Start with a Bugdet

It all starts with determining how much home you can actually afford. In conjunction with your lender or Condominium Mortgage, Will Nesbitt reviews your goals, income, obligations and budget to set realistic parameters.

You'll only spend time looking at homes and condos that you can buy without breaking your budget. Sometimes this involves suggesting additional ways to accrue the down payment. When necessary, we may suggest alternative financing methods and options. [start the application process]

Your Needs, Wants and Wishes

Will Nesbitt listens.

By listening to your needs and wants,he can find the ideal home for you. Will wants to find a space that you can call home. If you're seeking an investment, he won't ask you to bank on "appreciation". Cashflow drives all his investment suggestsions.

Will listens to you to find out the size, style, amenities, features, location that you want. You determine the importance of accessibility to schools, transportation and shopping and other public facilities. Will will ask for the destination of your commute. He asks these questions because the answers make the difference between a good home ... and a good home for you.

Call 703 765 0300 or drop us an email to discuss your needs with an agent who cares about you.

Property Search

Will Nesbitt has access to listings of available homes, townhomes and condominiums. Your agent will evaluate these properties and compare them to your needs and budget. This way, you won't waste time on homes that don't suit your needs. Because of our experience, Will Nesbitt can often suggest simple, imaginative changes that could make a home more suitable for you and improve its utility and value. [property search tools]

Benefit From Our Expertise

Will Nesbitt has access to important information on real estate values, taxes, utility costs, COA fees, municipal services and facilities. Will uses this information to filter properties and then shares this information with you so that you can make your most informed decision possible. Will researches your housing needs in advance through the Multiple Listing Service - even if you are relocating from another city. We also understand the traffic patterns of the Metro area and why some areas are more desirable than others.

Will Nesbitt has no emotional ties to the homes you may be considering. As such, he can be objective about the property and can point out advantages and disadvantages while answering your questions. Will Nesbitt represents you, the buyer, in the transaction. Will Nesbitt will negotiate the most favorable price and terms on your behalf. Will Nesbitt can tell you if local law requires an attorney at closing and can provide you with a list to choose from if you don't have one.

Will Nesbitt will help familiarize you with the closing process by explaining it all in advance. And he will be there with you at closing to make sure that everything proceeds properly. He is part of a network of professional colleagues, such as appraisers, home inspectors, mortgage lenders, contractors and insurance agents - through which you may be more completely served. He shows you only those homes best suited to your needs - size, style, features, location, accessibility to schools, transportation, shopping and other public facilities.

Contact Us

Call 703 765 0300 or email us. We'll care about you.

Five Steps to Buying a Home

Step 1: Defining What You Want
Start by creating a prioritized list of features you want in your home and the reasons why. Use it as your search guide, but remember that depending on your budget and funding, you will probably need to make some compromises.

Will Nesbitt can provide you information about communities which fit your criteria. Of course, location is a huge part of any move. If you're new to the area, keep in mind the distance travelled during your commute is not so important as the time travelled. Traffic patterns favor some neighborhoods while some areas regularly suffer with gridlock. You Will Nesbitt real estate professional can tell you about area amenities, culture and shopping.

Step 2: Figuring Out What You Can Afford
Now that you have an idea what you'd like, it's time to see how that marries up to what you can afford. Most people do this with the assistance of a mortgage professional. If you are considering a Home, make sure that you deal with an experienced lender such as American Affordable Mortgage LLC. Often the preapproval process takes less than an hour, and can be handled over the phone.

Your mortgage professional can tell you how much Home you can afford and what your monthly payments would be. Additionally, a pre-approval letter demonstrates to the seller that you can afford to buy their home. When the seller knows you can move quickly, this often gives you more negotiating power. By definition, a pre-approved buyer has an approved mortgage subject to an appraisal of the property.

To receive free loan pre-approval from American Affordable Mortgage call toll free 1-703 765 0300 seven days a week.

Step 3: Shopping For Homes
Once you know what community you'd like to live in and have an idea of how much home you can afford, it's time to start checking out some actual communities. You can beginning this search online and save time since it can help you target homes that meet your search criteria. You can view virtually every property listed by all real estate companies in the area on this web site. It's one way Will Nesbitt makes home shopping easier for you. We will even notify you by email when properties come on the market that meet your search criteria.

Next, begin visiting homes in person. Ask your Will Nesbitt real estate professional to arrange home showings that are in your target area and price range.

Step 4: Making An Offer
Once you find the home you want, you need to complete a purchase agreement for the property. Typically this is a very difficult and trying time since both buyers and sellers have totally different goals. In most cases it is better to have a third party, such as Will Nesbitt, negotiate the offer.

If you have any personal interaction with the homeowner, don't give out any information about your move, your current housing status, financial status or your feelings about their property - positive or negative. This could hurt you in future negotiations.

Step 5: Closing
In most cases you will also have the option of a "walk through" within 3 days of the closing. This is your chance to make sure that all of the items that you and the seller have agreed upon meet your satisfaction.

Before you arrive at the closing, make sure all the necessary paper work and deposits have been completed. If the mortgage, title work, homeowners insurance and other items necessary are not completed and brought to the closing table, the closing may not happen on time. Once you close, it's official - you own the home.

 

Homeowners are special people

Of course as a homeowner you'll be responsible for maintenance and repairs on the house. As a condo owner, many of these responsibilities are handled by the condo association. Either way, you're the type of person who has taken charge of his or her life. You can paint your wall any color you want. You don't need your landlord's permission to get a cat.

As a homeowner you're more likely to be a part of the neighborhood watch and the garden club. According to some studies, home owners are more likely to vote, and more likely to participate in local government activities. As a condominium owner you have become one of America's landed gentry. According to the Rossi and Weber National Survey of Families, home owners possess significantly higher levels of self-confidence than renters.

Tax advantages are one of the biggest financial benefits of home ownership. The typical home owner that pays a $1,000 house payment will realize tax savings of about $120 each month. (As a general rule, most homeowners can deduct most or all of their interest payments on their home loan, property taxes and loan points, but check with your tax advisor about your situation.) What this means is that next year your rent won't go up, but your liability will go down. Generally if you can afford the cash flow, it's cheaper to buy than to rent. Because you're a homeowner, you know what this means.

This increase confidence and wealth will have an impact on your family life as well. According to Boehm & Schlottmann, University of Tennessee, "Children of home owners are 59% more likely to become homeowners. Their children are also 25% more likely to graduate from high school and 116% more likely to graduate from college."

As an owner, you'll stop paying rent and you'll start building ownership equity. A survey of consumer finance by the Federal Reserve Board found that the median net worth of most modest-income owners is almost $60,000 compared to less than $10,000 for renters in the same income group.

In many cases, your home will provide you with more privacy than rental living. For some, this means a quieter living environment, for others it's the ability to have a grow garden, have a backyard barbecue or a build a garage. You'll have the freedom to make whatever changes or improvements you like. Now that you control your living environment, you can make adjustments as your family changes or just as your personal taste dictates.

The goal

In the end, the goal is happiness, not to have the most marbles.

Buyers Expenses and Responsibilities

All closing costs are open to negotiation and in any given contract can be paid by either the buyer or the seller. But here we list some of the typical concerns for a condominium purchaser. Some of these (like Home Inspection) are optional and a few of these are only required from some buyers (like PMI).

1. Bank costs, including application fee, credit report, appraisal or inspection fee, processing, bank attorney fee.
2. Attorney fee for representation of Buyer interest at settlement.
3. Tax escrow to bank if paying taxes.
4. Adjustments payable to Seller for taxes, oil, water, sewer, rents (if items were paid in advance by seller).
5. Fee for recording deed and mortgage.
6. Homeowners fire and liability insurance policy (sometimes must be prepaid for one year) depending on lender's requirements.
7. Prepaid interest (based on the contract rate in interest and day of the month of closing).
8. Private Mortgage Insurance (PMI) premium (for buyers with minimum down payment, if less than 20%).
9. Mortgage Survey Plan (plot plan).
10. Home inspection.
11. Discount Points (Each point is 1% of the mortgage amount. Discount Points reduce the interest rate).
12. Origination Points (paid to the bank or broker to make the loan).
13. Title insurance.
14. Contact: electric, gas water, oil companies to continue their service. (Often not required for condo's)
15. Well tests are sometimes required by the bank. (Unheard of in a condominium)
1. Quality
2. Quantity (5 Gallon per minute for 4 hours)

Buying Questions? Call 703 765 0300.

We are here to help you.