Real Estate Expert Answers - DROdio Real Estate, Inc., VA/MD/DC

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Real Estate Broker/Owner - DROdio Real Estate, Inc
Thoughts from the head of an Entrepreneur: How I'm trying to effect positive change on the world. Full blog at DanielOdio.com/blog Visit DROdio.com:

ARCHIVED BLOG POSTS

2007 

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 co...
08/19/2007
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A plat is basically a blueprint diagram of a community showing the layout of all the lots. Many buyers say “plan” mistakenly, but the correct term is “plat”! Here’s a sample Plat (click to enlarge): Do yo notice the dotted lines inside each lot? Those are the building restriction lines; you can’t...
08/19/2007
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 o...
08/19/2007
Yes, here are our video tutorials: How to buy Foreclosure homes. How to use BirdsEyeSearch.com. How to use TheBestHomeSearchEver.com. Making a lowball offer on a home. How Realtor commissions are paid. Investor cash flow tool. How to buy a house like a Realtor would
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 w...
08/19/2007
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The information below is courtesy of Federal Title. You can find the complete page here. Transfer Rates/Recordation Taxes for DC, VA & MD DC Purchase Transactions DC Recordation is calculated using the purchase price.Transactions $399,999 and under are taxed at the rate of 1.1% of the purchase pr...
08/19/2007
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 that: The tenant has the right...
08/19/2007
Maryland does not have a homestead deduction. Virginia does have a homestead deduction but it works differently. It has a limit of $5,000 in value. You can see what this site wrote about it: For Virginia, the homestead exemption is limited to $5,000 in value. The exemption does not apply against ...
08/19/2007
There are several ways to find out how much a property is worth. The “in-depth” way to do it is to do an analisys of comparable sales. We have a special, proprietary spreadsheet model that allows us to evaluate the last 100+ sales in an area based on the price per square foot (PSF), tax assessmen...
08/19/2007
A client of ours wrote: “Do you think I could get a condo on the orange line for under $300k? Areas: Roslyn, Courthouse, Clarendon, Va Sq, Ballston. Looking for a 1BR. Must be less than 10 or so years old. Mid or high rise. Decent community & amenities. Doesn’t need to be brand spanking new.” We ...
08/19/2007
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Full blog at DanielOdio.com/blog

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