By Nesbitt Realty – a family business
Real estate tips, ethics, law, anecdotes and definition of terms.
 About the Author --- Aubrey Nesbitt is a native of Northern Virginia who attended Virginia Commonwealth University. He is a veteran of the US Army and helps his family business by providing informational articles like this one. In addition to photography and blogging, Aubrey provides administrative support for the office. |
The listing agreement is an agreement or "contract" between a property owner and a licensed real estate professional. The listing agreement authorizes an agent to act on the behalf of the property owner for the purpose of selling the subject property. In other words, the listing agreement describes the powers and limits of your real estate agent when your sell your home. Listing agreements can be negotiated to include any number of terms specific to your relationship and property, but all valid listing agreements will always include the following elements:
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Start by creating a prioritized list of features you want in your home and the reasons why. Use it as your search guide, but remember that depending on your budget and funding, you will probably need to make some compromises.
Your Condo Alexandria real estate professional can you information about communities which fit your criteria. Of course, location is a huge part of any move. If you're new to the area, keep in mind the distance traveled during your commute is not so important as the time traveled. Traffic patterns favor some neighborhoods while some areas regularly suffer with gridlock. Your Condo Alexandria real estate professional can tell you about area amenities, culture and shopping.
Step 2: Figuring Out What You Can Afford
Now that you have an idea what you'd like, it's time to see how that marries up to what you can afford. Most people do this with the assistance of a mortgage professional. If you are considering a condo, make sure that you deal with an experienced lender such as Condominium Mortgage who understands the unique challenges of lending in condominium communities. Often the preapproval process takes less than an hour, and can be handled over the phone.
Your mortgage professional can tell you how much condo you can afford and what your monthly payments would be. Additionally, a pre-approval letter demonstrates to the seller that you can afford to buy their home. When the seller knows you can move quickly, this often gives you more negotiating power. By definition, a pre-approved buyer has an approved mortgage subject to an appraisal of the property.
Condominiums mean condo associations and condo fees. When figuring your monthly budget you Condominium Mortgage professional can take into account any condo fees you might be expected to pay. Often the cost of condo fees are a bargain compared to the cost of utilities, time and maintenance expense that other home owners pay. It's important to put this fee into perspective when considering a condominium or PUD purchase.
To receive free loan pre-approval from Condominium Mortgage call toll free 1-703 765 0300 seven days a week.
Step 3: Shopping For Homes
Once you know what community you'd like to live in and have an idea of how much condominium you can afford, it's time to start checking out some actual communities. You can begin this search online and save time since it can help you target homes that meet your search criteria. You can view virtually every property listed by all real estate companies in the area on this web site. It's one way Condo Alexandria makes home shopping easier for you. We will even notify you by email when properties come on the market that meet your search criteria.
Next, begin visiting homes in person. Ask your Condo Alexandria real estate professional to arrange home showings that are in your target area and price range. If you are not currently working with one of our agents contact Condo Alexandria Customer Service at 1 703 765 0300 . We will arrange to have a knowledgeable agent assist you.
Step 4: Making An Offer
Once you find the home you want, you need to complete a purchase agreement for the condominium. Typically this is a very difficult and trying time since both buyers and sellers have totally different goals. In most cases it is better to have a third party, such as a Condo Alexandria real estate professional, negotiate the offer.
If you have any personal interaction with the homeowner, don't give out any information about your move, your current housing status, financial status or your feelings about their property - positive or negative. This could hurt you in future negotiations.
Step 5: Closing
In most cases you will also have the option of a "walk through" within 3 days of the closing. This is your chance to make sure that all of the items that you and the seller have agreed upon meet your satisfaction.
Before you arrive at the closing, make sure all the necessary paper work and deposits have been completed. If the mortgage, title work, homeowners insurance and other items necessary are not completed and brought to the closing table, the closing may not happen on time. Once you close, it's official - you own the condo.
We specialize in finding homes with easy access to the Orange, Yellow and Blue Lines in Virginia. Our specialized searches feature homes that are very close to metro stations. Our site also allows users to search by Walk Score. Walk Score rates a property's "walkability". [More about Walk Score]
