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Home Buying in 22304 : Real Estate Advice

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  • Home Buying21
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Activity 19
Mon Jan 4, 2016
Joda_e answered:
No one seems to have replied to Springville below.

I am in the same position in that I have an incompetent broker that has already resulted in us being 3 months in to our journey and still no close.

It sickens me that after everything they have done to mess up the sale, the huge extra costs and penalties that have been run up as a result of their incompetence and everything myself and the sellers have had to sort out on our own would mean that they would get $4000!

Nowhere else is it conceivable that if you don't do your job properly you still get paid!
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0 votes 11 answers Share Flag
Wed Feb 11, 2015
Ray Baumann answered:
To say three unrelated folks scammed you might be hard to prove in court. First you lived in the condo for two years and were pleased with things and only when you became an investor and wanted to maximize your rents did you see things differently. It might be a tough case to prove, but I would talk to an attorney who works in real estate law. If nothing else you could sue and hope the Agent's brokers Errors and Omissions insurance has deep pockets and would give you an out of court settlement just to not have to deal with this and the bad PR it would bring. ... more
0 votes 1 answer Share Flag
Tue Mar 26, 2013
Adam Elkassar answered:
As Scott mentioned it depends on what type of loan you getting. Guidelines are almost the same for lenders expect the underwriter conditions that's every lender has is different all based on credit and risk factor. To answer your question, you will have to clarify something to your lender, did you have a part time job before prior to your current part time, if yes.. Was it in the same line of business? If yes ,, yes we as a lender will count that income.

Before going out house hunting, you should go to a lender and get qualified , when I say you get qualified, means take your income documents., assets statements and work with your lender on the approval. I have some lots of mortgage origination issuing approval letter based on verbal information they got from borrowers however when the loan is ready to process they can't qualify them anymore because there was something the borrower did say!

Also its recommended because sometime you may find inaccurate information on credit report that you may better off delet of your credit before applying for a mortgage. Always ask for a copy of your report to insure accuracy and to prevent any surprises.

Good luck with your house hunting.
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0 votes 2 answers Share Flag
Sun Feb 10, 2013
Robert Lepelletier answered:
And the question is . . . . . .

Robert 'Bob' Lepelletier - Broker - Associate - Keller Williams Realty bob@bobtherealtor.pro
0 votes 2 answers Share Flag
Mon Jan 21, 2013
Natalie Dean answered:
Hello Mrs. Granny,
Assuming you may or may not have received acceptable resolution to your problem, I had one additional question. Where are you in the stage of your home building project? When was the contract ratified in the builders office? I ask because although we have had an extremely mild winter here in the NE building can still be a bit slower than the in the summer and spring months. I agree with many of the other agents because there may not be anything to report. I have worked with clients on new home projects that delivered in 4 to 6 months and many that have taken over a years time. Often time until the builder gets to your specific dwelling it remains a pile of dirt. The client will drive through the neighborhood almost every two weeks because of their level of excitement but an agent will most times check in with the builder about every 3 weeks to see how progress is going. Unfortunately because of your location you don't have the luxury of seeing whether there is actual building or not, so you are relying heavily on the agent to be your eyes and ears. It may simply be that a phone call to the agent to let them know that you are unhappy with their lack of communication could do the trick.

I do hope you get a firm resolution. I would exhaust the efforts of communicating with the agent and the broker and making documentation of such. In that regard you have a track record of all of your attempts especially if they don't end in success. In the end the buyers broker has the right to demand their commission, however it could disputed if you haven't received the services you were fully entitled to in the buyer broker agreement. If you need anything else please do not hesitate to contact me. All the best!
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0 votes 10 answers Share Flag
Sat Jan 12, 2013
Will Nesbitt answered:
I have a map of new housing developments in Northern Virginia on our website.
0 votes 6 answers Share Flag
Sat Oct 20, 2012
Delaine Campbell answered:
I think you should really be asking yourself, "how can I find a property to purchase that is a good deal and on which I may be able to make some money?" You are focused on tax liens, delinquent taxes, when that really may not be the focus. Around here, there are a few, but not many. If you are looking to get into the real estate ownership as an investor, I'd be happy to discuss it with you. Write to me at delaine@delainesoldtown.com ... more
0 votes 3 answers Share Flag
Fri Jul 6, 2012
Nicky McDonnell answered:
Hi Colleen,
What is your price range and what size condo are you looking for? Is there any other criteria that is important to you? There are several options and I would be happy to pass them along. I work in the historic district in Old Town and Alexandria City is my area of expertise. Please contact me at your convenience at 703-201-3318 or email me at nicky@cbmove.com.
Sincerely,
Nicky McDonnell

www.nickyshomes.com
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0 votes 4 answers Share Flag
Thu Mar 29, 2012
Will Nesbitt answered:
It is possible that it was listed all along and that you did not know it was listed. It is also possible that the seller decided to have a Realtor handle the transaction after the sale was contracted. You may need a Realtor or an attorney check over your documents to answer your specific situation. ... more
0 votes 9 answers Share Flag
Sun Mar 4, 2012
Judi Gray answered:
0 votes 8 answers Share Flag
Sun Mar 4, 2012
Will Nesbitt answered:
Termites are no threat to concrete and steel structures or condos more than 3 stories tall.
0 votes 9 answers Share Flag
Thu Apr 28, 2011
Romie Oplinger answered:
You can't purchase a short sale through the bank. Someone still owns the property and they have to deal with the bank. You deal with the actual owners who in turn have to get bank approval for everything. ... more
0 votes 6 answers Share Flag
Wed Jan 6, 2010
Ashley Conyers answered:
Rent to own can be a complicated transaction, one in which you should seek the help of a realtor. The majority of Rent-to-own transactions allot a certain amount of money that you pay for rent to be credited towards the down-payment or purchase price of the home. Again, each rent to own transaction is different and customized, and should be read carefully!

Typically a cetain amount of the rent you pay is credited towards the purchase, and you have a certain time frame to get finanicing for the balance of the home price.

Many people choose rent to own b/c they are uncertain about buying at moment, and at the same time they want to see their rent being put to good use. (just in case they decide to buy the property)
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0 votes 5 answers Share Flag
Fri Nov 13, 2009
Nicky McDonnell answered:
Dear Thaddeus,
I reiterate what the other realtors have said in regard to neighborhoods. Due to fair housing we need to be very careful about what we say!! There are many ways for you to examine the demographics of properties that you are inquiriing about and I can certainly share with you numerous online options for this!

Also as far as your house hunting....are you interested in Alexandria South/Route 1 due to your job location? There are many other areas and neighborhoods very closeby that are also worth exploring. Alexandria Postal City is a very large area and each neighborhood offers different things. With that being said, Alexandria South is my area of expertise (and also where I live) so I would be happy to discuss your options!! Don't hesitate to contact me with further questions!
Sincerely,
Nicky McDonnell
nicky@cbmove.com
7030201-3318
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0 votes 5 answers Share Flag
Tue Aug 18, 2009
Chris Bellanca answered:
Price per square foot increases with the quality of the property and its location (ie closer to the Potomac = higher $/sf. Prices for condos in Alexandria City range from mid $100's to $600/sf., quite a range. Kitchen, bathroom and flooring upgrades are some examples which increase the price per square foot. This number is a tool in assisting with valuation, but the most important valuation comparison to make is with comparable sales. Generally, comparable sales need to occur in the past 6 months, but appraisers are using the past 30-90 days in the current market. ... more
0 votes 6 answers Share Flag
Wed Jul 29, 2009
Rachel Carter answered:
If you feel uneasy about the contract and the settlement, hire a good real estate attorney. He or she will be able to represent you and will know the contract at settlement. I know a number of good ones that you could use. Please feel free to contact me if you would like some names in northern Va.

Good luck!
Rachel Carter, ESRES, AREP
Coldwell Banker
rcarter@cbmove.com
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0 votes 7 answers Share Flag
Tue Jul 14, 2009
Fred Wolfe answered:
The purpose of the agreement is to tie the two of you together until you make a purchase together. If the agreement is for a longer period of time than it takes to procure a home together there is no reason any ethical agent would keep you bound in the event you wanted to purchase another home using another agent. If they are obstinate, make their job miserable or just send a letter to their broker telling them of your desore to curtail the relationship. No broker is going to want the expense of a lawsuit torecover a commission that their agent was not the procuring cause of. On the other hand, if you planned from the beginning to purchase more than one property with this agent, then you are ethically bound to perform. You can wait until 30/60 days after (whatever your contract says) your contract expires to buy and not be obligated to them. Upon expiration your agent should deliver a list of all the properties he/she made known to you. ... more
0 votes 3 answers Share Flag
Wed Oct 17, 2007
Dave Casbon answered:
Yes you could but why would you? You need the information you can get when you receive a seller's response. If you felt like your first offer was a poor one, your second one won't be any better unless you wait to see how the seller responds. ... more
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