What happens when an agent quits, dies or moves away?

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Nesbitt Realty lists and sells property in Northern Virginia.
Take the example of an imaginary agent name Charles Valiant of Imaginary Realty. Charles' client Dana Tennett wants to sell her house. So Dana approaches Charles. Dana signs a 90 day exclusive listing to sell her home. A week later, Charles decides to "chuck" it all. He moves to Japan and puts his license on inactive status. What happens to Dana's listing? Does it just become an open listing because the agent is gone? Is the listing voidable on the grounds of abandonment? Does the listing remain in effect? Or, is the listing automatically terminated because Charles quit? A listing agreement is between a broker and a seller, not between an agent and seller. Therefore, Dana listed her property with Imaginary Realty and not with Charles. The listing remains in effect and unchanged. The broker at Imaginary Realty should assign an agent or meet with Dana to select the best agent for the job. For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.
  • The difference between equitable title and legal title

    Julie Nesbitt
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  • What is the Virginia Condominium Act?

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  • Condos need maintenance …

    condo Alexandria
    Everything built by man requires some maintenance at some point. Even so-called maintenance-free homes require some attention. So when making the transition from renting to buying, one aspect of home ownership that must be considered carefully is maintenance. Renters enjoy few advantages over buyers, but one benefit of renting is that in most cases renters…

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  • Real Estate Contracts With Contingencies

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  • Update: Lepelletier case against Judge Tran Dismissed

    Nesbitt Realty is located at the Belle Haven Professional Center
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Commwealth of Virginia adds to real estate licensing requirements for LLC’s

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Nesbitt Realty is licensed in Virginia.
Robert D. Hull is the sponsor of House Bill 1114 Real Estate Board which changes how real estate firms are licensed. The law now provides that no business entity shall be granted a firm license unless every managing member of a limited liability company or officer of a corporation who actively participates in the firm brokerage business holds a license as a real estate broker. Currently, the law does not specify the type of business entity.
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  • How To Save $5,134 At 6455 Waterfield Rd Alexandria VA

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Methods of Estimating Value: The Appraisal Process

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The lobby at the Plaza is pleasant.
Appraising is the process of professionally estimating the market value. Factors influencing the market value include: comparables, adjustments, physical characteristics, etc. Most lenders require a satisfactory appraisal before approving a mortgage.
  • Julie Nesbitt

    Julie Nesbitt
    Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.

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  • Enjoying Winkler Botanical Preserve

    We had a great time walking the trails. 

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  • Don’t take chances with real estate.

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  • Good Shepherd Housing and Family Services

    Fairfax County
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Residential Disclosure Tip

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River Towers is located in Fairfax County
Agents should never fill out a disclosure form for the seller. An agents duty is to advise the sellers of the state's disclosure laws and the sellers obligations there under. Using disclosure forms adds a layer of protection to all parties in the transaction. However the forms themselves do not replace an agents independent responsibility to disclose all material property defects known by the agent.

Real Estate Elements of Value (DUST)

Regardless of its purpose, an item has some value if it satisfies four essential elements:
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Bench on the grounds of River Towers
  1. Demand: This means the desire to buy and an ability to pay.
  2. Utility: The item satisfies a human need or desire; such as shelter, income, or recreation.
  3. Scarcity: Limited in supply, as supply diminishes, value increases.
  4. Transferability: Able to transfer from one owner to another
If you want to sell your home, Nesbitt Realty is here to serve your needs in {Location_Name}. Our Realtors are experienced and familiar with the real estate market in {Location_Name}. A Realtor can help you determine the best listing price for your property. We know how to market your home to get the best price as quickly as possibly. Nesbitt Realty knows how the home selling process works, so we are ready to assist you every step of the way. Nesbitt Realty has access to the MRIS (our local multiple listing service). MRIS is the MLS database that agents use to find homes for sale in the area. Our agent will add your property to it. Working with a Realtor will make the home selling process run smoothly and much simpler than if you attempt to do it on your own. We're a local family-run business and we appreciate the opportunity to serve your needs. Learn more about selling your home

In Real Estate what is a Special Agent?

A special agent is a person authorized to perform a particular act or transaction. Special agency limits the broker to certain activities specified in the listing agreement. Special agents cannot legally obligate clients (cannot accept an offer on a clients behalf). Special agents are sometimes a part of brokerage transactions.

Exceptions to Fair Housing Law

Cameron Station gazebo
Community back porch -- Cameron Station gazebo
Fair Housing Law exceptions include threats to health and safety. The Fair Housing Act (FHA) does not require that a dwelling be made available to an otherwise protected individual whose occupancy of the dwelling would constitute a direct threat to the health or safety of others, or whose occupancy of the dwelling would result in substantial physical damage to the property of others.

Title Insurance: More Important Than Ever

Ryan at closing
Starting a closing with Ryan Stuart
Understanding the tenets of title insurance is especially important considering the turmoil in the real estate industry. Title insurance is intended to protect the insured from improper titling, including defects in foreclosure proceedings, forgery, or impersonation or cases in which no title is legally conveyed. Other defects are partial, such as a neighboring fence or garage encroaching on the insured person’s property. The title insurance industry recently set down strict guidelines for when and if they will insure a title to a property on which there has been a foreclosure. The buyer should be equally vigilant, insisting on a 60-year search and paying for an owner’s policy as well as the lender’s policy that the bank will demand. Source: Washington Post, Harvey S. Jacobs (11/27/2010)

Reduced Tax Assessment: Good or Bad?

Some home owners are finding themselves in the awkward position of wondering whether they should appeal a tax assessment because it came in too low. Many communities are reassessing in light of declining values and the amount of the reduction can be a shock to home owners who fear that it reflects an equal decline in market value. In many cases, though, that's not true, say real estate practitioners. They explain that tax assessments are done on thousands – even millions – of properties and each assessment can reflect a variety of factors unrelated to market value, include owners’ age, military service and health. As long as it doesn’t have factual errors in room counts, square footage, etc., they advise not worrying about it. Or better yet, if it is a really dramatic drop, consider asking the lender for a loan modification or restructuring. Source: The Wall Street Journal, June Fletcher (06/30/2010)

Legacy Lost at River Bend Farm

 

What happens when your greatest wish is to preserve a piece of land?

My Aunt Alice was the owner of River Bend Farm, an approximately 5000 acre piece of real estate located south of Front Royal VA between the Shenandoah River and Rt. 340 Stonewall Jackson Highway. The manor of the farm was built in 1752 and came into our family in the late 1920's. Aunt Alice loved River Bend Farm and her greatest desire was to preserve the land as she knew it. This is the story of what happens when you write a will that restricts the choices of your heirs.

My Pepaw and his sisters.

When my grandfather was young he was forced to be the man of the house after his father passed away. He had supported his sisters when times were tough and he and his sisters always remained close. My grandfather and his sisters Virginia and Hattie were interesting characters in their own right, but this story is mostly about Aunt Alice. By all accounts Alice was a beautiful woman and after a youth of struggle and hunger she married an older man who had quite a bit of money. Eventually her husband passed away, leaving her alone on this enormous farm. The struggles of Alice's youth must have girded her loins, for she took well to the challenge of managing an enormous farm. She loved the solitude that she enjoyed at River Bend Farm and all by herself she managed the domestics and farm hands that made this a working enterprise.

When my father was a boy ...

Fortune had smiled on the pretty girl with the Irish Catholic roots, but my Aunt Alice never forgot how her younger brother Frank helped support the family when she was young. Her brother Frank had five children one of whom was my father. In those days, Frank Nesbitt had five children, a factory job at Viscose in Front Royal and all the responsibility he could handle. But Aunt Alice helped out in many ways. She paid the tuition so that my father and his brother Frank could attend Randolph Macon Academy, a military private school. Furthermore, to help the family and to perhaps to groom an heir, she brought my father to River Bend to raise him as her own on her farm. I was never told why my father was selected to be Aunt Alice's. Maybe he was her favorite. Maybe he was a bit rowdier than the others and the farm might do him good. I think those siblings left in town with their parents were jealous of his station, but I also think he was jealous of those left in town. Still, my father always had fond memories of this great farm down by the Shenandoah. My grandfather and father both enjoyed fishing here and nearby at the boat landing at Karo. When I was a child, we visited Aunt Alice from time to time.

When Aunt Alice died ...

It was a sad day for my grandfather when his sister died. He rightly predicted that his other sister and he would follow not long after. Alice's possessions were parted out among family members, and what wasn't wanted by anyone was sold at auction. I distinctly remember the items that came from her estate because of their generally high quality and good taste. More than any possession, my Aunt Alice loved River Bend Farm. It was her greatest wish that this farm never be broken up. To accomplish this desire, she wrote her will with very specific instructions. My grandfather Frank and his sister Aunt Hattie would inherit the farm, but with restrictions. They were not allowed to chop pieces of the farm off to sell. They were not allowed to split the farm between themselves. River Bend was to remain River Bend Farm. Unwittingly, Aunt Alice ensured that River Bend Farm was no more. I'll tell you how. My grandfather and Aunt Hattie were only a few years younger than Alice, but they were from a little different generation. The last thing my grandfather wanted was to manage an enormous farm. He had worked himself into a leadership position at the factory at Viscose. He loved his house in town just as much as Aunt Alice loved her farm outside of town. Aunt Hattie was an older widow with a house in town as well. She didn't want the responsibility of managing a farm. My grandfather and Aunt Hattie didn't own farms, because they didn't want farms. Furthermore, there was only one house at River Bend Farm. River Bend was an enormous piece of land, with barns and outbuildings, springhouses and smokehouses, but there was only one house. Even if they did want a farm, Pepaw (as I called my grandfather) and Aunt Hattie weren't going to move-in together. They got along well because they knew how to stay out of each other's hair. Yes, they both liked to visit Aunt Alice --- even if they complained about the dirt road and cattle guard on the way to her house. They loved playing bridge together. But they didn't want to live in the same house. That was out of the question. So, when Aunt Alice passed away she stipulated in her will that the farm could not be broken up. So instead of dividing the property, my grandfather and Aunt Hattie, sold the property whole to a developer, who later started building houses on the farm. Aunt Alice herself ensured that the property was going to be developed by demanding that her relatives keep the property together.

River Bend unseen.

The manor at River Bend was always hidden away. It was at the end of a long private drive, tucked between a steep ridge and a bend in the Shenandoah. The house is in a perfect location if you want solitude. So, for years after the sale of the property, the original house was hidden from view in a meadowy glen on the property at the end of a long private drive. This weekend, Julie and I were in Front Royal and I decided for some unknown reason to drive to my old school Wakefield Country Day School. It was a lazy Sunday afternoon and I wasn't paying attention so I accidentally went down the wrong road. Rather than turning back, I told her, let's drive out to River Bend Farm. I haven't been there in more than thirty years. As luck would have it, the remnants of the original farm is now for sale, so we drove down the private road to have a look at how time has been to the old homestead. I'm so glad I made a wrong turn and glad that I had the chance to see the old place. As you can see it is a stone structure with a metal roof. The stone has held up well. The windows look like they were last replaced by Aunt Alice. I peaked in the window and to my amazement and delight saw that the wall-papers of Aunt Alice were still in place. The old wood floors were in excellent condition, positively historic. The roof and trim needs paint. The landscaping needs some attention, but ultimately it was a shock how little has changed since Aunt Alice's day.

A life that might have been.

I look at the house and I see a heritage lost. This breaks my heart. I look at the house and I see work as far as the eye can see and as long as the day is long. So, I certainly understand why Aunt Hattie and Pepaw didn't want to live here. I look at the new houses that have been built on the old farm and I see the possibility of a different life. I see a life where my cousins are my neighbors and where we all live together at the river's bend. When I visited I took pictures in such a way as to block out the new houses and buildings. I wanted to see the property the way it was, and I wanted my pictures to be there for my cousins and relatives and friends to see. In the picture at the start of this article, the house looks stately and the photo hides the flaws that the naked eye can clearly spot. In this picture, the rust on the roof is a little more evident, hinting at the restoration that the home really needs. It's bittersweet to visit this place, but I'm glad I stopped by.

The Lesson of Aunt Alice

There is a lesson there for those who have gifts to bequeath to family members. That lesson is: don't bind your family with restrictions, covenants and instructions. If my Aunt Alice could see her legacy, she would be heart-broken. The farm is no more. I didn't see any cattle or horses while I was there. The houses are perched on her best hills and in her cow-fields down by the river bend. But if she had allowed her brother and sister to do as they wish, things may have turned out a bit differently. Instead of strangers living on her farm, my cousins and my family might have been in those homes instead. Sure, many family members would have rather moved elsewhere, but those who wanted to stay near the homestead could have.   This was Alice's front yard. There are three trees here that symbolize what became of her place. To the left, at the corner of the fence is a dead tree. In the center is a very old flowering apple tree that Aunt Alice would recognize. To the right is an ornamental tree that was planted after her death and no doubt after the death of one of her fruit trees.   The Blue Ridge Mountains can be seen in the background behind my wife Julie. Beyond the fence hidden in the trees is one of the closest houses. The land has been chopped down from 5000 acres to 15, but it's still a great piece of land. To see the listing for the home check here.  
Will Nesbitt About the Author --- Will Nesbitt is the principal broker of Nesbitt Realty and maintains Condo Alexandria. Will specializes in condos, townhouses and single family residences in Alexandria, Arlington, Fairfax County, Crystal City, and Kingstowne. Will resides in Belle Haven Estates just outside Alexandria VA in Fairfax County.