Here are some questions you can use to translate your home inspector’s findings into understanding your new home, how to negotiate with the seller for the important repairs, and how to maintain your home after settlement.

It is not enough to get the Bethesda home for sale under contract with that pre-approval letter from your lender. You have to keep your credit intact between your initial loan application and settlement to close on the DC condo. Buyers, and not just first time home buyers, commonly do things that jeopardize the safe and timely close of their mortgage loans because no one ever told them about the bomb craters out there waiting to derail their settlement. The “don’t do” list includes several things that adversely impact credit scores, and your lender may run your credit more than once, so keep it pristine – at least until after settlement!

Now that your home is under contract, it still has to appraise for the sale price. It is very important to understand how a real estate appraisal can affect your real estate transaction as you move forward toward settlement. An appraisal is an estimation of a property’s value in relation to other homes for sale in Bethesda. It is primarily used by mortgage lending institutions to assure them that there is sufficient value in the property to cover the amount that a buyer will be borrowing. We are lucky in Bethesda, Chevy Chase, and other areas close in to DC. There are not many foreclosures for sale in Bethesda or Chevy Chase. Most buyers, including first time home buyers, are well qualified.

New construction can be wonderful too, but you need to go into the contract with your eyes wide open and with someone on your side. Make sure you bring along a buyer’s real estate agent – someone who works for you and is looking out for your best interest.

Your neighbors can help sell your home – or they can hurt the sale. When most homeowners contemplate selling their homes, they understand the importance of getting their home ready to show off. But how do you deal with the property next door? The one with the shoulder high weeds, the rusty car on blocks in the front yard, or the vicious dog leaping at the fence. The house next door can have a significant impact on your ability to sell your house.

When you have an appointment with your Realtor, please keep it – or cancel it with enough time to save him or her from driving all the way to meet you for no purpose. Chances are that your Realtor could have filled that now empty time with another client – or family – or just gone to the grocery store.

Agents who want to ensure that they have a legal and binding agreement that allows them to represent a buyer exclusively, and be paid for their efforts, will ask a buyer to sign an exclusive buyer broker agreement.

What happens next? The GCAAR contract (the one used most frequently in the DC metro area) provides that any extermination and structural repairs identified in the inspection report will be made at Seller’s expense. This means that the Buyer provides a copy of the inspection report to the Seller and the Seller must treat for termites and must make any structural repairs. The Seller does not have a choice about such treatment or repairs. The only choice the Seller has is which company and contractor to choose. The Buyer may not use the presence of termites or structural damage as a reason to void the contract. In addition, the Buyer can not dictate to the Seller which company to choose for the treatment and repairs, as long as they are licensed contractors.

Some of your closing costs at settlement are variable, while others are non-variable fees, such as the transfer and recordation taxes. Both the types and amounts of variable fees and costs will vary greatly from one title company to another, and so you definitely should shop around. You might ask your Realtor or your lender for some suggestions.

If you are getting your home ready to put on the market this year, you are probably considering a fresh coat of paint for at least some of the rooms because new paint is one of the least expensive ways to revitalize a property for sale. Then the crisis sets in – what color will make your home stand out from the competition? What color will make your home seem fresh and stylish.