Tony Taylor, Real Estate Pro in District of Columbia
Tony Taylor answered:
rentable co-ops?? Is it possible?
Renting a Co-Op varies per cooperative and is normally addressed in the bylaws. Most co-ops prefer owner occupants. We can always take with the co-op for this particular property if you ... more
0 votes Share Flag Fri Feb 28, 2014 Home Buying in Southwest / Waterfront
Troy Patters…, Real Estate Pro in District of Columbia
Troy Patterson answered:
Hello I want to know if any agents/lending finance companies offer rent to own programs in Washington, DC?
Rent to own is generally on a case by case basis and typically in markets where the seller cannot get a great asking price for his/her property. That means they are few and far between ... more
0 votes Share Flag Wed Mar 27, 2013 Home Buying in Washington
Lanre Folayan…, Real Estate Pro in District of Columbia
Lanre Folayan 202-378-0283 answered:
I have a 1 bedroom 1 bathroom condo. I am thinking about putting a walk in shower in place of the tub.
Where is this condo at in DC?
0 votes Share Flag Mon Apr 15, 2013 Home Buying in 20015
Rodwell Smith, Real Estate Pro in Washington, DC
Rodwell Smith answered:
What is the square feet construction cost to built a church?
Square feet construction cost are determined by your designed requirements and the location of your site. An Architect will be able to get into the details with you if you have already ... more
0 votes Share Flag Sun Mar 24, 2013 Home Buying in Washington
Maureen Dwyer, Real Estate Pro in 20165
Maureen Dwyer answered:
Up and coming Neighborhoods - The Path of Progress
Hi Joshua, You've left some important facts out of your question such as your investment ability, construction ability just to start on they list. There's still some juice left in some ... more
0 votes Share Flag Sun Dec 22, 2013 Home Buying in Washington
Jason Skipwo…, Real Estate Pro in Washington, DC
Jason Skipworth answered:
Would it be possible for me to buy a condo as a recent college graduate moving to the DC area?
Aliyyah,

As long as you qualify for a mortgage you should be able to buy a property. Given the upper budget parameter you would probably be able to buy in the outer areas of DC. Yo ... more
0 votes Share Flag Wed Mar 27, 2013 Home Buying in Washington
Adriano Gomes, Real Estate Pro in Washington, DC
Adriano Gomes answered:
what is condo fee?
Is a monthly fee you pay to the building's association. Typically the amount to be paid is determined by the size of your unit. The money is used to cover projected expenses for the bui ... more
0 votes Share Flag Fri Mar 22, 2013 Home Buying in Dupont Circle
Alyssa Hellm…, Real Estate Pro in Arlington, VA
Alyssa Hellman answered:
Interested in high rises in Foggy Bottom--former Watergate, Ritz, etc. What does the condo/coop fee include and is it paid monthly?
Hi JAF,

Condo fees in these buildings vary widely. Generally, condo fees in Foggy Bottom can vary from $300-$1,800+. The higher fees generally include the buildings with more ameniti ... more
0 votes Share Flag Fri Feb 28, 2014 Home Buying in 20037
Lanre Folayan…, Real Estate Pro in District of Columbia
Lanre Folayan 202-378-0283 answered:
Real Estate License
To be honest with you,Long and Foster has one of the best real estate courses in the area. In fact that's where I did my prelicense courses. But once you pass the class please talk to m ... more
0 votes Share Flag Sun Mar 17, 2013 Home Buying in Washington
Miekeba Jones, Real Estate Pro in 20903
Miekeba Jones answered:
What are the advantages/disadvantages of a coop?
Hi Cathy! Generally co-ops have a board that may have a say in decisions of who new occupants will be among other things involving residents.
0 votes Share Flag Mon Feb 25, 2013 Home Buying in Cardozo / Shaw
Miekeba Jones, Real Estate Pro in 20903
Miekeba Jones answered:
Good Morning. What is the minimum amount that you can finance with a FHA loan?
Hi Fungirl, consult a mortgage lender
0 votes Share Flag Sat Feb 23, 2013 Home Buying in Marshall Heights
Jason Skipwo…, Real Estate Pro in Washington, DC
Jason Skipworth answered:
How do FHA loans work?
Hi Ashley,

Most any home is eligible for an FHA loan as long as it is in livable condition. But there are several FHA loan products you could use depending on the home's condition. ... more
0 votes Share Flag Sat Jun 15, 2013 Home Buying in Washington
Miekeba Jones, Real Estate Pro in 20903
Miekeba Jones answered:
How is PMI determined on an FHA loan? Is it a percentage of the loan price?
Hi dbrownofdc, yes consult a mortgage lender.
0 votes Share Flag Mon Feb 11, 2013 Home Buying in Washington
Maureen Dwyer, Real Estate Pro in 20165
Maureen Dwyer answered:
What is low-balling? What percentage of the asking price is considered low-balling? Is low-balling offensive or disrespectful to the seller?
Low-balling is an offer that makes no economic sense to the seller. The purpose of an offer is to enter into negotiations or a conversation with the seller. If your offer isn't even ack ... more
0 votes Share Flag Sun Feb 10, 2013 Home Buying in Washington
Alain Picard, Real Estate Pro in Puyallup, WA
Alain Picard answered:
If I write a check for earnest money to my agent's agency and decide not to go forward with the purchase, will the money be returned to me?
If you already wrote up an offer and it has been accepted by the buyer then I would talk to your agent and see if you can walk away at this point without losing your earnest money.
0 votes Share Flag Sun Feb 10, 2013 Home Buying in Washington
Lanre Folayan…, Real Estate Pro in District of Columbia
Lanre Folayan 202-378-0283 answered:
When do sellers typically lower asking prices?
Just because a house hasnt sold doesnt necessarily mean the price. Though Price is the main reasons why many houses dont sell,its not the only reason. It can be due to lack of PRESENTAT ... more
0 votes Share Flag Wed Feb 20, 2013 Home Buying in Washington
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