Think of Nesbitt Realty for condos and condominiums in Northern VA
Here are some common questions to ask your agent, your mortgage broker and yourself when you are thinking of buying a condo.
How much can I afford per month?
Is the condo is my price range?
Do I like the community?
Where are the grocery stores, shopping malls, bars?
Is there enough space for my needs?
What is the condition of the condo unit?
Do the common areas need repairs, renovations?
How old is the condo?
Is there a parking facility?
Is parking assigned?
Is there a fee to park?
Is there guest parking and if so where?
Does the condominium have access to public transportation?
Metro or bus only?
Shuttle or Limo service?
What are the chances that this condo will increase in value?
What type of security system is in place?
Does the condominium association allow pets? If so how many and what type?
What are the condo fees and what they include?
What is the condo association policy about renters?
How much is in the reserve fund?
Does the condo association have a certificate of insurance?
Property management is a business in and of itself. If you want to invest in real estate, but you don't want to be a property manager, the solution is really quite simple: employ the services of Nesbitt Realty. Our property managers are experienced individuals who will manage the day-to-day operations of your property. We manage residential properties, multi-family properties and even homeowners and condo associations.
Amin & Will in Lowes
A big value-add provided by your Nesbitt Realty property manager is "separation". This to say, your Nesbitt Realty property manager maintains a level of separation between the landlord and the tenants and the property. As you may already know, it's important to invest in real estate without emotionally investing in tenants or property. Your Nesbitt Realty property manager helps ensure that you always make the best decision for your family, rather than making the best decision for the tenant's family.
So, your Nesbitt Realty rental property manager serves as a buffer between the owner and his tenants. Nesbitt Realty can help you find tenants, handling repair projects and maintenance, oversee improvements, collect rent, and even pay some expenses and taxes. The specific tasks we handle vary based upon upon the needs and wishes of the property owner.
Nesbitt Realty Property Management also handles commercial properties such as office buildings, freeing the owners from the day to day responsibilities. Additionally, a competent Nesbitt Realty property manager gives you protection from certain liabilities.
Crunch-time processing rents!
Nesbitt Realty usually charges a percentage of the rents collected. Every aspect of Nesbitt Realty property manager's responsibilities will be outlined in a contract signed by both Nesbitt Realty and the landlord. This agreement details financial responsibilities and specifies the types of financial reports the landlord can expect.
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. Most Nesbitt Realty property managers are themselves landlords. They know your needs.
Nesbitt Realty manages rental homes, townhouses, and condos for landlords in Northern Virginia. We are a family business that strives for excellence in what we do. Our goal is to strictly administer the lease while adhering to the Virginia Residential Landlord Tenant Act. We avoid "judgement calls" as much as possible; and we prefer to simply act in accordance with the lease, law, and regulations.
We serve most of Northern Virginia and have offices across the area. We manage single-family homes, townhouses, and condominiums.
Property Management BasicsPlease don't hesitate to contact Nesbitt Realty for assistance. Our real estate experts are eager to assist you in any way they can.Julie and Will Nesbitt pause from property management to take a quick picture.
For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.
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 needn't worry about the expense maintaining a property. Many first time buyers aren't ready to take on the hassles and expenses of yard work, gutter cleaning, painting and so on, and for this reason condos are a viable and interesting alternative.
In the case of a condo, maintenance can be separated into two categories: owner's responsibilities and association responsibilities.
These exact nature of these duties and responsibilities will vary from condo to condo, but there are a few rules of thumb. For example, certain retirement communities provide maid service as part of the condo, but most often the condo owner is responsible for cleaning his own unit.
In most cases, the condo owner must clean the condo interior, including all windows which are reachable from the interior. The condo owner must clean of his or her private balcony or patio. Most renters are accustomed to this type of arrangement already.
Unlike renters, condo owners own the appliances in the unit. Thus, the condo owner cleans and maintains all the appliances, but the condo owner also pays for repairs and replacements as needed. A condo owner has the power to pick his own appliances, but with that benefit comes the duty of maintaining that unit.
In most older condos, the association supplies the heating and cooling to the unit, and the condo owner owns the convector or radiator (heat transfer appliance) in the unit. In new condos, the owner typically owns the HVAC (heat pump / air conditioner) that heats and cools his unit.
Plumbing and electrical concerns remain for owners of single family homes and townhouses, but in all but a few rare cases the condo owner need only worry about systems that are outside the walls. For example, the condo owner typically owns the bathroom vanity and the pipes supporting that vanity, but not the pipes which supply water and take sewage away from the bathroom. A condo owner owns his kitchen cabinets, but not the electrical wires inside the wall that bring power to his kitchen appliances.
In general, the condominium owner is responsible for his personal space, but the condo association is responsible for all common areas. This includes maintaining and operating the elevators and outside doors. In most cases this includes the windows. Most always, the association maintains the lawns, flowers and shrubs. The condo association maintains the roof.
While the owner of a single family home must maintain his own driveway, a condo parking lot is maintained by the condominium association. The parking garage can be private, common, or common with assignments. If the parking garage is common, with or without assignments, the condo association will clean and maintain the parking. A private garage is the domain of the condominium owner.
Review your docs
Ultimately, you'll want review your condo documents, charter and by-law to determine exactly how your condo association interprets its domain. Rest assured, a condo owner will have more to maintain than a renter, but significantly less responsibility than the owner of a single family residence or townhouse.
If you have any questions about condo documents, insurance or maintenance, please contact the office below:
Hallmark Condominiums
200 N. Pickett St.
Alexandria, VA, 22304
703-751-0777
If you would like to buy a condo, give us a call at Condo Alexandria.
For more information or to set up an appointment call Julie at (703)765-0300.
If you are looking or even just thinking about buying a condominium home, it's perfectly natural to feel a little nervous. Buying a condo and owning your own home is a large, life changing purchase. Indeed, any individual thinking about buying a condo needs to know what to expect and how to prepare for those expectations. Below is a short list of 5 essential tips that any potential condo buyer would do well to consider throughout the process of finding a new condominium home. Happy hunting!
Royalton penthouse1) Look at Everything in Person
First, remember to look in person at any condo unit you are interested in. It is very important that you make sure to actually see the amenities, parking space, and condo facilities personally. This simple but critical task will avoid any confusion and disappointment later on and will ensure that you are satisfied with your condo purchase. If you absolutely cannot look at the condo in person than ask the seller if you can send a friend you trust to look at the unit instead. In addition, if you are located in a different city than where you are condo shopping, be sure to ask the condo seller or realtor to send you as many pictures as possible of the condo and the condo building before you make a decision.
2) Carefully review the Condo Association Fees First
Make sure that you know what exactly is included in your condo purchase. What amenities are included in the condo fees to make the condo right for the price? Or, on the other hand, are you going to end up paying for benefits you don't need? In addition, ask if there is any insurance included. Different condo associations may charge the same amount per month, but one may include some incidental insurance while others may require hefty fees for amenities you may not really need or want. Finally, check the condo association meetings and/or any printed bulletins that result from them. Look for any past or developing issues that you need to take into account.
Wooster Mercer Lofts3) Never Ignore the Documents that Accompany the Condo Purchase
Always review the condominium documents very carefully before you buy. In laymen's terms, don't ignore the fine print. Here, you should check the total price and property documents to make sure that they are reasonable for the area. Be especially cautious if the price is very low because this could mean you will need a special assessment of the unit, which could cost you a lot of money, later in the future.
4) Always Review Comparable Units for Sale in the Same Building
While every condo building is unique and features different amenities, styles, policies, and location, it is important that you look into other condo units that are for sale or have sold in the same building. Here, do not simply rely on the recent sale price of another unit in the building. Consider what another units' floor plan was, what views it had, or if it had any special upgrades. Depending on the view and floor of the unit, the price of a one bedroom can vary within a condo building.
5) Work with a Specialist
The condominium marketplace is often a very specialized type of real estate and as such, you should always consider working with a qualified realtor, and particularly one who specializes in condos. With the help of a realtor, you will have access to a greater condominium market which will enable you to find the best condo unit to fit your needs at a price that you can live with.
For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.
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In the Commonwealth of Virginia (and in other states) the buyer must be allowed an opportunity to review the condo docs. From the time the condo docs are delivered, the buyer has 3 days to cancel the contract without cause, other than to say the condo docs contained information which caused the cancellation. The buyer doesn't have to explain why or what the problem was.
Recently a client of mine was buying a condo and when he received the documents, the condo docs said that the unit did not pass architectural review. The problem was that the client had made changes to his unit without first seeking permission of the association and then never had the changes inspected.
The change that the seller made? The seller had installed an overhead microwave and changed a cabinet without seeking any approval from the association. This was indeed a minor change. Furthermore, the seller claimed that he didn't actually make the change. It was his claim that a previous owner made that change and that the seller had NEVER read his condo docs.
My client, the buyer, was a very above-board and by-the-book type of character. It was his position that if this guy "hid this fact" who knows how much else he withheld? Even if he believed the seller's story (he did not) then it would show that this is a very inattentive owner. My client canceled the contract based on condo docs.
At another location and with another buyer and seller, the property went under contract and the seller did not deliver the condo docs, because the seller didn't have condo docs. The seller didn't have the condo docs because the seller didn't order his condo docs. The selling agent explains that the law allows for 14 days for the delivery of condo docs. I replied, "That's why you order docs when you list." Because if you allow 14 days for preparation and 2 days for delivery and then 3 days for review, then the buyer can cancel the sale 22 days after the contract is signed.
Here are the lessons for sellers:
Order you condo docs when you list your condo for sale.
Review your condo docs to make sure that your condo doesn't have any defects according to the association.
Have your agent deliver your condo docs PROMPTLY once your contract is ratified.
Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…
The Wooster Mercer Lofts are located in Rosslyn in Arlington County Virginia
As with any home purchase, location, size and price are important. With a condominium you'll also want to understand the ownership scheme. This type of information is found in the "condo docs" or condominium documents. Most states, and the Commonwealth of Virginia, require condo doc disclosure before any purchase contract is finalized.
The condo docs will contain detailed information on the ownership and property rights of the condo and its owners. The rules of the homeowners association are generally explained in the condo docs in plain English and not in legal jargon. It's important to read the condo documents to understand the annual maintenance and upkeep fees, as well as to obtain a full understanding of exactly how much control the association has over the regulation of the property.
Condominiums can be found all over the country, with more being developed each year. Condominiums are quite common in Northern Virginia and the National Capitol area. Some condos are new construction and a few are apartment buildings that were rental apartments before making the switch. In newly constructed condos, it's common to find a sales office onsite at the condominium.
The outside of the building during summer
The KORUS festival took place at the special event center at Bull Run Regional Park, Centreville Va. The event lasted 3 days. The KORUS Festival is organized by the Korean American Association of Washington Metropolitan Area (KAAW). The KAAW try to share their culture with the community.
The festival featured live music. Vendors sold authentic Asian dishes. The festival attracted a lot of people. At one time during the show the performers taught the audience how to dance to Gangnam Style.
Bull Run Regional Park filled with people
The KORUS festival has taken place for the past 10 years
Bull Run Regional Park is close to a Super H mart
The KORUS festival showcased Korean Pop music
Bull Run Regional Park hosted the KORUS festival
The festival had a variety of vendors
Vendors preparing food for the KORUS festival
A close up of a freshly served entre
Freshly prepared food ready to be dished out
The sun sets on the festival
The festival lasted until 10pm each night
Traditional dancers entertain at the KORUS festival
