This regularly scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Video summaries of some articles can be found on YouTube on the Eli Residential channel. Enjoy!
Question: What is the status of the Realtor commission lawsuits and the resulting changes?
Answer:
Lawsuit/Settlement Background
The residential real estate industry, nationwide, is in the process of transitioning to a new era of how Realtor commissions are structured, specifically the model for buyer agent compensation. The changes stem from the industry-wide settlement of multiple class action lawsuits and years of pressure from the DOJ, which I explained in depth in this article.
At the heart of the settlement is an issue with the model for buyer agent compensation in most real estate transactions. For decades, when a seller signed a listing agreement with a real estate agent to sell their home, it was common practice for them to agree to a fee that would be divided (usually evenly) between their agent and the agent who represented the buyer. The fee for the buyer’s agent gets entered into the MLS (database of record used by agents) and is enforceable by the MLS and local Realtor Associations.
No More Offers of Compensation for Buyer Agents
The judges in the class action lawsuits and the DOJ believe this practice was anti-competitive so a settlement was reached with the Realtor industry to decouple the seller agent and buyer agent commissions by preventing the advertising of offers of compensation to buyer agents via the MLS.
The settlement is explicit in eliminating offers of compensation to buyer agents in the MLS, but there is legal debate over whether the settlement prevents offers of buyer agent compensation off the MLS — the DOJ and many attorneys argue that the intent of the settlement is to eliminate all offers of compensation to buyer agent, via any channel not just the MLS.
Join us this Sunday, July 14 as we celebrate Bastille Day at Arrowine with a special French Wine Super Tasting and a pop-up tasting featuring Kingsbury Chocolates!
Stop in and sample the award-winning French wine selections of Elite Wines Imports. Selections include famous wines like Sancerre and Châteauneuf du Pape and other French wine regions like Burgundy, Bordeaux, Rhône Valley, Languedoc, and Loire Valley. There is no charge for this Super Tasting event, and tasting discounts are “ON,” so you can save on every bottle you try.
We will also have the Legendary Rob Kingsbury with his French-themed chocolate masterpieces to round off the celebration!
Bastille Day & Kingsbury Chocolates Tasting
Details
Time: 1-4 p.m. on Sunday, July 14 Place: Arrowine & Cheese Reservations: Click the linked times below to respond and include the following information: Name(s), Email address, Number of people in your group, and when you like to attend: (a) 1-2 p.m., (b) 2-3 p.m., or (c) 3-4 p.m. We will confirm your reservation by email.
Timed Attendance — Sunday Super Tasting
We care and want to keep things moving as smoothly as possible. Sign up for your time slot below.
Just Listed highlights Arlington properties that just came on the market. This biweekly feature is written and sponsored by Coral Gundlach Homes.
Hello Arlington!
Coral Gundlach here with Coral Gundlach Homes at Compass in Arlington. I’ve been an Arlington homeowner since 2001 and a Realtor since 2004. I love this real estate market, even though it has its challenges.
The numbers this week are starting to show a trend. We have increases in inventory in all segments. Fourteen more new listings than two weeks ago and the Under Contract/Pending listings are down to 35 from 46 two weeks ago. That is showing a general softening of the market. There are always exceptions, but these numbers should give frustrated buyers some hope and make sellers think twice about how to price their new listings.
Here are the numbers as of the time of writing: Friday, July 12 at 11:15 a.m.
All active listings in Arlington: 301 (up from 291 two weeks ago)
New listings in the past week: 74 (up from 60 two weeks ago)
Under Contract/Pending in last week: 35 (down from 46 two weeks ago)
All active detached listings: 113 (barely down from 114 two weeks ago)
New active detached listings: 30 (way up from from 16 two weeks ago)
All active townhouses, fee simple: 41 (up from 32 two weeks ago)
New active townhouses, fee simple: 11 (up from 10 two weeks ago)
All active condos/co-ops: 149 (up from from 139 two weeks ago)
New active condos/co-ops: 32 (up from 31 two weeks ago)
The average cumulative days on market (CDOM) for both Active Under Contract and Pending sales went up to 41 from 29 two weeks ago. CDOM includes homes that were withdrawn and re-listed. Homes that went straight to Pending (meaning no contingencies) averaged 36 CDOM, up significantly from 12 CDOM two weeks ago, and those that went Active Under Contract (with contingencies ) had an average of 44 up a little from 41 CDOM.
Thirteen detached homes closed in the last week, compared to 18 two weeks ago.
Average CDOM for the closed homes was 26 compared to 44 two weeks ago and they sold for an average of 98.2% of original asking price compared to 98.9% of original asking price two weeks ago, and 99.3% of current asking price compared to 101.9% of current asking price two weeks ago.
As far as trends go, even though the CDOM is lower for sold homes than two weeks ago, the average list price to sales price ratio is down again. Not a lot, but it is something to keep tracking to see if this market keeps tilting ever so slightly to the buyers’ favor.
Contact Coral Gundlach Homes today at (703) 200-3631 or email [email protected] to talk more about buying or selling Arlington real estate.
Today’s featured listing is a sunny and affordable one bedroom in the popular Residences at Liberty Center in the heart of Ballston, 888 N Quincy Street, Unit 1407,listed for $489,000 by Shawn Battle and Matt Leighton of Real Broker.
It has fabulous Ballston city views from the 14th floor and features significant updates such as a new HVAC, appliances, water heater all between 2022-2024. It also has hardwoods, balcony and a dedicated parking spot, in unit laundry — pretty much all the condo living must haves. Monthly fees are $521 and there is a one time capital contribution of $1,042. The fees pay for water and trash, and amenities like a security, gym, party room and rooftop pool. This is all walking distance to shops, dining and Metro. It is open Saturday, July 13 from 1-3 p.m.
Want to see more Just Listed properties? Interested in an Open House this weekend? We’re happy to show them to you privately! Click here or contact Coral Gundlach Homes.
Please note: While Coral Gundlach Homes provides this information for the community, they may not be the listing agents of these homes. Equal Housing Opportunity.
Address:6108 22nd Road N. Neighborhood: Overlee Knolls Type: 4 BR, 2 BA single-family detached — 2,800 sq. ft. Listed: $1,175,000
Noteworthy: Updated home on 9,400 sq. ft. cul-de-sac lot in Tuckahoe Swanson Yorktown pyramid
Spacious four level split offers extensive updates since 2023 — water heater, air conditioning and compressor, two completely re-configured and renovated bathrooms, laundry area with cabinets, farm sink, folding counter, cork backed LPV flooring, insulation, new doors and spot for a desk; lighting and blinds along with fresh paint, refinished wood floors on two levels.
Large family room with gas fireplace and high ceilings opens to large deck and patio surrounded by greenery and second door to driveway. Three large bedrooms upstairs and quiet primary bedroom with three closets. Lower level rec room has built-ins, third fireplace, and areas for media, workouts and play.
Near Overlee Pool, Tuckahoe Park and Playground, and stroll along the Greenway to Westover Village’s Library, shops, restaurants, bike path and Sunday farmer’s market. Easy commute to Washington, government, military and business centers and National Airport. Great reverse commute to Tysons, Dulles Airport and Tech Corridor.
An appealing home in pristine, move-in condition and desirable location.
Each week, “Just Sold Condos” spotlights condos in Arlington that have sold over the previous week. The market summary is crafted by Rick Bosl, the Arlington Condo Expert, founder of ArlingtonCondo.com, and an agent with KW Metro Center. Contact Rick and make your next move the right move.
Welcome to Just Sold Condos in Arlington!
Last week was a shortened week for condo sales with the Fourth of July holiday in the middle. Still, there were 14 condo closings in Arlington. Settlements typically only take place on non-holiday, weekdays.
The highest priced condo to close last week was Unit #1001E at Lexington Square (in the 3835 9th Street N building), which sold for $780,000. This was a 3 BR/2 BA corner unit with just over 1,252 sq. ft., one parking space and a storage unit.
On the other end of the spectrum, the least expensive condo to sell was actually a cooperative (aka co-op) — a studio at River Place in the north building sold for $140,000. The studio was only 425 sq. ft. but nicely updated. For a pied-à-terre or student housing, it works out just fine.
A few sales from last week:
Lexington Square — 3835 9th St. N #1001E, 22203 — $780,000
Atrium — 1530 Key Blvd. #927, 22209 — $535,000
West Village at Shirlington — 4111 S Four Mile Run Dr. #103, 22204 — $510,000
Colonial Village — 1913 Key Blvd. #11572, 22201 — $308,900
River Place — 1121 Arlington Blvd. #801, 22209 — $140,000
Arlington is unique in that there are wide price ranges between neighboring buildings. In Rosslyn, you can have a studio at River Place selling for $140,000 just a few blocks away from a $4.75 Million condo at Turnberry Tower.
Last week also marks the end of the first half of 2024. What does the data say? Did you know ChatGPT 4.0 can now analyze spreadsheets? I exported all the 2024 condo listings from the first half and ran it through Chat.
I started with some basic stats that I could also verify (they do), like:
What are the average and median sales prices?
Average sales price: $546,350
Median sales price: $475,000
What is the average days on market?
57 Days
What are the number of listings for each status?
Sold: 637
Active: 111
Under Contract: 82
Expired: 75
Cancelled: 30
Withdrawn: 25
Coming Soon: 3
Temporarily Off: 3
Then I got a little creative and this is where ChatCPT 4.0 really shines. I asked it to tell me the top 5 selling condo buildings based on sales price, days on market and the close/original price ratio. Only use buildings with at least 3 sales.
Here is what I got back:
Cambridge Courts
Average Sales Price: $331,000
Average DOM: 25.67 days
Average Close/Original Price Ratio: 1.051
Williamsburg
Average Sales Price: $646,633
Average DOM: 33.67 days
Average Close/Original Price Ratio: 1.031
Southampton
Average Sales Price: $698,125
Average DOM: 28.25 days
Average Close/Original Price Ratio: 1.025
Fairlington
Average Sales Price: $567,620
Average DOM: 35.34 days
Average Close/Original Price Ratio: 1.025
The Arlington
Average Sales Price: $417,100
Average DOM: 43.56 days
Average Close/Original Price Ratio: 1.022
Read more here to see what else Chat has to say about the first half of 2024.
Please note: While ArlingtonCondo.com provides this information for the community, they may not be the listing agent of these homes. Equal Housing Opportunity.
The summer heat can be relentless day and night, but a brief respite is on the horizon!
If you’ve been hoping to get out for some fresh air, enjoy free films under the stars during Columbia Pike Movie Nights, Fridays and Saturdays from July 12 through August 24.
The series takes place at two locations: Fridays at Arlington Mill Community Center and Saturdays at Penrose Square. There’s something for everyone, from comedies and documentaries to musicals and adventure films!
This is the 13th season of free outdoor movies sponsored by the Columbia Pike Partnership. Opening weekend features “Hairspray” on Friday, July 12, at Arlington Mill and Dirty Dancing on Saturday, July 13, at Penrose Square. The following weekend will showcase “Vivo” on Friday, July 19, at Arlington Mill and Disney Pixar’s Coco on Saturday, July 20. Columbia Pike Movie Nights continue through August 24.
All movies begin at sunset (between 8 p.m. and 8:30 p.m.) and are shown in English with Spanish subtitles. Attendees are encouraged to bring their own chairs and blankets. Leashed pets are welcome, but alcohol is not permitted at either Arlington Mill or Penrose Square. In case of inclement weather, please check this page and our social media channels for updates around 3:30 p.m. on the day (s) of each screening.
For more information about Columbia Pike Movie Nights, visit the Columbia Pike website.
Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!
Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.
As of July 8, there are 126 detached homes, 34 townhouses and 137 condos for sale throughout Arlington County. In total, 19 homes experienced a price reduction in the past week, including:
Please note that this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.
This regularly scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Video summaries of some articles can be found on YouTube on the Eli Residential channel. Enjoy!
Question: Do you think it is a good idea for our condo board to consider setting a cap on the number of units that can be rented at a given time?
Answer: One of the most common debates within condo buildings is whether an Association should limit the number of condo units that can be rented concurrently. There are some benefits of limiting the number of owners who can rent out their unit(s), but I think it’s the wrong decision for most buildings because it can hurt property values and is unnecessary, in most cases.
For the sake of clarity, when I refer to rental/investor units in a building, I am referring to individual unit owners renting their unit(s) out to tenants instead of occupying it themselves (they are considered investors).
Lending Misinformation
There is a lot of misinformation out there about how the number of rental units in a building effect the warrantability of a building (ability of future buyers to secure a mortgage). Here are the limits you need to be aware of:
Fannie/Freddie Loans: Conventional loans backed by Fannie Mae/Freddie Mac do not have any rental limits for primary and secondary home loans. They limited the number of rentals in a building to 50% for investor loans only.
VA (Veterans) Loans: No rental limits. The VA does not like seeing rental caps and may not approve a building for VA loans if they do have rental limits in place.
FHA Loans: FHA loans are restricted in buildings with more than 50% of units rented. FHA loans represent a small percentage of the loans written in this area.
Jumbo/Private Loans: High balance loans (over $970,800 loan amount), not insured by Fannie/Freddie, have a wide range of guidelines. Some have rental restrictions and others don’t, but in general jumbo/private loans tend to have more conservative lending guidelines and a higher chance of restricting a loan due to the number of units being rented. However, many banks will make exceptions, especially with higher (30%+) down payments and there are many alternative lending options in the jumbo/private arena a buyer can choose from.
Pro: Better Quality of Living
Owner-occupants generally invest more in their home, take better care of common areas, and take more pride in developing a strong social community. In small associations or those intent on maintaining a certain standard of living, quality of living may prevail over property value.
Cons: Buyer Turn-Off, Forced Sales
Many buyers want to keep their options open to renting a unit out after they are done using it as their primary residence and are turned off by the idea of a rental cap and plenty will not buy in a building if there is a cap, even if it’s unlikely to be reached. By turning otherwise motivated and qualified buyers away, you’re bound to hurt the market value of units in your building.
If a rental cap is reached and enforced, it can hurt market values even more because homeowners are forced to sell if they move out and a forced sale may result in a homeowner agreeing to take a worse deal when they would have otherwise chosen to rent the unit until they can sell into a strong market.
Track Rental Activity in Your Building
Even if you do not have a rental cap, it’s still important to track which units are being rented out. At a minimum, your Board/Management should receive a copy of each lease and keep a basic spreadsheet to be able to report on which units are being rented. In my experience, I have found that most buildings in Arlington settle into a rental percentage of 20-35%. In rare cases, I see higher rental percentages, sometimes exceeding 50%.
If you’re considering a rental cap, it’s important to know the current and historical trends for rental percentages, without a cap in place. It would be a big mistake to implement a rental cap that is at or above the “natural” rental percentage of your building because your community wouldn’t gain anything from it, but risks the downside of turning off potential buyers.
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.
This sponsored column is by Law Office of James Montana PLLC. All questions about it should be directed to James Montana, Esq., Janice Chen, Esq., and Austen Soare, Esq., practicing attorneys at The Law Office of James Montana PLLC, an immigration-focused law firm located in Falls Church, Virginia. The legal information given here is general in nature. If you want legal advice, contact us for an appointment.
With the 2024 campaign in full swing, we want to provide ARLnow readers with overviews of both candidates’ proposals concerning immigration law and policy.
This week, we’ll review the Trump campaign’s (unofficial) immigration policy platform, as laid out in the Project 2025 Presidential Transition Project.We’ll first tell you what they say they’ll do — and then offer our educated guess about whether each candidate can actually deliver on their respective promises. Stay tuned next week for our review of the Biden Administration’s immigration policy platform — that is, of course, assuming that President Biden stays in the race.
Here we go again! (Photo from public domain, courtesy of Voice of America.)
First Proposal: Dismantle and Reconstitute the Department of Homeland Security as an Enforcement Agency
The Mandate for Leadership (MFL) starts with a simple proposal: break up DHS and reassemble it. In essence, the MFL envisions a new enforcement-focused agency with the following components (current departments at right, in parentheticals):
Customs and Border Protection (DHS)
Immigration and Customs Enforcement (DHS)
Office of Refugee Resettlement (Department of Health and Human Services)
Immigration Courts (Department of Justice)
Office of Immigration Litigation (Department of Justice)
The MFL suggests that the following agencies currently housed within DHS be split and reallocated as follows:
FEMA goes to the Department of the Interior
The U.S. Coast Guard goes to the Department of Justice or the Department of Defense
The Secret Service be split between the Department of Justice (protective operations) and the Department of the Treasury (counterfeiting and other financial crimes)
The TSA will be completely privatized
Congress would have to act for these recommendations to be put into action, so the plausibility of this reorganization depends on the composition of Congress.
We would like to note one item which hasn’t received enough attention: under this reorganization, all government components of the U.S. immigration courts — prosecutors, judges, and appellate litigators — would be subject to the authority of a single Cabinet-level official. This would help the Trump Administration to exert pressure on the immigration courts to serve as implementers of policy, rather than independent adjudicators of law.
Second Proposal: Eliminate T and U Visas
The MFL’s proposal for T and U Visas is simple: eliminate them, because “victimization should not be the basis for an immigration benefit.”
T visas, under the current law, are available for victims of human trafficking; U Visas, under current law, are available to victims of qualifying crimes (generally, serious felonies) who cooperate with law enforcement in the prosecution of the perpetrators.
The MFL proposes that S visas (currently designated for witnesses) be used as a substitute for U and T visas in the most serious cases. This would result in a quantitatively enormous reduction, because, under current law, S visas are restricted to 200 per year in ordinary criminal cases and 50 per year in terrorism-related cases. Under current law, 10,000 U Visas are available annually, and 5,000 T Visas are available annually.
Would this work? Probably yes, in practice. Although both T and U Visas are available as a matter of statute, a new Trump Administration could simply decline to issue them if Congress doesn’t cooperate with legislation.
Third Proposal: Delegate Border Shutdown Authority to the Secretary of Homeland Security
The MFL proposes that, “whenever the Secretary of Homeland Security determines that an actual or anticipated mass migration of aliens en route to or arriving of the coast of the U.S. presents urgent circumstances requiring an immediate federal response,” the Secretary may issue rules without following the ordinary requirements of the Administrative Procedure Act to prevent large numbers of people from crossing the border.
Would this work? Probably not over the long term. The Federal judiciary is generally skeptical of administrative rule-making outside the normal rule-making process. (This is how the Trump Administration’s attempt to repeal DACA was struck down by the U.S. Supreme Court.)
Fourth Proposal: Tighten Asylum Rules and Impose a Fee on Asylum Applications
The MFL proposes a large number of changes to current asylum law and practice, including eliminating the Particular Social Group ground for asylum, raising the credible fear standard to a much higher level, imposing a fee on all asylum applications, and codifying the previous Trump administration’s asylum bars and third-country transit rules.
Would these work? It’s hard to say, because each one is subject to separate potential legal challenges. In general, the proposed changes are incompatible with current U.S. law and treaty obligations, so these changes would, in the main, require an act of Congress.
There’s more — much more! — in the MFL. We encourage you to read for yourselves and make your own judgment about the immigration policies of a potential Trump Administration.
As always, we are grateful for your questions and comments, and will do our best to respond.
On Thursday, Arlington Economic Development (AED) was pleased to celebrate the latest recipients of Catalyst Grants from the Arlington Innovation Fund (AIF).
After a thorough review process, four Arlington-based startups were awarded $175,000 in grants. These companies have shown exceptional promise in innovation and potential for significant impact in their respective fields.
The Catalyst Grants from this round represent yet another significant investment in the growing tech-entrepreneur ecosystem of Arlington, further underscoring AED and the County’s commitment to supporting local innovation and fostering economic resilience. Funds awarded through the Catalyst Grant program can be used for any business operation expenses incurred by the startup. They may include adding employees, purchasing equipment, leasing office space, hiring consultants or advisors, etc.
“We are thrilled to support these pioneering companies in their journey to scale and innovate,” said Michael Stiefvater, Director, Business Investment Group. “Their commitment to groundbreaking solutions drives innovation within their industries and propels the economic growth and development of the entire Arlington community. By fostering such innovative enterprises, we are building a robust and resilient ecosystem that benefits all residents and businesses in Arlington.”
Data Parrot, AI company, enhances businesses’ understanding of customer data. Their platform transforms raw CRM (Customer Relationship Management) data into actionable insights, driving value through dynamic dashboards and strategic recommendations.
KnoNap is a health tech company dedicated to combating drink spiking with their innovative beverage drug test kits, drink covers and educational resources. Their comprehensive approach fosters better health and safety outcomes.
Pryze App, an HR-tech company, aims to increase productivity and retention among deskless workers. Their app incentivizes phone-free time and positive actions at work through automation and gamification.
SportAI democratizes analytics for fantasy sports and sports betting. Using neural network AI, their mobile app provides in-depth insights to help users make informed decisions without facilitating gambling.
Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!
Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.
As of July 1, there are 129 detached homes, 38 townhouses and 137 condos for sale throughout Arlington County. In total, 34 homes experienced a price reduction in the past week, including:
Please note that this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.
This regularly scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Video summaries of some articles can be found on YouTube on the Eli Residential channel. Enjoy!
Question: I don’t want to do any work to my home when I sell it. Should I offer is “as-is”?
Answer: Happy July 4th week everybody! I hope your summer is off to a good start, despite the rough early heat wave.
Selling a property “as-is” in Northern Virginia carries a practical purpose and a technical definition, per the contract, that should be discussed between the buyer and seller.
Implied Definition
When you market a property as-is, you are implying that you will not negotiate with the buyer to fix or address anything, and the buyer should be prepared to take on the full risk of the property in its current condition. The buyer should agree to take the property in the condition it is in at the time of offer, without any inspections.
As-is doesn’t always mean the property has problems, sometimes it just means the seller wants nothing to deal with anything during the transaction, but sellers should understand that marketing a property as-is implies that there’s likely problems with the home and the market will usually price it accordingly.
Technical/Contractual Definition
In Northern Virginia’s Contingencies/Clauses Addendum, you’ll find a section for selling “as-is” which contains the following terms that can be individually selected for the contract:
Seller will not clean or remove debris. The standard is for the property to be free of trash/debris and broom clean.
The seller is not responsible for addressing any wood destroying insect/termite issues. The standard agreement requires the seller to pay for any damage from wood destroying insects.
The seller is not required to fix any Homeowners Association violations related to the physical condition of the property.
The seller is not responsible for providing working smoke detectors.
The seller is not responsible for compliance with notices of violation from local authorities.
It’s important to differentiate between marketing and communicating that a property is being sold as-is and actually selling it as-is using the proper contractual clauses to do so.
Who Uses As-Is?
It is common to see estate sales and homes that will be the targeted by investors (tear downs or flips) being sold as-is. In the case of many estate sales, the family member(s) who inherited the property may not live nearby, know anything about the condition of its systems, or want to be bothered by negotiations after a deal has been made.
Understand Your Choice
First and foremost, it’s important for a seller to understand the message they’re sending by marketing a property as-is. Most buyers will infer that the property has issues that will be passed onto them and will discount the value of the home accordingly. In many cases, I talk to homeowners whose home is in good condition, but they want to sell as-is simply because they don’t want to deal with inspection negotiations, repairs, etc. In this case, marketing a home as-is probably is not the right approach and a better approach would be communicating your expectations up-front with a buyer, without calling it as-is.
For buyers who come across an as-is sale, it’s important to ask the right questions. You’ll want to learn precisely what the seller’s intentions are with an as-is sale. For example, will they allow a pre-offer inspection or a void-only inspection after contract? Do they intend to address any HOA violations? Make sure that you are pricing/discounted the value of the home based on the seller’s actual intention and not based on your assumptions.
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.
