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

Bank of America offers an amazing homebuyer program which allows you to get up to 100% financing with one primary loan (not a “piggyback” loan), put no money down, pay no Private Mortgage Insurance, along with a below-market interest rate (yes - we couldn’t believe it either when we first heard a...

A client was buying a new construction home and was trying to get a really good price on the home. She had a number of questions about the property. Below was our answer to her; this should give you a better idea of how we approach negotiations with builders: Note - “Jane” was the name of the sal...

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:...

Sometimes we have clients ask us if we offer rebates. The answer to this question is more complex than you might imagine. Here’s a whitepaper from our broker on the topic: When I started doing real estate (I was just an agent at this point, not a broker), I’d give a rebate to anyone who would giv...

A client wrote: is it ok with moving on the same day? I think you mentioned a final “walkthrough” inspection. Do we check the house before or after the closing? Our response: Settlement is at 1pm. We’ll need to schedule a final walkthrough before settlement - how does 12pm noon sound? It should o...

Below is a GREAT email we got from a prospective buyer considering using us as her Realtor. Below is her email with our responses - every buyer should be asking these questions! 1- Are you a full-time professional Realtor? How long have you been in the business? RE #1. I am a full-time Broker (a ...

Buying raw land is something that only a very dedicated buyer should attempt. Here’s why: 1) Zoning: You have to find out if the property is zoned for the type of structure you want to put on the land. If it isn’t, the process can be difficult to get the land re-zoned 2) Contractors: You’ll have ...

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 dis...

Here is a sample approval letter from Patrick Collins at First Savings Mortgage Corporation. He is one of several lenders we recommend to buyers. DROdio - sample loan approval letter One reason we really like Patrick’s approval letter is because it specifically states that it complies with Paragr...

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 ...