DROdio "Q&A Blog"
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How we kept a buyer from making a BIG mistake
On our quest to show you that buyer agents really do make a big difference in your home buying process (even for new construction properties, when you may think you don't you need any representation), we have a perfect example to share with you.
We had a buyer who was very (very) interested in putting an [...] -
When does the 3 day HOA right of rescission kick in?
A client asked us:
> My understanding is that I can cancel the agreement within 3
> days after receiving the association disclosure packet. Or does
> this 3 days begin if and when I sign a ratified contract?
Here is the answer we got from the legal counsel of the Virginia Association of Realtors:
The Act is explicit: "The [...] -
Alexandria city zoning map
Here is a zoning map of Alexandria city we recently came across: DROdio - Alexandria City Zoning Map
And also a picture here:Share This
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How hard is it to do a DC condo conversion myself?
Here is an email from a client asking about doing a condo conversion:
Hi,
Per our conversation and your e-mail, yes we are interested in doing a condo conversion with 1234 Main Street for 3-4 units. Due to the fact that the process may be lengthy we will probably currently, look to purchase a distressed property, fix [...] -
What could possibly go wrong with my lender?
We often have buyers ask us if there's any type of problem with them using a lender from LendingTree.com or other lenders which aren't local. The answer is complicated, but then again, that's why you're here reading this FAQ, right? So let's delve into the issues:
The first thing to know is that at the end [...] -
YouTube Video: Buy a House like a REALTOR would
Learn the tricks to buying a home like a professional Realtor would.
You need to a flashplayer enabled browser to view this YouTube video
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Home inspection basics
Part of the buying process is making sure you’re not getting a “lemon” of a home. The home inspection helps you ensure the quality of the home. As your Realtor, we highly recommend you choose a home inspection. It
ensures you know of problems before you close and allows you to cancel the purchase contract if [...] -
What does a ratified contract look like?
Here is a sample Virginia sales contract, which has been ratified & passed through the fax machine several times: DROdio - Sample Ratified Agreement
You'll notice that several items were negotiated back & forth between the buyers & sellers - you will notice the initials in several places where compromises were made.
On this contract, we negotiated [...] -
How do you “lift,” or remove, a home inspection contingency?
A home inspection contingency is removed by sending the seller a list of home inspection items that the buyers wish to have repaired. Remember - the home inspection items are different than the walkthrough items; a difference that is explained in detail here. We had to respond within seven days of the contract ratification to [...]
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What’s the difference between walkthrough items and home inspection items?
Regarding Walkthrough vs. Home inspection:
Walkthrough items are items that MUST be addressed by the seller, as per paragraph 7 of the ratified sales contract. Anything plumbing, electrical or appliance related falls into this category. The seller does not have a choice - those items have to be working at the date of settlement.
Home inspection items [...] -
DC Tenant Rights - an introduction
Tenant rights in DC is a very complex topic & beyond the scope of this FAQ. However, we'll delve into it at a high level to give you an idea of what you need to be aware of.
If you're buying or selling a property in Washington, DC that has a tenant, you need to know [...] -
How does the home inspection work?
The home inspection process can be very confusing, and rightly so. There are many components to it, so here's our overview to help you know what to expect.
The first & main thing to remember about a home inspection is that it's known as a "contingency", meaning you have to get it done within [...] -
Can I buy a foreclosure / short-sale / REO home?
The foreclosure market is starting to heat up in a big way, and more foreclosures are on the way. Being a smart foreclosure shopper, or at least including foreclosures in your search, is a smart move, but you must approach these homes carefully. Here's a brief primer on the topic. You may also want to [...]
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How does the ‘rent back’ work?
A client of ours asked:
"How does rent/lease back work- one couple is building their dream house, but it's not ready yet? Would we buy the house outright and then they just pay the regular mortgage?"
Our answer: Yes, when you do a rent-back, you take possession of the house (i.e., settlement) and the sellers become your [...] -
What happens once I ratify a contract?
Once you ratify a contract, we will work with you to make sure the inspections get done and all contingencies are released. The main job you as a buyer have is to get your loan paperwork done (i.e., send in your paystubs, pick your loan program - 30 year fixed vs. ARM, etc.) Below is [...]
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Buying and Selling Blog Categories
- All About Home Financing & Loans
(48 Q&A blogs) - All the questions you were afraid to ask
(101 Q&A blogs) - Client Testimonials
(18 Q&A blogs) - Contract Questions
(21 Q&A blogs) - Learn About the Area
(31 Q&A blogs) - Negotiation Techniques
(13 Q&A blogs) - REO Foreclosure Listing Q&A
(4 Q&A blogs) - Tax Questions
(8 Q&A blogs) - The Buying Process
(66 Q&A blogs)
- All the questions you were afraid to ask
(23 Q&A blogs) - Client Testimonials
(1 Q&A blogs) - Contract Questions
(3 Q&A blogs) - The Selling Process
(18 Q&A blogs)
A message from Daniel:
Buying A Home
All About Home Financing & Loans (48 Q&A blogs)
Wondering how the lending process works? Wondering if you should pay any 'points'? Jump in for the answers.
All the questions you were afraid to ask (101 Q&A blogs)
If you're a first-time home buyer, indulge yourself with answers to all the questions you were afraid to ask!
Client Testimonials (18 Q&A blogs)
Read some glowing Testimonials from clients who have used our services to buy a home!
Contract Questions (21 Q&A blogs)
Contracts can be scary things! But after you read through this section, you should be much more comfortable with the process, and we're always just a phone call away!
Learn About the Area (31 Q&A blogs)
Curious to know about certain areas? Find your answers here. This is especially useful if you are buying from out of town.
Negotiation Techniques (13 Q&A blogs)
One of the things that makes DROdio agents so special is our strong emphasis on negotiation. Many Realtors (especially the "weekend warriors") aren't too good at negotiating you a stellar deal. We'll reveal some of our secrets here. If you're a Realtor from competing company and you're reading this section, you should be ashamed of yourself! Then again, maybe you really need the help, so read on...
REO Foreclosure Listing Q&A (4 Q&A blogs)
Our firm sells REO foreclosure properties from multiple banks. This section is dedicated to common questions & answers from both buyers and REALTORS representing buyers in these transactions.
Tax Questions (8 Q&A blogs)
Aaaaahhhhh, taxes. Our favorite. Here are tips & tricks to minimize your tax burden. Note: we are not CPA's, so these are just general observations from our experience. But *please* speak to your CPA to discuss your specific tax situation.
The Buying Process (66 Q&A blogs)
How exactly does the buying process work? What should you expect? Whether you're a first time home buyer or you've done it several times, you'll find plenty of gems of information squirreled away in this section.
Selling A Home
All the questions you were afraid to ask (23 Q&A blogs)
If this is the first time you've considered selling your home, you probably have lots of questions that you're afraid to ask. Fear not, your answers are here!
Client Testimonials (1 Q&A blogs)
Read some glowing Testimonials from clients who have used our services to sell a home!
Contract Questions (3 Q&A blogs)
This time we'll address contract questions from the seller's point of view. What makes a contract strong vs. weak? How do contingencies work, and which ones are dangerous? These questions and many more are answered in here, so come take a look!
The Selling Process (18 Q&A blogs)
When should you list your home? How do you price it right? How do you get maximum exposure? Find answers to life's questions here... well, at least when it comes to selling your home!
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