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20148 : Real Estate Advice

  • All54
  • Local Info2
  • Home Buying35
  • Home Selling7
  • Market Conditions2

Activity 131
Sat Jan 12, 2013
Julie Gray-Roller answered:
I assume you plan to purchase another property when you cash out? Since this is an investment property and is fully paid that is for you can take out as much as you wish. The condominium association isn't have any say on your decision.

You can look at your position the same as a situation wherein you bought the property for cash. No mortgage, no lender, no approval required by a financial institution or the condo association finance committee.

The decision is yours to make and act upon.

Please contact me if you are looking for an experienced agent to manage the rental of your property and/or to help you locate another investment property.

Regards,

Julie Gray-Roller
Long and Foster Realtors
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0 votes 1 answer Share Flag
Sat Jan 12, 2013
Sonal Goda answered:
Hi JD - you can call the condo association and ask them if they are legally allowed to interpret that question differently. Also, I know of a bank that has a portfolio product where the investor ratio is not a factor. Please contact me if you would like more information.

Thanks,
Sonal
... more
0 votes 3 answers Share Flag
Thu Mar 13, 2014
Lisa Moroniak answered:
Hello Iris,

Please feel free to email (or call) me and I'll see what I can do to help.

Have a great day!
Lisa

Lisa Moroniak | REALTOR® | Service360°
SFR® - Short Sale & Foreclosure Certified
Keller Williams Realty
Phone: 703-635-0388
http://www.LisaMoroniak.com
Licensed in VA
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0 votes 8 answers Share Flag
Sat Jan 5, 2013
Danilo Bogdanovic answered:
Hello Scott,

Taxes in Virginia vary depending on which county you reside in. Virginia is actually a Commonwealth meaning that more power is given to the individual counties versus a typical State in the U.S. where the state creates uniform tax rates and laws across the board.

For example...

Loudoun County currently has a residential property tax rate of $1.235 per $100 assessed value. You can find the list of property tax and other tax rates for Loudoun County here- http://www.loudoun.gov/index.aspx?nid=1911

Fairfax County is currently at $1.075 per $100 assessed - http://www.fairfaxcounty.gov/dta/tax_rates.htm

Prince William County is currently at $1.2859 per $100 assessed - http://www.pwcgov.org/government/dept/finance/Pages/Real-Estate-Tax.aspx

Note: I say "currently" because the tax rates changes yearly and it can go up or down. And certain "Districts" within each county have additional real estate and other taxes. A "District" refers to an incorporated city within the county (i.e. Leesburg in Loudoun County, Falls Church City in Fairfax County, etc.)

You clicked Ashburn, VA as your area - are you looking specifically at Ashburn, Loudoun County or are you considering other towns/counties in the area?

What other questions may I answer for you?

Danilo Bogdanovic
United Real Estate
Cell 703.582.6900
danilo.bogdanovic@gmail.com

http://LoudounScene.com
http://LoudounForeclosures.com
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0 votes 4 answers Share Flag
Fri Sep 20, 2013
Deniele Martinez answered:
Hello Dan,

I personally live in a Toll Brothers community located in Ashburn, VA since October of 2011. We are lucky to have a good experience with high quality materials and solid insulation with no major problems with our new home. In addition Toll Brothers is a great community offering free events, free concerts, DJ at the pool with pizza, and free work out classes. I don't want to sound bias however I do enjoy the community. If you need more information on other builders I am happy to help.

Dee Martinez
denielemartinez@gmail.com
571.926.5383
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0 votes 14 answers Share Flag
Wed Dec 19, 2012
Tim Moore answered:
What do you want the builder to do? What state law do you think applies to mice entering your home with out a permit? New construction home are open and critters will get in. Once you move in then you can keep things closed and tight, but to expect no bugs to have gotten in is a bit over optimistic on your part. You can contact a pest goomer and ask them to treat the house and kill anything in it, short of that I don't think you can expect more. ... more
0 votes 4 answers Share Flag
Wed Mar 20, 2013
Danilo Bogdanovic answered:
Check with your Buyer's Agent. It all depends on the contract language which I nor anyone else reading this who does not have first hand knowledge of the transaction knows.

Generally speaking, if using the local Regional Sales Contract, the language typically states that you can not assign the contract. ... more
0 votes 5 answers Share Flag
Wed Dec 12, 2012
Marge Bennett answered:
You really need to talk with your lender. To me, this sounds like you may be intending to mislead your lender. Not a good idea.
0 votes 3 answers Share Flag
Wed Feb 27, 2013
My NC Homes Team answered:
You should be working with a buyer broker and asking them and not the Internet.

You have two options, if you're contract is predicated on your getting a mortgage then you may terminate the contract, you will be out your expenses to date. You can send a copy of the appraisal to the sellers lender who is ultimately the one in charge of the short sale and tell them they may either accept the appraised value and re-do your contract in which case you are prepared to close on schedule otherwise you'll terminate.

Good luck.
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0 votes 5 answers Share Flag
Sun Dec 16, 2012
Misty Mount answered:
Put a home inspection contingency in the contract. You can still walk away. You cannot finance a home if the septic has been removed.
I would be happy to help if needed.

Misty Mount
Long and Foster
540 903 6686
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0 votes 9 answers Share Flag
Sun Dec 2, 2012
Eric Pearson answered:
I have a completely upgraded one bedroom condo ($1,395) coming on the market tomorrow in Brambleton. Call (540-454-1551) or email (eric@e4realty.com) for details.

Thanks!
0 votes 3 answers Share Flag
Sun Nov 11, 2012
Joe Doman answered:
-Hey Jignesh- we would need some more details on your specific situation. Overall, on an REO the bank wants minimal contingencies. The bank is going to make you sign and "as-is" addendum regardless if they accept your offer. There are several strategies we use with REO's to make our clients offers stand out from the rest. In Ashburn on an REO you're definitely going to have a multiple offer situation. It depends on the bank with the escalation addendum, they will let you know when you put it in. I would suggest at least an escalation addendum, the home will most likely go for above list price and most likely no seller subsidy to help you with closing costs. In a nutshell the bank wants the highest net price with the least amount of contingencies.

If you would like to hear some of our winning REO success strategies, give us a call at 703-929-5716 or email us at joe@joeknowsva.com and we can review them with you.

Thanks
-
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0 votes 3 answers Share Flag
Sun Nov 4, 2012
Alan May answered:
As a real estate agent, of course, I'm going to tell you that I think it's important for you, as the buyer, to have your own representation.

If you've done lots of real estate purchases, and are intimately familiar with the process, you can probably attempt it on your own. Even then, I would strongly recommend having a real estate attorney involved to handle the details.

Good luck.
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0 votes 14 answers Share Flag
Thu Oct 25, 2012
Sonal Goda answered:
Hi Hema - I am doubtful that the price went up by $100K in 10 days. Maybe you had seen an older ad or as Helen suggested, you are comparing the base price to the final price with all options/upgrades? People do end up paying $20K - $50K higher than the base price (on average) after taking into account lot premiums, extensions, upgrades, etc.

Builders do increase prices based on demand - it can be weekly or monthly increases in price. They will go with what they can get. If they are selling quickly, they will try a little higher price and see if people are still willing to buy. But these increases are usually in the range of $5K - $10K.

At any rate, as a first time home buyer in particular, it will make the process much easier for you if you obtain the services of a knowledgeable buyer's agent - even if you are purchasing from a builder. An agent can help you analyze pricing and help if any issues come up during the transaction with the builder. I also scrutinize the builder's contract and discuss with you regarding anything that is in our regional contract but not the builder's contract. Give it a chance - try a no obligation meeting to see if you have a good repoire with an agent - I would be happy to help.

Thanks,
Sonal
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0 votes 2 answers Share Flag
Sat Jan 12, 2013
Katie Ferrante answered:
Hey! I am a buyer's specialist in Loudoun county. There are some wonderful up and coming communities in Brambleton and One Loudoun.

As for Brambleton....
http://www.millerandsmith.com/index.php?component=community&id=9

http://www.pulte.com/communities/va/ashburn/overlook/61500/index1.aspx

http://www.beazer.com/new-homes-for-sale/Virginia-DC-VA-Brambleton-Towns.aspx

As for One Loudoun....
http://www.camberleyhomes.com/one-loudoun

http://www.nvhomes.com/community/one-loudoun-towns
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0 votes 11 answers Share Flag
Wed Dec 5, 2012
Lisa Moroniak answered:
Consider doing a short sale. In my experience, I've been able to engage and get the foreclosure sale date pushed back to accommodate the cycle of a short sale. However, this would need to be done immediately.

Please feel free to get in touch if you would like to sit down and discuss.

Kind regards,
Lisa

Lisa Moroniak | REALTOR® | Service360°
SFR - Short Sale & Foreclosure Certified
Keller Williams Realty
Phone: 703-635-0388
http://www.LisaMoroniak.com
Licensed in VA
... more
0 votes 3 answers Share Flag
Fri Oct 5, 2012
Lisa Moroniak answered:
Tina Lambert
Certified Real Estate Appraiser
The Lambert Group
703.980.2538
tlambert01@gmail.com
www.TheLambertGroup.com


All my best,

Lisa Moroniak | REALTOR® | Service360°
SFR - Short Sale & Foreclosure Certified
Keller Williams Realty
Phone: 703-635-0388
http://www.LisaMoroniak.com
Licensed in VA
... more
0 votes 2 answers Share Flag
Wed Mar 5, 2014
Kamal Singh answered:
Shekhar
its a good idea to have home inspection at pre-drywall stage. final inspection is cosmetic for new home and builder has warranty. but framing inspection is always helpful to know quality of construction


Kamal Singh
703-728-3403
novarealtor@gmail.com
www.vamdnewhomes.com
... more
0 votes 7 answers Share Flag
Thu Feb 27, 2014
Matt Elliott answered:
Ravi - you've got great questions, all of which should have been answered by a Realtor if you are currently working with a Realtor.

Your questions can best be answered with some live (either in-person or phone) dialog, based on factors that the audience here won't know unless there is some discussion.

Ashburn is a great community, and Brookfield is a respectable builder in the area, yes. The other questions/answers depend on some additional information from you, quite frankly. If you'd like to discuss for a few minutes via phone, please call me anytime.

703-627-2167

My best regards,

Matt
... more
0 votes 5 answers Share Flag
Tue Sep 25, 2012
Alain Picard answered:
I would talk to a Real Estate attorney about this. If your contract wasn't already voided I would have told you to try to ask for an extension from the seller and offer to pay some kind of fee per day past the 30 days and you could have asked your real estate agent to pay some or all of the penalty since you wanted more than 30 days and they didn't put it in the contract. If your contract said that you have 30 days to receive your loan and you haven't done that then the seller can most likely give notice to cancel but again I would talk to an attorney about this. ... more
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