condo buying: Considerations for the condo buyer
- 09/10/09 11:06 PM
What matters in a condo varies by the person, but questions tend to draw from the same pool of questions: What amenities are included. Is there a pool? Tennis court? Exercise room? Are there areas I can walk my dog? Is heat electric or gas? Do condo fees include utilities? Electricity? If there is carpet, are there hardwood floors underneath? Is the washer and dryer in the unit? On the same floor? In the basement? If buying, what are the condo fees and taxes? Where is the closest bus stop? Metro stop? While condition of the unit is critical, a … (6 comments)
condo buying: Earnest Money or "what is EMD"?
- 02/21/09 10:33 PM
I recently had a client ask me what "EMD" was. EMD is an acronym for Earnest Money Deposit. Earnest money is money paid by the buyer to a neutral fund to show that the buyer is serious. This money is paid at the time that an offer is made to purchase a property. The buyer pays this money into an "escrow account" to indicate that this the offer is serious and real. The earnest money is deposited into an escrow account. An escrow account is a neutral bank account. Depending on the terms negotiated the earnest money can be held by … (1 comments)
condo buying: Closing Costs --- What exactly do the buyer and seller have to pay for?
- 01/23/09 11:23 PM
Firstly and mostly the average consumer should know that all closing costs are open to negotiation. This means that in any given contract, any expense can be paid by either the buyer or the seller. However, there are costs that typically related to the purchase and those are paid by the buyer. Likewise there are costs related to the sale and those are most usually paid by the seller. Here's a list some of the typical concerns for real estate purchases, with specific notes for the condominium purchaser. Some of these (like Home Inspection) are optional and a few of these … (0 comments)
Neighborhood notes, local features and tips for buyers, sellers, renters and landlords in Northern Virginia especially Alexandria, Arlington, Fairfax and Falls Church. Including fast and free property search tools.
What matters in a condo varies by the person, but questions tend to draw from the same pool of questions: 
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