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22044 : Real Estate Advice

  • All15
  • Local Info1
  • Home Buying7
  • Home Selling1
  • Market Conditions2

Activity 15
Sat Mar 11, 2017
Deversdonald asked:
Fri Feb 20, 2015
Anna M Brocco answered:
Be aware that some rentals may be scams, therefore be cautious; be mindful that such web sites are third party sites, so the information is fed by various sources, therefore data is not really verified. If you choose not to work with an agent of your own always verify ownership before exchanging any money/personal information--make certain they are who they claim to be. Never wire any money, if it sounds too good to be true, it is. For scam related information see link.
http://www.consumer.ftc.gov/articles/0079-rental-listing-scams
... more
0 votes 1 answer Share Flag
Mon Jun 10, 2013
tlon2010 answered:
Thank you, all. One other question. The sellers are willing to finance some of the purchase. Are there any programs where we could finance 15%-20% with the sellers holding the second? ... more
0 votes 7 answers Share Flag
Tue Jul 26, 2011
Gerard Carney answered:
Then fine at least pay the Realtor for the time used to do the CMA
0 votes 9 answers Share Flag
Tue Jul 12, 2011
Carlos Caraballo answered:
Hello Deborah:

If you are asking about Falls Church, VA you can find that information in here :
http://www.fallschurchva.gov/Content/Government/Departments/EnvironmentalServices/WaterSewerHydrants.aspx?&cnlid=944

Carlos Caraballo
Realtor
VA-MD
202-679-0006
... more
0 votes 2 answers Share Flag
Fri Dec 24, 2010
Susan Isaacs answered:
Interview a number of brokers in order to find one that fits your needs and style. Some questions to ask:
1. Do they provide leads? If so, how are they generated and distributed among agents? What's the average number of leads coming into the brokerage monthly?
2. Do they have a strong Internet presence to drive traffic to the brokerage? What promotional coverage will you be given without charge as an agent? Are there required costs for agent advertising?
3. What is the average commission split for new agents? Does it automatically increase or increase by negotiation? Get details.
4. Do they have successful teams that are taking on new agents? If so, can you interview with team leaders prior to joining the brokerage?
5. Does the brokerage provide free training and ongoing education or will it be your responsibility?
6. Is there adequate office space available for you if you decide to work at the office? Will you have a dedicated phone number?
7. Are there costs for office materials, admin fees and/or assistant fees?
8. How accessible is the broker for answers to questions, transaction opinions/review?
9. Does the broker sit on any boards or commissions?

Ask for a blank copy of the Independent Contractor Agreement agents sign with the brokerage (each broker has their own version) to take home and study. A couple of the many considerations:
• What happens to pending transactions and commissions if you leave the brokerage? Does the commission reduce? If so, by what percentage?
• What are you required to pay for and what duties does the agreement specify are required of you? If you have any concerns about the agreement, or don't understand it fully, have a real estate attorney review it for you prior to signing.

Some brokerages require additional investment in the form of brokerage-required courses and materials. You may also be required to perform "desk duty" and to attend meetings. Ask about this and make sure you can comply. Ask if any of the costs are negotiable.

Each brokerage has its own style and way of doing business--with clients and its agents. Get to know the differences before choosing a brokerage.

Commission splits are negotiable before you sign an agreement with the broker. The best "splits" are given to agents the broker feels will bring in the most business to the agency. If you have a big rolodex, play up that fact during your interview.

Good luck!
... more
0 votes 7 answers Share Flag
Thu Jul 8, 2010
Susan Isaacs answered:
Lots of things can happen in a real estate transaction, just as in life, and people can be unpredictable, but this is not a typical occurrence. Go into your transaction with a positive attitude and try to focus on the steps and not the 'what ifs'. That's your agents' job! ... more
1 vote 10 answers Share Flag
Mon Mar 22, 2010
Vivianne Rutkowski answered:
Reman,

Clearly you could benefit from a good buyer agent - hopefully, one who is also an ABR, Accredited Buyer Representative.
ABR agent would prepare a CMA for the property and show you were the numbers came from.
Contact me, if you need assistance. I would be happy to prepare a CMA for you.
... more
0 votes 5 answers Share Flag
Fri Mar 19, 2010
Lori Jeltema answered:
Reman,

Most likely, the seller is tied to this offer unless the buyer does something to cause the deal to go south. I would keep my back up in there but look for something else in the mean time.

If you hire a Realtor to help at this point, remember to inform them that you have an outstanding offer so they can protect you with the proper verbage should you make another offer on a different property.
... more
0 votes 10 answers Share Flag
Mon Mar 15, 2010
Pauline Arredondo answered:
Sammie,

Remember your agent is working for you. He/She should be listening to what it is you want in a home. Make it clear that you will not look at any more single family homes. If he/she continues to push single family homes then it is time to find yourself a new agent.

Good Luck,

Pauline Arredondo
Long & Foster Real Estate
Falls Church
703-531-3313
pauline.arredondo@longandfoster.com
... more
0 votes 7 answers Share Flag
Sun Mar 14, 2010
Mary Margaret Gates answered:
Chances are good that the first buyer has a lender pre-approval. Most agents have their buyers talk to a lender as one of the very first steps in the buying process, ensuring that they can qualify for a loan for the home of their dreams. The reason is practical: it makes no sense to fall in love with a house you can't afford. Most agents will then write a contract with a 21 day financing contingency to give the lender time to process the paperwork. So, the financing process is actually started before a contract is written just to avoid the heartache of a contract falling out because of failing to qualify. Without the pre-approval, however, all bets on the contract going through are off. This is probably what you are hoping will happen.

As others have said (and I said in my previous post to your previous question), the highest amount of money does not always win the contract. It is a total package of financing, terms, contingencies, and timing.

Best wishes to you.
... more
0 votes 3 answers Share Flag
Fri Feb 20, 2009
Matthew Tetloff answered:
There are a lot of options out there for first time home buyers. There still is 100% financing under USDA loans, and 96.5% under FHA. Conventional loans vary by state and county considering the market. I would not wait with the rates as low as they are now. I would look for a foreclosed home either bank owned or HUD owned. There are a lot of concessions available right now with the market the way it has been. Try to find a realtor in your area that works with foreclosed homes...especially HUD owned. HUD offers bigger concessions and you would probably be out of pocket just a little. Either way there are some awesome deals out there and you should ook into tking agvantage of them. Good Luck and I wish you the best! ... more
0 votes 6 answers Share Flag
Wed Feb 18, 2009
answered:
Hey Sammie,
I would get a referral from your MD guy for someone who can handle the VA side. That way everyone has full disclosure and you won't have two agents competing against one another. Things can get dirty when that happens and you don't want to get caught in the middle ... more
0 votes 8 answers Share Flag
Wed Jun 18, 2008
AJ Heidmann answered:
If the property management company / property manager is licensed in Virginia, you can look them up on the Department of Professional and Occupational Regulation (DPOR) website at www.dpor.virginia.gov , and click on License Lookup on the left hand side. The Real Estate Board falls under this departments jurisdiction.

AJ Heidmann, ABR, CRS, e-PRO
Coldwell Banker Residential Brokerage, Old Town Alexandria
"Serving Distinctive Clients & Properties in Northern Virginia"

Hope that this helps,
... more
0 votes 2 answers Share Flag
Tue Jun 19, 2007
Barry Allbright answered:
Anne,

The property sold for $340,000 with no closing costs. Closing date was May 17th. Let me know if you have further questions.
0 votes 1 answer Share Flag
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