It’s a waste of time and energy to look at homes that are outside of the budget, so prequalification is the first step for any home buyer. If you choose to work with Nesbitt Realty here are many of the steps that we’ll be taking on the road to home ownership.
- Tour properties — We’ll take a top level tour of some of the properties that are in your budget. This gives the client something concrete and real to think about so that you can decide whether this home ownership thing is for you or not. It also gives us a chance to see which properties most interest you so that we can rely upon our experience to identify communities and properties you may have overlooked.
- Revisiting — We’ll revisit those communities that hold the greatest interest and look at everything available in those communities.
- A few more choices — If none of these really feel right, we’ll find a few more to consider and continue with the search.
- Make an offer — When we’ve found the property that stirs the soul, fits the budget and feels right, your agent will prepare an offer. At that time we’ll collect earnest money.
- The earnest money is evidence that the seller is serious about the purchase and is held in escrow until the sale is completed. We’ll submit a preapproval letter, a copy of the earnest money deposit and the signed offer for the seller to consider.
- Negotiations — Sometimes there is a difference between the asking price and the selling price. The selling price is determined by negotiation. We’ll pass drafts of the contract back and forth until the buyer and seller have agreed on all terms.
- Loan processing — Your loan officer will then collect additional documentation from the you and from your agent. This documentation will serve the purpose of proving the representations made in the loan application process. The buyer will produce pay stubs, bank statements etc. The loan office and agent will also order an appraisal as required by all lenders.
- Settlement — Settlement is the word used to describe the actual transfer of ownership. We’ll settle on the property in a timely fashion on an agreed upon date. Settlement will occur at a title company’s office and a settlement agent will ensure that funds are present as is marketable title.
- Ownership — Here’s where the fun begins … as does the responsibility of home ownership.
Real Estate for:
What exactly Does a Realtor Do?
Law requires realtors to:
- Perform certain mandatory and standard acts to help out with the purchase or sale of real estate.
- Properly account for the money or alternative property placed in her or his attention.
- Disclose untoward material facts that are, or should be, inside the broker’s knowledge.
Sellers can be assisted by Realtors in screening prospective buyers and preparing their homes. Realtors can demonstrate to investors the properties that meet their risk profiles and long-term investment strategies.
Nesbitt Realty can quickly locate the perfect home for you. Our agents can efficiently organize and coordinate meetings with sellers and potential buyers. A Nesbitt Realty Realtor is well acquainted with all the important things you’ll want to learn about the area you may be considering:
- the quality of schools,
- association fees,
- Metro availability,
- community amenities such as shops, parks and restaurants.
Our brokers have immediate use of homes when they are put on the market, saving you hours of wasted drive-around time. When you’re prepared to make an offer on a house, our Realtor will help structure the deal to help you save money. She or he will clarify the pros and cons of different types of mortgages and guide you through the piles of paperwork.
Who sets the price?
Agents at Nesbitt Realty understand that no matter what you’ve been told Realtors really have no control at all over the real estate market, only the plan behind marketing.
Our Realtors never determine the asking price – the seller does. We can provide Realtor advice, but the seller makes the final decision. This not only applies to the list (asking) price, but it especially applies to the selling price. By the same token, we cannot control the offer price. We can only present the offers that are actually made. None-the-less, if the seller does things right and takes each step by step, together we’ll set a listing price in the right area and have no problems selling your property.
Nesbitt Realty usually charges a percentage of the rents collected. Most landlords find that our fees are lower than other property management firms in Northern Virginia. Every aspect of Nesbitt Realty property manager’s responsibilities will be outlined in a contract signed by both Nesbitt Realty and the landlord. Our property management agreement was written by the Northern Virginia Association of Realtors staff attorneys. This standardized agreement details financial responsibilities and specifies the types of financial reports the landlord can expect.
Our promise to you
Your Nesbitt Realty property manager will stay current on new laws and condo regulations which may be relevant to your situation. Nesbitt Realty Property Management takes a lot of the burden off of owning rental real estate. Call us at (703)765-0300 to discuss.
Nobody works harder than Nesbitt Realty.
Rental hunting can be very daunting for some potential renters. Often the variety of options available to these renters is a source of overwhelming frustration for the renters. With so many appealing options it can be difficult to choose just one. However, there are some tips which can help to ease the process of apartment hunting. The process of finding the perfect apartment can be broken down into three simple steps.
- The first step is to set a budget.
- Talk to an agent who will research all available options.
- Your agent can help you comparison shop to determine which option is the best.
Did you know that a rental agent costs the renter nothing? Learn more about rental agents.
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