Fist time Home buyer in Washington DC Area

DCRealtyonline.com

DCRealtyOnline answers the tough questions about today’s real estate market

• So, you’re thinking about buying and selling?

Who is Payam?• My Goal• To provide intensive high quality service to a small number of carefully selected clients.• Employment History• For the past several years I have been assisting clients in finding the “home of their dreams”. My main job is that

of a Transaction Manager. This requires me to guide them through the home buying or selling process, which can be overwhelming at first glance. I must coordinate with other real estate agents, lenders, appraisers, home inspectors and settlement companies to ensure that all the details of the transaction are completed. This includes writing and negotiating offers for both sellers and buyers. I am currently the Manager of the Logan Circle office in downtown DC. I am licensed in Maryland and Washington, DC.

• As the Computer Analyst system at National Academy & Hanley wood in Washington, DC, I was responsible for Maintain & Track Computer Security and other maintenances. This required interacting with more than 300 users to develop relation ship with them & resolve their computers concern. I worked with and IT groups whiting the institutes to discuss prevention strategies, against computer bugs and computer security related.

• Education• Over 10 years of customer service & Client relations experience• Established Real Estate Online services.• Computer Networking, and Other related certifications• BS in Computer & Electric sciences • Personal Information• Originally from Iran & Grow Up In Israel , I have made my home in Washington, DC for the past 13 years.• There are so many things that I love to do…Boating, Fishing, cook, traveling, Home remodeling and Dogs…just to

name a few.• I live in the Shaw/Logan section of Washington, DC with my two dogs.

Concerns & Questions

What concerns or questions may we answer before we get started?

What we’ll cover …

• Real estate agency laws (and how we get paid!)

• Buying a home in today’s market

• Selling a home in today’s market

• Timing and settlement• The current real estate market

Thoroughly boring agency laws

• In DC & VirginiaThe legal presumption is that the buyers’ agent represents the SELLER.

• In MarylandThe legal presumption is that the buyers’ agent represents the BUYER.

How do agents get paid?

• Where does the commission come from?

• Who pays the commission?

• When is the commission owed?

• When is the commission paid?

Buying a home in today’s market

Buying first vs. selling first

• Considerations– Financing (HELOC or bridge loan)– Renting?

• Advantages– Easy to stage– Easy to arrange access

• Disadvantages– Uncertainty of today’s market

DC TAX CREDIT

• $5000 DC TAX • NOT OWN PROPERTY IN DC FOR PAST

ONE YEAR• SALARY - $70K OR LESS FOR SINGLE• SALARY - $110K OR LESS FOR

MARRIED

FEDRAL TAX CREDIT IN DC

• $8000K FOR FIRST TIME HOME BUYERS

• NOT OWN IN DC FOR PAST 3 YEARS• $145K OR LESS FOR SINGLE• $245K OR LESS FOR MARRIEDExpands the credit up to $6500 to current Home owners purchasing before April

30th, who have used the home being sold as principal resident for five consecutive years within the last 8 .

The home-buying process

If you ask us to represent you as your exclusive buyer’s agents, we immediately initiate the following process …

• We’ll set up an automatic MLS search

• We’ll begin sending you periodic e-mail updates with new listings


You’ll begin to narrow your search by vetting locations and neighborhoods– Drive by

– Walk by

– Internet research


• As you begin to see provocative listings, e-mail us.

• We will make arrangements for you to see those listings.

• “Wet hair, lather, rinse, repeat.”


• After we repeat this process a few times, you’re likely to find the home of your dreams.

• You may have some questions that you’ll want to have answered.

• Reconnaissance!


• Writing the offer (2 hours)– Price– Terms– Earnest-money

deposit check

• Presenting the offer– To the seller– To the agent– To the fax machine!


• Negotiating the contract• Ratifying the contract!

First, the anti-climax …

• Then, the freak-out stage

• “What on earth have I done?!?”• This is NOT buyer’s remorse!• Perfectly natural

From contract to closing

• Three to six weeks after ratification• Inspections (home/termite)• Loan application and underwriting

– Don’t quit your day job. Seriously.– Don’t max out your credit cards at

the Storehouse or Ikea. Seriously.– Don’t buy a new car. Seriously.

• Appraisal & certifications• Title history• Insurance

Congratulations

• On Your Home Purchase• Working with DCRealtorOnline• If you were happy from our Service,

Please refer your Friends and Family Members.

Fist time Home buyer in Washington DC Area

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