Hello, I would be happy to assist. Is there anything in particular you are looking to find in a buyers agent? Different Realtors have different business styles, I would be happy to answer any questions you might have to determine if I would be a good fit. Feel free to send me a message or give me a call.... more
First of all, there are too many unknowns here, and we cannot really help you without reviewing the contract. And no offense, but it doesn't sound like your problem. I know you're wanting to help, but getting information 2nd or 3rd hand really isn't helping the situation. Just makes things more confusing. Your neighbor's daughter needs to review her purchase agreement, and probably get an attorney involved to see what's what.
Second, the buyer doesn't pay the realtor a commission, the seller usually does. If the deal doesn't happen, he doesn't get paid. Period.
Third...the buyer doesn't HAVE to buy. If she can't afford it, then it's easy to back out of the contract over loan conditions. (if she doesn't have down payment $$ she likely can't qualify for a loan).
But again...this sounds like third hand info, and it's hard to give you good advice when all the facts aren't available.... more
Call a couple local lenders and speak to a loan officer. You should have done this already, it is step #1 to buying a home. Ask the loan officer if the condo is approved or not, if they do VA loans they will know. You should also contact USAA since they do more VA loans than anyone else and ask them too.... more
Hello Donna . While there has not been any formal announcement from the real estate industry or your local news, buyers that are currently looking for homes are experiencing it first hand. We are seeing multiple offers now on virtually any property that is in "good condition". Supply is getting low and demand is getting high. I just put a home on the short sale on the market 2 days ago and I have received 7 offers. One realtor had a blank contract with her on their showing and wrote the contract at my clients dining room table. It's getting very competitive now. Now is the time to buy! Good question. Call me if you need further assistance.... more
I have not been to an open house since about Aug of last year and it was maybe 3-5 years before that since I was at the last one. Thankfully we don't have many here since the agents mostly feel they don't do much. That's just my market, others are different.... more
Chris, I think Silver Spring, specifically the Wheaton and Glenmont Metro areas, presents the best conditions for rental investment right now. It won't be easy to find something under $150K, but I assure you the opportunities are there.
North Silver Spring, including Leisure World, is a great option. For example, I just sold a unit in Leisure World with a tenant already in place for $95,000. The Condo fee, taxes & insurance came out to $770/month and the rental income was $1,500/month. with around $700 clear you have room for property management and a mortgage if you needed either.
There are also some townhouses and condos in the area that present similar opportunities.... more
The market as a whole is experiencing a shortage of inventory. Northern VA is a vast market so you would have to be more specific in terms of what Northern VA market your trying to compare. In the 20903 and 20901 zip codes you will find affordable homes in that price range but there is absolutly a diversity in price in the 20901 and 20903 zipcodes. As for the "nice neighborhood" you will have to check the local statistics as to whether you consider the area nice.
If you're interested in viewing homes in the area feel free to give me a call at 240-723-1822 or email at firstname.lastname@example.org... more
I would say the main consideration is whether or not you think the payment on the 15 year loan would ever be unbearable. If your income should ever take a hit, would you have enough savings to whether the storm? If you think your finances would be comfortable/balanced regardless, go with the 15 year.... more
Generally speaking, insurance companies don't like to insure the same thing twice, for two different parties. That said, I'm not sure if there is additional coverage in Renter's Insurance that goes above and beyond the typical coverage.
Your question would be best answered as an email to your insurance agent - you should be adding a "landlord" type rider to your own policy anyway.... more