- Tour properties --- We took a top level tour of some of the properties that are in her budget. This gives the client something concrete and real to think about so that she can decide whether this home ownership thing is for her or not. In addition to the units we saw, I can think of a number of places that would also fall within this client's budget and still offer a very reasonable commute to Ft. Belvoir. But I wanted to get her impressions of these places before going on a bit deeper.
- Revisiting --- We'll revisit those communities that hold the greatest interest and look at everything available in those communities. (So far we just did a top level search.)
- 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, I'll write up an offer. At that time I'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 --- Julie at Condominium Mortgage will then collect documentation from the client. 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. Julie 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.
Why use a realtor?
All real estate licensees are not the same. Only real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS(r) are properly called REALTORS(r). They proudly display the REALTOR "(r)" logo on the business card or other marketing and sales literature. All agents and brokers at Condo Alexandria are Realtors. REALTORS(r) are committed to treat all parties to a transaction honestly. REALTORS(r) subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reports that 84% of home buyers would use the same REALTOR(r) again.
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR(r).
But if you're still not convinced of the value of a REALTOR(r), here are a dozen more reasons to use a Realtor from Condo Alexandria.
For more information or to set up an appointment call Stuart at (703)765-0300.The Young Professionals Survival Guide to Condo Ownership and Growing-Up
The term "garden-style" condo usually refers to a condominium residence in a building that has less than three stories. Most garden-style condos have balconies or patios for each residence. Many garden-style condos have a main entrance that opens to a common-area hallway. Additional common areas include the green space and "gardens" surrounding the structures. If you're interested in garden-style condos you'll have a lot of options in Northern Virginia.
From the suburban feel of Kingstowne to the central location of Bolling Brook from the vintage charm of Belle View to the chic feel of Carlyle Square, are just some of the many Northern Virginia condominium communities we feature.
Properties in Focus
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Mid-rise condos are taller than garden-style condos, but smaller than high-rise condos. Mid-rise condos in Northern Virginia are 5 to 8 stories tall and are generally found close to or inside the Beltway.
[read more about mid-rise condos]
Properties in Focus
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High-rise condos have more than 9 floors. They are generally found inside the Beltway and are often located near Metro stations, public transportation, or major commuter traffic arteries like I-395.
[read more about high-rise condos]