Virginia, Maryland and Washington DC Real Estate Search

Portfolio Realty is a premier real estate firm serving Virginia, Maryland and Washington DC. The DC metro area real estate market demands high levels of skill, proficiency and knowledge. Whether you are eager to buy your first home, sell your nest egg, invest or relocate to the area, it is important to protect your investment by working with a local market expert.
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Common Questions????

Common Real Estate Buying QuesitonsWe’ve got the answers to the top 5 common questions among home buyers in the Washington D.C. Metro area. So without further ado, here are the five most common questions:

How do I find out my price range?

Determining your price range is the first step you want to tackle when you’re buying a home. By knowing how much you can afford, you’ll avoid falling in love with a home that will make you ‘house poor’. For starters, you should contact a lender to get pre-approved and get an explanation of the tax savings when you buy a home.

Do I need a real estate agent?

Absolutely. Buying a home is probably the biggest financial transaction you will ever make in your lifetime. A knowledgeable Realtor® will guide and educate you with their years of experience in the Northern VA & Washington D.C. local markets. Our Realtors® will assist you with finding that perfect home with your desired attributes, write up the purchase agreement, handle negotiations with the seller, accompany you on the home inspection and be there with you at settlement and beyond. With Portfolio Realty, you’ll be a client for life, not just for a month or two. We are always available for advice and will constantly update you on the local market conditions. Another perk that many home buyers don’t know is that our services are FREE when buying a home.

How do I research the asking price?

If you have a Portfolio Realtor®, you will not have to research on your own when trying to validate an asking price. Part of the services we provide as your Realtor® is to look up recent comparable sales in the area. This will give you an idea of the current market value and a reasonable offer. Your Realtor® will also provide reasons to support your offer in case the seller is unreasonable.

Which type of mortgage loan should I choose?

We know a lot about mortgages and the options that are available, but we aren’t the ones lending you money. So with that said, we’re not the experts when it comes to the financing side of your home purchase. However, we can provide you with an overview of some options you have. The two main types of mortgages are fixed rate mortgages or adjustable rate mortgages (ARM). As a rule of thumb, if you’re going to be in the home for more than 5 years, it’s a good idea to get a fixed rate mortgage. We’re going to leave the more detailed questions up to the lenders.

What happens at the real estate closing?

Closing is also called ‘Settlement’, which is when all monies change hands and the ownership of the property transfers from the seller to the buyer. The HUD-1 settlement statement is reviewed with the settlement attorney or title agent at this point. Your real estate agent should preview this prior to closing to alleviate any problems that may arise at the settlement table. All fees and closing costs are paid and the deed is transferred to reflect the new owner. Documents are signed and the keys are handed over to the buyer.

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