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

Real Estate Broker/Owner - DROdio Real Estate, Inc
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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...
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...
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...
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 ...
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...
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 ...
Searching properties in Washington, D.C. can be hard because there aren’t “cities” like in regular states, but instead there are “neighborhoods” (like DuPont or Capitol Hill, etc.). Since the Realtor MLS system isn’t set up to search by “neighborhood”, we’ve compiled a list of zip codes that corr...
Interviewing Realtors? Ask other Realtors if they can sign this Bill of Rights (Our guess is that they won’t be able to) Dear Buyer, We believe the following should be obvious client rights. Unfortunately, most real estate firms won’t be able to commit to these simple items: No ABA’s (Affiliated ...
The home inspection process can be very confusing, and rightly so. There are many components to it, so here’s our overview to help you know what to expect. The first & main thing to remember about a home inspection is that it’s known as a “contingency”, meaning you have to get it done within a c...
Closing (also referred to as “settlement”) is a mysterious thing for most buyers & sellers, especially if they’ve never been through the process before. Here’s a little primer: The settlement company is an independent 3rd party that coordinates everything for settlement. They are the “quarterback...

Daniel Odio

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