Leszczak_Corcoran McEnearney Buyers Guide_1224

Begin Your Journey WITH US

A COMPREHENSIVE HOMEBUYER’S GUIDE

Monica Leszczak Monica Leszczak, a seasoned mortgage industry professional, has transitioned into the real estate business to make a significant difference in her community. With 20+ years of experience, Monica has successfully assisted clients from various backgrounds in achieving their dream of owning a home. From first-time homebuyers to families relocating or new to the United States, and Military Families, Monica values the chance to help multiple generations find their cherished homes.

Understanding the significance of buying a home, Monica brings a comprehensive understanding of the home-buying process to the table. Her skills in negotiating contracts, meeting deadlines, and handling complex paperwork streamline the entire process for her clients.

Originally from Texas, Monica moved to Centerville in 1991 to attend college. She met her husband, Greg, and they decided to settle in Northern Virginia. They raised three daughters in Loudoun County and later relocated to Alexandria in 2017 to attend Bishop Ireton. Now grown, her daughters remain an important part of Monica’s life.

Monica has a variety of interests outside of real estate. She is an avid reader, tennis player, and women’s lacrosse fan.

She has coached lacrosse at various levels and is very passionate about supporting her community. Monica actively volunteers and supports organizations like the USO and the Boots Program, which assist Military Families.

As a licensed Realtor in Virginia and Maryland, Monica possesses extensive knowledge of the northern Virginia area. She currently resides in Wellington Estates in Fort Hunt with her husband, Greg, and their two fur children, Duke and Gunner. Leveraging her experience in the mortgage industry, Monica is well-prepared to help you find your perfect dream home. Give her a call today to start the process!

Licensed in VA & MD 571.246.1314 (m) | 703.549.9292 (o) Monica.Leszczak@corcoranmce.com Homes365.co

Testimonials MONICA RESTORED MY FAITH IN HOUSE HUNTING PROCESS “I had the pleasure of working with Monica after having less than ideal experiences with three previous real estate agents.

Monica single-handedly restored my faith in the house hunting process with her exceptional skills and dedication.

Communication with Monica was always excellent. Her responsiveness and willingness to guide us through every step of the process were immensely reassuring. Monica is a real estate agent with integrity, who genuinely cares about her clients' safety, satisfaction and well-being. She has my highest recommendation without hesitation and I will definitely work with her again for my future homebuying journey.”

— Nok N, Buyer

MONICA IS GREAT TO WORK WITH! "Monica is a great realtor to work with! I had a stressful moving situation from out of state, and she went above and beyond to ensure I found the right place."

— Jane S, Buyer

MONICA LESZCZAK WAS INCREDIBLY HELPFUL AT EVERY POINT “Monica exceeded our every expectation and went above and beyond to assist us in our relocation! We are beyond pleased with her exceptional service! First rate service. We are very pleased! We had a challenging relocation situation with an international move and many logistical challenges. Our agent Monica Leszczak was incredibly helpful at every point and went above and beyond our expectations of service. She was incredibly helpful and we are so grateful and highly recommend her!”

— Eric P, Buyer

THE SERVICE WAS EXCELLENT "The service was excellent. Monica did a great job explaining the process, providing listings, and was knowledgeable about the properties. She fought to get me a great deal that is out of the ordinary for the current market. I couldn’t have been happier with my experience!"

— Emily L, Buyer

MONICA IS JUST AMAZING! “Monica is just amazing! I met her at a tour of a condo she was representing and she volunteered to continue helping me look for a rental unit when that fell through. She was very responsive and I couldn't have found my current condo without her!”

— Sara D, Lesee

CONFIDENTIAL - CORCORAN MCENEARNEY

The Homebuying Process Purchasing a new home can be a life-changing moment - financially and emotionally. In a fiercely competitive real estate market, teaming up with a licensed, experienced real estate agent is key. I will help you find a home that meets your needs, and work to secure the very best deal for you.

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PRE-APPROVAL •

Meet with a lender

•

Determine the right mortgage

•

Get a pre-approved letter

SEARCH AND SHOWINGS •

Begin your online home search

•

We set up showings

•

Go view the homes you have interest in

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OFFER AND NEGOTIATION •

Research comparable comps with agent

•

Put in a strong offer

•

Negotiate the terms of the contract

INSPECTIONS •

Schedule inspections

•

Negotiate any repair requests or issues from the inspection

FINANCING •

Order appraisal

•

Obtain homeowners insurance

•

Receive clear to close from lender

CLOSING

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•

Perform final walk through

•

Sign closing documents

•

Get your keys and celebrate buying your home

ESCROW •

Deposit earnest money

•

Complete loan application within time frame of the contract

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Rent VS Buy! RENTING CONS No Tax Credit- There are no tax breaks for renters even though you end up paying more towards rent.

No Equity- Every Check goes into the landlords pocket. You are building no value or equity in your property.

Restrictions- Renting has restraints limiting your ability to remodel or customize the home to your needs and style.

Rental Increases- The fluctuations in the economy may cause increases in rental payments.

BUYING PROS Tax Credit- You can claim your mortgage interest and property taxes as a write off. Current IRS rules allow many homeowners to deduct up to the first $750,000 of their home mortgage interest costs from their taxes. Homeowners who are married but filing separately may be allowed to deduct up to the first $37550,000 of their mortgage interest costs. And up to $10,000 in property tax deductions.

Ownership Equity- Each mortgage payment includes a portion of the principal that lowers the balance creating equity in your property. But, additional equity is created for improvements done to the property.

Enjoyment- Purchasing a home allows you to make the updates you would like to make. You can paint the walls any color you want!

Financial Stability- Your monthly principle and interest payment will remain the same through out the mortgage. The only changes may be your homeowner’s insurance and your real estate taxes.

for more information, visit Homes365.co

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Rent VS Buy! RENTAL: 12 Month Rental: Approximately $3,000 monthly; Total out of pocket $72,000 for 2 years.

PURCHASE: Mortgage Interest Deductions Standard Deduction for 2025 for a Married Filing Jointly would be $30,000. With the Property Tax Deduction and Mortgage Interest Deduction you may be able to save more in taxes with itemizing your deductions on your Schedule A.

$2739.96 * 12 = $32,879.52

$32,879.52 *24% = $7,891.08

the approximate tax deduction for Mortgage Interest

Property Tax Deductions $4721 Property Tax * 24%= $1,100.16 Tax Deduction Approximate Tax Deductions $8991.24 * 2 = $17,982.48 for two years/ 24 =

Monthly Savings $749.27 Equity Gained through Amortization Principal of $499.16 * 24 = $11,979.84 Equity Gained Home Value Increase Statistically the Northern Virginia area has seen about 4% increase year over year.

Sales Price of $515,000 * 4% = $535,600 value in the first year $535,600 * 4% = $557,024 value in the second year Total Equity Gained through Amortization and Home Value approximately

$54,003.84

CONFIDENTIAL - CORCORAN MCENEARNEY

A Message for Our Buyers We are providing this buyer’s guide as a resource for the ever-changing process of buying your home. Whether you have purchased a home before or are considering owning your first home, the buying process is almost never routine.

The information in this guide, along with your agent’s experience and expertise, will help you navigate the process

of finding, negotiating, and settling on your next home.

While the information is important, your agent will provide you with additional assistance that will be essential to a successful experience.

Thank you for trusting our associates to assist you with your real estate goals.

Enjoy your journey!

Maureen McEnearney Dunn, President

Peter Pejacsevich, Chief Operating Officer

Finding a home seems easy, buying a home is hard WE ’RE H E RE TO HELP YOU W ITH THE H ARD PART

Our Buyers Book is designed with YOU in mind.

We know you have questions about how to

achieve the goals you have set for your next

home, and we have the strategies to get you there. But more importantly, we want you to feel empowered by the choice you made to purchase your home with the expertise of our brokerage.

In working with us, you can count on our

WE WIL L PR O TECT Y O U R M O N E Y ( AN D Y O U R S AN ITY )

It’s very easy to overpay for a home right now.

But how do you know what’s enough, and

what’s too much? Tens of thousands of dollars may hinge on the answer to that question, and

we’re prepared to help you answer it. We will fight for you.

A real estate agent who represents a seller has

a legal responsibility to their client to have you pay as much as possible for their home, on

terms most favorable to the seller. Our job is to have you keep as much of your money as

possible, and secure the terms that work best

for you. And remember: We don’t get paid just for what we do. We earn our professional fees because of what we know.

associates to do the following.

WHAT HO M EBU Y ER R EPR ES EN TAT I O N WE WILL HE L P YOU GET IT RIGHT That means due diligence, a fancy legal term for being careful. We’re your trusted advisors.

What are the market dynamics impacting the

value of the property? Today – not last month.

M EA N S AT O UR BR O KER AG E

Here’s the truth: Interest rates have been

persistently high. Home prices also remain high.

Many sellers are resistant to negotiating, even as the number of homes available to buyers grows.

What is the right offer and negotiating strategy?

It can be a tough market for buyers. We said

condition, improvements, maintenance? What

a home right now, we’re prepared to help make

What should you look for regarding property are the big problems that matter, and how can we handle them?

tough, not impossible. If you want to purchase that happen. It just takes strategy, smarts, and tenacious representation.

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What your real estate agent does for you C L ARIFIE S YOUR WANTS AND NE EDS Start the process by creating a list that identifies

your “wants and needs” in the perfect home.

Your agent will advise you on prioritizing this list to help you meet your goals.

listing to help you determine which homes you want to tour in person. In competitive markets,

it’s critical to take the time to know what you

are looking for so that you are confident in your offer and ready to take action.

PR EPAR ES AN D N EG O TIATES PU R CHAS E AG R EEM EN TS

Once you have found the home to purchase,

your agent will discuss strategies and tactics that

will make your offer a strong one. Remember, all negotiations are not the same. Your strategy will

need to be specific to the current market, and your experienced agent is one of the best assets

L EAD S THE HOME SEARCH Your agent will set up a customized on-line search using BrightMLS and our partner app

RealScout. These are the most comprehensive tools available to find homes that are for sale or coming soon. During your search, you will receive real-time notifications of new listings

and price changes based on your search criteria.

to make sure you submit the best offer possible.

O V ER S EES THE C O N TR AC T PR OC E S S After ratification, there are many deadlines and contractual obligations. Attention to

detail is important and your agent will ensure those deadlines are met. Although real estate

transactions should be well planned and managed, there are no guarantees that last-

H E LP S D E TERMINE S UITABILITY Your agent will help you strategically manage your home search. After analyzing your wants and needs, your agent will preview properties

and list the strengths and weaknesses of each

minute issues will not arise. It is the systems, experience, and transaction management skills

of your agent that will help minimize the impact

of any surprises and lead to a resolution to get your contract to the finish line.

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Types of representation in MD, DC, VA, and WV WH AT IS AGENCY? Agency refers to a legal relationship between a real estate brokerage and a client that outlines the duties and obligations of both sides. It is the agreement by which an agent is “hired” by their client and begins the process of representation during a sales transaction. A licensed agent or Realtor® acts

as a representative of the brokerage and an advocate for the client during the homebuying or selling process. Agreements are negotiable and can be exclusive or non-exclusive so it’s important to get

clarification from your agent regarding all paperwork you’ll be signing regarding not only the agent’s role but your associated costs and responsibilities.

Having your own “Trusted Advisor” to guide you through the buying process is the first of many

important choices you’ll make on the path to homeownership. Take the time and ask the questions to ensure you’re ready for the journey ahead with your chosen agent.

S ELLE R RE P RES ENTATION

BUY ER R EPR ES EN TATIO N

A written listing agreement has been signed by

A written buyer agreement has been signed

Brokerage and agent represent the seller.

agent represent the buyer. Agent will review

the owner of the property and the Brokerage.

Agent will review associated seller’s fees at the

initial meeting, including the possibility – but

not obligation – of offering buyer concessions as part of a sales strategy.

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by the potential buyer. Brokerage and associated buyer fees at the initial meeting,

including their agent’s professional fee for service (paid by the buyer).

MARYLAN D

V IR G IN IA

Dual Agency: When the seller and buyer are

Dual Agency: Broker and agent represent both

represented by the same Brokerage (company).

Intra Company Agent: When the seller and

buyer are represented by different agents who are both affiliated with the same Brokerage.

Note: A salesperson is not allowed to represent

more than one party in a transaction in the state

parties in a transaction. Dual agency is created

when one agent has signed representation agreements with both the buyer and the seller.

Both parties must agree in writing to dual agency.

Designated Representation: When the seller

and buyer are represented by different agents who are affiliated with the same Brokerage.

of Maryland.

WEST V IR G IN IA WASH IN GT ON, DC Dual Agency: When one agent represents both the seller and the buyer in a transaction.

Designated Representation: When the seller

Dual Agency: Brokerage represents both parties

in a transaction (even if one agent works with the seller and the other with the buyer). All parties must agree in writing to dual agency.

and buyer are represented by different agents who are both affiliated with the same Brokerage.

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Offers of compensation for your agent Agents are real estate professionals who manage multiple aspects of a real estate

transaction, sometimes investing months if not years in helping their clients achieve their housing goals. Their goal is to use their expertise, network, and negotiating skills to save you time and stress in securing the home you want on the terms you’ve set forth.

Your agent will discuss their fees at your initial meeting, outlining the things they will do

to ensure that your interests are protected and your experience is as stress- and surprisefree as possible. The fee may be a percentage of the home sales price or a flat price.

Here are just a few things your agent does to earn their professional fee: • Handling paperwork and managing documentation • Utilizing technology and professional networks to conduct home searches • Tracking deadlines • Explaining complex legal contracts • Coordinating inspections, contractors, vendors, and other access to the property • Evaluating home inspection reports • Managing the countdown to closing • Providing clear communication, updated information, recommendations, advice, and support before, during, and after the home sale

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What you should consider before buying your home Your Realtor® will discuss with you the different disclosure laws in your jurisdiction.

The obligations of the seller vary by locality. To make sure you are comfortable with the condition of the home you are buying, you may consider including the following in your offer:

• A home inspection contingency — hire a licensed expert to inspect the home giving you important

of existing structures to the

• Additional inspections may be

property lines and any easements

negotiated, such as radon, lead

of record.

paint, roofing.

• An appraisal to determine whether

inspection — this will let you know that the home is free of active

insect damage.

• A survey to identify the relationship

information about its condition.

• A wood destroying insect

infestation and visible structural

the value of the home is sufficient

collateral for the mortgage. This is typically required by the lender.

Unless you and the seller agree otherwise, the property will be conveyed free

and clear of debris, broom clean, and in substantially the same condition as the date identified in the contract.

If the property was built prior to 1978, the seller must disclose the existence of lead-based paint in the home if they have actual knowledge. If they have knowledge, they should give the buyer copies of any lead-based paint reports.

The buyer should receive a copy of the HUD Lead-Based Paint booklet “Protect your Family from Lead in your Home” and the seller should allow you the opportunity to inspect the property for lead.

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Washington area real estate customs differ from other markets A GE N TS WR ITE CONTRACTS, NOT BIN DER S Agents write the contract for the buyer. Realtors® use forms created by local Realtor® Associations to enter offers and negotiate contracts.

Please be aware that only the terms agreed to by all parties in writing are enforceable, so it is important to include everything in your purchase agreement.

H OUSIN G COS TS ARE DIFFERENT THAN IN O THER AR EAS While everyone expects that homes will be expensive, housing prices

in our market may be higher than other areas. Your agent will provide you with a comparative market analysis and explain the value of the community you are considering.

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KITCHEN APPLIANCES ARE TYPICALLY IN C L UDED IN THE S A L ES PR I C E

Standard business practices in this market will

convey appliances and some other fixtures.

These items will be identified by the seller and should be included in the contract.

EA R N ES T M O N EY DEPO S ITS AR E HIG HER

In many areas of the country, an offer to purchase a home will be accepted with a

deposit of $500 to $1,000. In the Washington metro area, the expected deposits will run from a low of $2,500 to a high of 5-10% of the purchase price.

SPEED O F THE TR AN S A CTIO N Contract negotiations are handled fairly quickly in most circumstances.

It is common that you will receive a response from a seller or will need to respond within a couple of hours of sending or receiving information.

SELLER DIS CL O S U R E O R DIS CL A IM ER All states or jurisdictions in our region have property condition disclosure laws. Each jurisdiction is different. Discuss this with your associate in the context of your property location.

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The home buying process S TE P S Y O U NEED TO TAKE TO

We strongly encourage you to make a full

F INAN CE YOUR HOME

written loan application with a reputable lender

Before you start your home search, it is important for you to talk with an experienced lender. You need to understand your financial qualifications before you start your housing search. Knowing

very early in the process. The contract will

require you to make a written application within seven days after your contract has been accepted.

and being comfortable with your monthly payments, closing costs – including your agent’s fee – and other financial obligations will give

you confidence as you negotiate your contract.

Sellers will expect the buyer to submit a lender

letter with the purchase offer. The letter will identify the type of financing and interest rate, and will reference your ability to secure a mortgage.

04

S TEP 4 Submit purchase offer & negotiate contract

03

S TEP 3 Conduct a

home search

02

S TEP 2 Choose a lender &

complete a loan application

01

STEP 1 Meet with your

Corcoran McEnearney associate

on home

08

S TEP 8 Congratulations on

your new home! Time to move in

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S TEP 7 Conduct final

walk-through &

attend settlement

06

S TEP 6 Finalize financing & prepare for settlement

05

STEP 5 Conduct home

inspections & obtain Hazard Insurance

T YP E S OF LENDER LETTERS • Pre-Approved: A written loan application

with documentation has been preliminarily approved by the lender.

• Pre-Qualified: A conversation with the

lender has taken place but nothing has been verified and no commitment has been made by the lender.

L EN DER ’ S CO M M ITM EN T L ETTE R When

your

full

loan

application

and

documentation have been reviewed by the RE Q UIRE ME NTS F OR PRE-APPROVAL The following documents, at a minimum, will

be required by the lender in order to evaluate

your application and issue a preliminary approval; written, electronic, or telephonic loan application; credit report reviewed by lender;

verification of income; pay stubs; tax returns; and verification of assets by lender.

lender’s underwriter and approved, you will

receive a commitment letter. There are a number of additional requirements and steps prior to this letter being issued by the lender.

The commitment is specific to you and the

house you are purchasing, and the lender’s

underwriter will typically require review and approval of: (1) Appraisal, (2) Termite Inspection, (3) Survey, (4) Title Search.

Conducting a strategic search IDENTIF Y AND CLAR IF Y WHAT YOU ARE LOOKING F O R

Identify and communicate to your agent

what is important to you and why. It is important to identify the ‘why’ so that you can find acceptable alternatives.

CUS TOM HOME SEA R CH Your agent will provide you with access

to a wide range of resources to find your home. They will include, but are not limited to:

• New Construction. New Homes are not always listed in BrightMLS. Our associates have worked with large

and small builders throughout the region since 1980, and consistently network

with

builders

to

informed of the latest inventory.

stay

• Private Exclusives. Working with

an agent who networks within the

industry to learn about listings that are currently not being publicly

marketed could really give you an edge and, especially in a competitive market, potential access to more

• BrightMLS. Your agent will have access to BrightMLS which is the

homes.

multiple listing service used by

• Coming Soons. At our weekly

BrightMLS will be the fastest source

daily internal communications, our

listings in real time.

buyer needs and properties that will

our region’s real estate agents.

Business Meetings and through our

to get information about the newest

associates routinely announce their

• RealScout. We have partnered with

RealScout, the industry’s number

one collaborative home search platform. RealScout allows you

be coming on the market in the near

future. This often gives you advance

knowledge of properties before they hit the market.

to have a highly curated search

• For Sale By Owner. Most people

to better refine exactly what you are

are prepared to work with agents

experience using smart technology

who are marketing their own home

looking for.

with buyers. Please discuss this with

your agent to determine if this is an important option for you.

Find neighborhoods that you love and want to live in RE SE ARCH NEIGHBORHOOD INF O R M ATIO N Real estate is hyperlocal, and Corcoran McEnearney is hyperlocal. For more than 40 years we have

been your local experts and neighborhood matchmakers and your agent will help you identify which communities that you feel connected to the most.

P R IORITIZE AND S ELECT The home search is about eliminating homes

that don’t fit your needs as much as it is about finding a home that does. Discuss your ‘must have’ list with your agent.

• Love or Like: Finding a home that has everything a buyer wants can be difficult.

Typically buyers will buy a home that has 80% of their desired list, so it is important

to make a distinction between whether you love or like a home.

• Keep options open: When submitting an offer to a seller and negotiating the terms, it can be empowering to know, if this one

doesn’t work out, there is another home that meets your needs.

• How much do you love it: If the home

was sold to someone else, would you be disappointed? If the answer is yes, then

the time has come to prepare an offer to purchase.

A CA UTIO NARY NOTE There is a lot of information available to you during your home search. There are several websites that use an automated valuation system that estimates the value of homes on and off the market. As interesting as these sites might be, our research tells us that Automated Valuations Systems predict values based on computer models and much of the information that feeds these models may be inaccurate or incomplete.

These estimated values are as likely to be very low as very high. There is no substitute for a comparative market analysis prepared by your experienced and knowledgeable associate.

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What if you don't find what you are looking for RE VIE W YOUR CRITERIA Most buyers use this opportunity to change some or all of their purchase criteria.

• Price range: If the homes in your price range do not fit your needs, you may want to talk with your lender about increasing your price point.

• Type: If price and location are most important, you may want to consider different types of homes. There may be condominium or townhouse communities that will meet your criteria.

• Size: If you cannot increase your price point and your location is nonnegotiable, you may consider looking at smaller homes. You can adjust the square footage, bedrooms, levels, or garage spaces.

• Location: If these three factors cannot be changed, then the next step

may be to look at different locations. An adjoining neighborhood or zip code may present homes that meet more of your priorities.

H AN G IN T HERE! Review your criteria. Knowing your options may allow you to consider different possibilities. Remember new listings are constantly coming on the market. Managing your emotions during this time may be difficult. There is no way to predict what the future holds, whether there will be more listings or fewer, or whether the interest rates will rise or fall. Don’t give up!

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Prepare a strategic purchase offer The main objective in preparing your offer is to purchase the home you want at the most favorable terms possible. The challenge is to make your offer as attractive to the seller as possible, while preserving your protections.

G IVING T H E SELLERS W HAT THEY N EED IN R ETU R N F O R TER M S T H AT ARE IMPORTANT TO YOU

Your Corcoran McEnearney associate will try to find out from the listing agent what the seller’s critical needs are. If you can meet these, it may give the seller a reason to accept other terms that suit your needs. There are eight areas of negotiation in your offer:

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• Offer Price: The price you offer is the first

• Settlement & Occupancy: Possession is

a price that will encourage them to consider

there are circumstances that require you to

thing that most sellers want to know. Offer your contract.

• Deposits: The amount of deposits vary by

jurisdiction. Your deposit amount reflects your commitment to the transaction and a low deposit could make your offer less attractive.

• Contingencies:

The

most

common

contingencies are financing, home inspection, and appraisal. Your agent will help you

understand your rights and obligations in the offer you submit.

• Subsidies: Sometimes referred to as closing cost credits, you should consult with your agent to see if they are common in your

area of choice. If you are considering asking for a seller subsidy — for example to cover

usually transferred the day of settlement. If pre-occupy, or if the seller needs to stay past settlement, your agent will ensure that you are protected.

• Property Condition: It is recommended that any offer should include a contingency for a satisfactory home inspection report.

Requests for repairs, if any, will be made in

accordance with the procedures established in the sales contract.

• Inclusions & Exclusions: The seller will

specify which appliances or other items will or will not convey with the sale of a property. Sometimes sellers offer to replace

an item they wish to remove from the home when they move. Make sure that your offer accurately reflects both of these lists.

the Buyer Broker fee, lending fees, or other

• Financial Statement: In some jurisdictions,

lender to make sure that you can take

a financial statement to the seller — your

monetary concessions — consult with your advantage of the entire amount.

it is typical for the purchaser to provide agent will discuss this with you.

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Using time-tested purchase offer strategies WRIT IN G A CLEAR AND CONCISE O F F ER The more difficult your offer is to understand, the more challenging it will be for the seller to accept. If your offer is a complicated one, have your agent draft a bullet-point summary to accompany the contract.

F INALLY, RE F LECT BOTH THE DES IR ABIL ITY O F THE HO M E A S WE LL AS MARKET CONDITION S IN Y O UR O F F ER

No matter what the condition of the market, you may or may not be competing with other buyers when you submit your offer. Even in markets where supply is high, some homes will attract more buyer

interest than others. Market conditions vary on every property. There are zip codes, communities, and

styles of homes that are more attractive to buyers. The condition and list price of the property may

attract more interest. It will be important to use this information as you structure your offer to purchase.

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Notes on negotiating in different types of markets Your ability to negotiate the price

In a Seller’s Market, homes may last

depends on four things:

is not unusual for properties with

and terms on any specific property 1. Your ability to be a qualified and flexible buyer

only a few weeks or even days. It more than one interested buyer to

sell over the asking price, often with the use of Escalation Clauses.

2. The desirability of the home

Some buyers will decide to remove

3. The motivation of the seller

some contingencies or requests for

4. The state of the market

The state of the market is defined by the relationship between the supply of homes and the number of people

buying them at any given moment.

The markets are usually defined as a

Buyer’s Market, a Seller’s Market, or a Balanced Market.

In a Buyer’s Market, homes stay on

the market longer, creating more choices and more leverage for the buyers. In general, you should be

able to purchase the home at a

price consistent with or even less

than prior sales, and perhaps obtain more flexible terms, such as closing

help, payment of agent fees, and/or

seller concessions to make their offer most attractive. The buyer

must decide which contingencies and concessions are important to protect their position in the contract they submit.

In a Balanced Market, highly highly desirable homes sell quickly and at

higher prices while others take more time. Flexible terms are found more

often with homes taking longer to sell.

Markets differ by price range, property type, and location. It is entirely possible

to have a Seller’s Market in one neighborhood or price range while

Buyer’s Market conditions exist nearby.

repairs in excess of those available

Consult your Realtor® associate for

however, will be determined by other

for the property type and location that

in other markets. Specific terms, factors present in the transaction.

information on the state of the market interest you. They will provide advice on

how that may affect your transaction.

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Reviewing homeowner’s/ condo/co-op association documents If you are purchasing a condominium, a cooperative, or a property that

is part of a Homeowner’s Association, you have the right to receive and review the legal and financial documents connected with the community.

You also have a right to cancel your contract, based on your review of the documents. The period of time during which you may cancel the

contract varies by jurisdiction; please consult your associate so that you comply with the deadline.

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Your review might include, but is not limited to, the following: • Fees and Cash Reserves: What they include and any planned increases.

• Rules and Regulations: Parking, trash removal, pets, property

appearance, paint colors, fencing, common areas, insurance, limitations on renting are all things to consider.

• Pending Lawsuits: The HOA/COA is required to disclose any pending lawsuits.

• Anticipated Major Renovations or Special Assessments: Renovations could potentially impact the HOA/COA fees.

As with physical inspections, deadlines for reviewing these documents are “hard dates” and if they are missed, your protections will terminate.

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Finalize your financing with your lender Congratulations, you are one step closer now that your offer has been ratified! The next step is for you to send the following to your lender: • A copy of the ratified sales contract • The MLS printout for the listing • Public record information • Documents pertinent to the loan application

Within 7 days of ratification the contract requires

Your agent will guide you through this process

lender and start the process for lender required

sure things will meet the deadlines and

the buyer to make a formal application to their hazard insurance.

and communicate with your lender to make settlement date.

The lender will order the appraisal and will prepare a loan estimate of your settlement charges.

Note: Once you remove your financing

During this time, it is important to work with

contingency, you are representing that you will

timely manner. Your financing contingency, if your

any reason your lender fails to perform, you may

be asked or required to provide a commitment

the contract regarding default may be enforced

Your lender will need everything they already

For this reason alone, it is critical that you work

your lender to provide all documentation in a

be at settlement with all necessary funds. If for

contract includes one, has a deadline. You may

be held in default and the specific provisions of

letter to the seller to satisfy this contingency.

by the seller.

requested from you, plus the appraisal and other

information provided by the title company, in order to issue the letter.

with a good, reputable local lender whose business reputation is on the line if they should fail to perform as promised.

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Schedule your settlement Y O UR SE T TLEMENT COMPANY In VA, MD, DC, and WV, the buyer has the right to select the settlement company. There may be reasons to allow the seller to have input or a preference, but the purchaser should discuss this with their agent prior to making a decision.

It is not unreasonable, however, for the seller to request the use of a particular entity to coordinate

their sale with the purchase of another property, to facilitate a 1031 Tax-Deferred Exchange, or when you purchase from an estate.

Relocation companies and new home builders routinely require settlement with a pre-determined settlement company or attorney.

RE P RE SE NTATION Ordinarily, the title company or attorney does not represent either of the parties. It is their

responsibility to ensure the sales contract has been completed and that the financial aspects of

the transaction are fully and accurately reflected on the Closing Disclosure. The title company will

also make sure that the transaction is recorded at the local jurisdiction and disburse all funds to the appropriate parties.

T IMING Your Corcoran McEnearney agent can help you with the selection of a settlement agent. The settlement company should be contacted within 10 days after ratification of the contract to schedule settlement.

T IT LE SE ARC H & S URVEYS The settlement company will search the title and order any required surveys. Reach out to your associate for any questions.

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Title insurance WH AT IS T ITLE INS URANCE? Before answering “What is title insurance?”, first answer, “What is title?”

“Title” is the ownership in real property. Among other things, it means that you have the legal right

to possess, occupy, peacefully enjoy and sell your property without interference from others, subject only to restrictions imposed by governmental authorities or previous owners. In most cases, a title is transferred by deed which is recorded in the land records of the jurisdiction in which the property is located. Generally, when property is sold, a title examiner researches land records and court records

searching for any title defects. A title defect is anything in the entire history of ownership of a piece of real estate which may encumber the owner’s rights under the title. A title defect may cause the property owner to lose all or part of their land to a superior ownership interest or claim of another. This

is the type of loss that title insurance protects against. In short, if you own a title insurance policy, the

title insurance company will defend you without additional cost against an attack or claim upon your

ownership interest in your property, and you will be protected against financial loss caused by a title defect. Title insurance insures your ownership of the property.

I F MY T IT LE HAS BEEN EXAMINED F O R DEF EC TS , WHY DO I N EED IN S U R ANC E ?

There are many defects that even the most meticulous title search will not uncover. For instance, it

is impossible for an examiner to know whether the marital rights of all previous owners have been relinquished; whether all deeds, mortgages and judgments affecting the property have been properly indexed in the land records; whether all signatures are valid; or whether an unknown heir of a previous

owner had a valid claim against the property. Without owner’s title insurance, any avenue of recovery for these types of problems may be very difficult and very expensive.

I F I AM RE QUIRED TO PURCHAS E L EN DER ' S IN S U R AN C E, WH Y D O I N EED OW NER'S COVER A G E A S WEL L ?

In almost every instance, a lender will require you to purchase lender’s title insurance, protecting it up to the value of its loan on the property. This coverage only protects the lender, not you, and the

coverage diminishes as the loan is paid off. As you build more equity in the property, you expose yourself to a higher risk of loss occasioned by a title defect. In this situation, the protected lender will

suffer no loss while you as the owner of record bear the substantial risk of the damage. Owner’s title insurance will protect you against any covered loss from failure of title to the full amount of the policy.

The following information outlines many of the items that would be covered by owner’s title insurance, and you should discuss any questions you have with your settlement company.

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WH AT ARE SOME REAS ONS OR EXAM PL ES O F

WH Y I SHOULD HAVE OW NER’S T ITL E IN S U R AN C E? Owner’s Title Insurance will protect you against those hidden risks which would not be disclosed by even the most meticulous search of the public records. Some examples of those hidden risks are: • Forgery

• Inadequate surveys

• Fraud in connection with execution of documents • Incorrect legal descriptions

• Undue influence on a grantor or executor • Non-delivery of deeds

• False impersonation by those purporting to be owners of property • Unsatisfied claims not shown on record

• Incorrect representation of the marital status of grantors

• Deeds executed under expired or false powers of attorney • Undisclosed or missing heirs

• Confusion due to similar or identical names • Wills not properly probated

• Dower or curtesy rights of ex-spouses of former owners • Mistaken interpretation of wills and trusts • Incorrect indexing

• Mental incompetence of grantors

• Clerical errors in recording legal documents • Conveyance by a minor

• Delivery of deeds after death of grantor • Birth of heirs subsequent to date of will

A R E THE RE DIF F ERENT TYPES OF TITL E IN S U R AN C E? Yes. There are three different types of Title Insurance: A Lender’s Policy, Standard Owner’s Policy and the Owner’s Enhanced Policy.

Lender's Coverage is required by all corporate lenders as a condition of the purchaser’s loan. This covers only the lender for the amount of the loan they are making to a borrower. The Lender’s Policy

that the lender is provided with is the standard American Land Title Association’s (ALTA) Loan Policy.

It provides coverage to the lender against such title encumbrances as fraud in connection with the execution of documents, incorrect representation of the marital status of grantors, wills not properly probated, and many other circumstances that might jeopardize the lender’s security in the property.

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The Standard ALTA Owner's Policy protects you as the owner of real property against fraudulently executed documents, incorrect representations and improperly probated wills, as well as any unsatisfied claims that may not appear in the jurisdiction’s land records.

The Owner's Enhanced Policy covers you, the owner, against all that is included in a standard ALTA Policy

but with additional and enhanced coverage. Subject to limitations, some of the benefits of an Enhanced Policy include:

• Mechanic’s lien coverage is provided for work done prior to the date of your policy.

• Zoning coverage is now provided, ensuring that your land is properly zoned for a single-family residence.

• Subdivision coverage is now provided in the event that your land is a portion of an improperly created subdivision.

• Coverage is provided if you as the owner are forced to remove an existing structure, other than a boundary wall or fence, due to a previous owner’s failure to obtain the necessary building permit.

• Coverage is provided if an adjacent builder builds onto the homeowner’s property without permission.

• Coverage is provided for forgeries affecting your ownership after the date that your title insurance policy is issued.

Please note that the specific coverage available may vary to some degree among title insurance providers and based on the jurisdiction of the property. The company that you select to conduct settlement can provide you with the details of the coverage provided under their policies.

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Title insurance

Title

Title

Professional

Title

Search

Title

Insurance

Closing

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Information provided by SMART Settlements

WHAT IT IS

WHY IT MATTERS

HOW YOU BENEFIT

Title is your ownership right to your property.

No homebuyer wants to inherit existing debts or legal issues that could interfere with their property rights in the future.

Clear title allows you to use or modify your property.

Smart Settlements will examine or research public records to see if there are any problems or defects that could cause you legal issues. They may also manage the closing process.

Smart Settlements ensures the title search is completed, writes the title insurance policy and works to reduce your risk of ownership issues in the future.

Smart Settlements has your back. We sweat the small stuff so you don't have to, giving you peace of mind.

A title search is an early step in the home buying process to uncover issues that could limit your rights to the property.

If a title issue is discovered, most often your title professional will take care of it without you even knowing. After the title problem is fixed, you are able to purchase owner's title insurance.

The title search protects you from unknowingly inheriting a previous owner's debts, legal obligations or other title problems.

There are two different types of title insurance: the owner's policy and the lender's policy. The owner's policy is purchased by you, the homebuyer. While it is your choice, purchasing an owner's title insurance policy is the best way to protect your property rights. The lender's policy is usually paid for by you, the homebuyer. It is almost always required by the lender and only protects the lender's interest.

Sometimes undiscoverable defects can come up after the title search. Title issues may include forgery, fraud or clerical errors. Owner's title insurance is the best way to protect yourself from losing your property.

Every year, the vast majority of homebuyers in America elect to protect the largest investment of their lives, and purchase owner's title insurance.

Owner's title insurance protects your interests after you purchase your home.

Closing is the final step in executing the home buying transaction.

It is the process that allows the transfer of ownership to occur.

Upon completion of the closing process, you get the keys to your home!

CORCORAN MCENEARNEY EXCLUSIVE BUYER'S GUIDE

Hazard insurance/ homeowners insurance Your lender requires that you keep the property insured against damage or destruction and name them as the co-insured. This is referred to as Hazard Insurance or Homeowners Insurance.

If you are making an all-cash purchase, the decision to have Hazard or Homeowners Insurance is the buyer’s decision. It is absolutely recommended that you purchase this insurance to protect your investment. The settlement agent will be able to answer any questions you may have.

Contracts in our areas require the buyer to begin

the process of obtaining Hazard or Homeowners

Insurance within seven days of a ratified contract.

This insurance includes liability coverage and content coverage of the owner’s personal

property. Buyers should begin the search for insurance as soon as possible as the recent

sharp rise in rates may make some policies unaffordable, if insurance can be secured at all, and you will need time to shop for the best policy for your needs.

Your policy must be paid for and a binder issued

prior to settlement. Evidence of such must be delivered to the lender prior to funding the loan.

Please note: Insurers do not issue hazard insurance policies when a hurricane watch is in

effect. Please do not wait until the last minute or settlement may be delayed.

F OR CON D OMINIUM PURCHAS ER S

F L O O D IN S U R AN C E

The master policy covers the structure of the

Some properties are in flood zones. In these

building on behalf of you and your lender and is paid for in your condo fees. However, this

provides no liability or content coverage for you, and no coverage if another unit is damaged by

something that occurs within your unit. Please

speak with your insurance agent to discuss adequate separate coverage.

situations, the settlement company will advise you, but your lender may require you to add

flood insurance to your transaction. The FEMA flood map is updated every year. Please ask your lender or the settlement company about the flood certification after ratification of your contract.

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Prepare for settlement and preparing to move Once your inspections have been completed and your financing has been finalized, you will need to

arrange a number of other details. Scheduling these things earlier in your transaction will hopefully eliminate last minute surprises or uncomfortable situations.

S ET TLE ME N T F UNDS • Arrange certified funds or wire transfer with the settlement company.

• Note: Do not accept instructions to wire funds through an email. If the settlement company emails

instructions, call first to confirm that the information is accurate. Use the phone number provided by your agent, not one included in the email. You will be asked to sign a “Wire Fraud” disclosure when you sign your buyer agency agreement.

• The amount of cash needed at settlement can

be obtained from the attorney or title company several days prior to settlement.

• Are you going to be using funds generated by the

sale of another property as all or part of your down payment? If so, make sure that your agent has

discussed this with your settlement company and has coordinated the timing of the two settlements

to allow for an assignment of funds. This assignment of funds allows one settlement company to deliver

funds to another settlement company once the first transaction has been recorded and disbursed.

However, an assignment of funds cannot be used without the prior written consent of the seller.

• Personal checks may be used for small amounts owed at settlement, if the final figures change at the last minute.

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E STAB LISH TIME OF WALKTHROU G H • Your agent will schedule the walkthrough for you.

• The contract permits you to conduct a walkthrough seven days prior to settlement. You may want to conduct a walkthrough to verify all repairs have been made and a second walkthrough once the

seller has vacated the property to ensure that the property is in “substantially the same condition” as the contract identifies.

D IRE CT ION S TO THE S ETTLEMENT O F F ICE Make sure you have received directions to your settlement office, either from the company or from your agent.

P R E PARIN G TO MOVE As you are preparing for settlement, this is a good time to start planning your move. This includes helping to identify a mover and updating your new address for utilities. Reach out to your agent for more information.

C ON TACT A MOVING COMPANY The first step is to confirm your preferred move date as early as possible. Your associate has a list of movers recommended by agents and previous clients. You are encouraged to get quotes from more than one company.

C ON TACT UTILITY COMPANIES You can contact your utility companies directly (e.g. Electric, Water, Telephone, TV/Internet) via the list of utility companies found at the end of this book.

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Conduct the final walkthrough Y O UR RIGHT TO A WALKTHROUG H Prior to settlement, the sales contract allows for the purchaser to conduct a final walkthrough inspection. At the end of the walkthrough, the buyer signs off on the Walkthrough Inspection Form. This form signifies the buyer’s acceptance of the

property in its current condition and notes any contractual deficiencies. Ideally, this inspection is best performed after the seller has vacated the property, but if this is not possible, your agent will coordinate timing.

The purpose of the walkthrough is: • To ensure that all items that are supposed to convey with the property are in place and in the condition specified in the contract.

• To ensure that repairs or improvements required in the contract have been completed by the seller.

• To ensure that the property is free and clear of debris, broom clean, and in substantially the same condition as on the date of the contract.

• To ensure that all other contractual obligations have been met.

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Attending your settlement WH AT TO E XPECT AT A S ETTLEME N T • Settlements are typically scheduled every hour, so please allow for

one hour in order to complete the process. If you are inclined to

read each document thoroughly, it is preferred that you talk with the settlement agent ahead of time to schedule adequate time to review the documents in detail.

• It is very common for Buyers and Sellers to settle separately.

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TYPICA L S ETTL EM EN T M EETIN G A G EN DA • Photocopy driver’s license or other appropriate ID for all parties.

• Approve and sign the closing disclosure.

• Purchaser selects title insurance coverage.

• Seller signs the deed.

• Purchaser signs loan documents: - Loan application

- Truth in Lending statement - Note

- Deed of Trust

• Seller provides the keys and, if any, garage door openers.

• Purchaser funds are verified and will receive keys and possession.

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Real estate glossary Adjustable Rate Mortgage (ARM): Interest

BrightMLS:

adjusted up or down, depending on a specified

information about properties for sale.

rates on this type of mortgage are periodically financial index.

Agent: Acts on behalf of another, representing that

person’s interests and serving as an intermediary.

multiple

listing

service that provides to its members detailed Broker: A real estate professional who has a higher level of training than an agent. Generally, this is one who is the legal representative or proprietor of the office.

Sellers and Buyers. You will receive your ALTA

change in an ARM.

precise breakdown of closing costs for both

Cap: Limit on how much the interest rate can

document at closing.

Closing: See “Settlement.”

monthly mortgage payments over the life of the loan, even though the proportion of principal to

interest changes over time. In the early part of the loan, principal repayment is very small and

interest repayment very high; at the end of the loan, that relationship is reversed.

Annual Percentage Rate (APR): The actual finance charge for a loan, including points and loan fees in addition to the stated interest rate.

Appraisal: An expert judgment of the value or worth of a property.

ARM: Adjustable Rate Mortgage Assumption of Mortgage: Buyer assumes

liability for an existing mortgage note held by

the Seller. This is subject to approval by the lender, who must be willing to approve the Buyer and release the Seller.

Assessed Value: The value placed on property by a municipality for purposes of levying taxes. It

may differ widely from appraised or market value.

Balloon Payment: A large principal payment due all at once at the end of some loan terms.

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regional

American Land Title Association (ALTA): A

Amortization: A method of equalizing the

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CORCORAN MCENEARNEY EXCLUSIVE BUYER'S GUIDE

Closing Disclosure: Replaced the HUD-1

document. You will receive your ALTA document at closing.

Commission: Fee (usually a percentage of

total transaction) paid to Broker for services performed.

Concession: Monetary credit offered to a buyer to use at closing. This can be for home inspection items, closing costs, and other fees (including a buyer agent’s professional fee.)

Condominium (Condo): Type of real estate

ownership where the owner has title to a specific unit and shared interest in common areas.

Contingency: A condition in a contract that must be met for the contract to be binding.

Contract: Binding legal agreement between two or more parties that delineates the

conditions for the exchange of value (e.g. money exchanged for title to property).

Conversion Clause: A provision that allows

converting an ARM to a fixed-rate loan after a specified interval.

Deed: Legal document that formally conveys

associated with the loan as well as settlement

Down Payment: Percentage of the purchase

Hazard Insurance: Compensates for property

not borrow from the lender.

wind. More complete coverage is given by all-

ownership of property from Seller to Buyer.

price that the Buyer must pay in cash and may

costs that will be incurred by the borrower.

damage from specific hazards such as fire and

Earnest Money: A large deposit paid when the

risk homeowner’s insurance.

Equity: The value of the property actually

inspector, it evaluates a property’s structure and

plus appreciation plus improvements, less

Interest: The cost of borrowing money, usually

Escrow: A fund or account held by a third-party

Lien: A security claim on property until a debt

Fannie Mae: Federal National Mortgage

Listing Contract: Agreement whereby an owner

Federal Home Loan Mortgage Corporation

period to sell property. The agent receives a

Association (FNMA, called “Fannie Mae”):

Market Value: The price that is established by

Congress that buy mortgage notes from local

general trends.

sales contract is signed before the closing.

Home Inspection Report: Prepared by a qualified

owned by the homeowner, it is purchase price

mechanical systems.

mortgages and liens.

expressed as a percentage over time.

custodian until conditions of a contract are met.

Association.

is satisfied.

engages a real estate agent for a specified

(Freddie Mac) and Federal National Mortgage

commission from the sale.

Privately owned corporations created by

present economic conditions, locations, and

lenders and are responsible for the guidelines a majority of lenders use to qualify borrowers.

Finance Charge: The total cost, including all

fees, points and interest payments a borrower pays to obtain credit.

Fixed Rate Mortgage: Interest rates on this type

of mortgage remain the same over the life of the loan term. Compared to “Adjustable Rate Mortgage.”

Fixture: A recognizable entity (such as a toilet bowl, kitchen cabinet, or light unit) that is

permanently attached to property and belongs to the property when it is sold.

Good Faith Estimate: A document that must be provided by the lender within three days of mortgage application and that specifies the costs

Market Price: The actual price at which a property sold.

Mortgage: Security claim by a lender against property until the debt is paid.

Negative Amortization: A method of calculating fixed monthly payments in combination with a

variable interest rate. When monthly payments are not enough to cover interest costs, unpaid interest is added to the principal balance.

Origination

Fee:

Application

fee(s)

processing a proposed mortgage loan.

for

PITI: Principal, interest, taxes, and insurance, forming the basis for monthly mortgage payments.

Point: One percent of the loan principal. It’s charged in addition to interest and fees.

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Pre-Payment Penalty: A fee paid by a borrower

Types of Ownership: There are four types of

Pre-Qualification: Informal estimate of how much

1. Sole Ownership: Only one person owns the

obtain – done before paying substantial loan

2. Tenants in Common: Two or more persons

who pays off the loan before it is due.

financing a potential borrower might expect to application fees.

Principal: One of the parties to a contract; or

the amount of money borrowed, for which interest is charged.

Prorate: Divide or assess proportionately.

Realtor®: A member of the National Association of Realtors®.

RESPA: Real Estate Settlement Procedures Act. Settlement: Also known as Closing, is the

completion of your real estate transaction. At

settlement, all parties, including the buyer, sellers and both of their agents sign the transaction's

closing documents. After closing, the buyer's closing attorney finalizes the transaction and handles the payment of closing costs.

Title: Document that indicates ownership of a specific property.

Title Insurance: Protects against loss from defects in the title.

Title Search: Detailed examination of the entire

document history of a property title to make sure there are no encumbrances.

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property ownership. property.

have an undivided ownership in the property.

The percentage of ownership need not be

equal; each party has a right to sell his interest, and upon the death of any of the

owners, that owner’s interest in the property goes to his/her heirs.

3. Joint Tenants: Ownership taken by two or more persons at the same time in equal

percentages with an undivided right to possession. If one owner dies, his or her

interest automatically goes to the remaining owner(s).

4. Tenants by the Entireties: Owners are a

married couple and together they hold title to the property with a right of survivorship.

Upon the death of either, the survivor takes sole ownership to the exclusion of the deceased spouse's heirs.

Unreleased Trust: A mortgage or lien recorded in

the court records that appears to be outstanding (where no Certificate of Satisfaction/release has been recorded).

A HOME IS THE FOUNDATION TO BUILDING A BETTER LIFE. WE PROMISE TO NEVER LOSE SIGHT OF THAT.

Licensed in VA | MD | DC | WVA

Connect with us online or give us a call: www.vestasettlements.com | 703-288-3333

Like and follow us on our social media: @vestasettlements on all platforms

MEET THE

STERN TEAM AT CMG HOME LOANS BILL STERN

BRIAN KEMPF

Branch Manager

SVP, Branch Manager

NMLS ID# 267577

NMLS ID# 483525

Phone: 540.703.2430

Phone: 571.309.4911

bstern@cmghomeloans.com

bkempf@cmgfi.com

KAY PEARCE

MORGAN PETRICH

Production Manager

Production Assistant

NMLS ID# 271064

NMLS ID# 2143674

Phone: 703.775.1754

Phone: 804.953.9335

kpearce@cmghomeloans.com

mpetrich@cmghomeloans.com

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4050 LEGATO ROAD, SUITE 100 &120, FAIRFAX, VA 22033 | BRANCH NMLS# 2382366 CMG Mortgage, Inc. dba CMG Home Loans, NMLS ID# 1820 (www.nmlsconsumeraccess.org), is an equal housing lender. Licensed by the Virginia State Corporation Commission #MC-5521. Georgia Residential Mortgage Licensee #15438.To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing. *The On Time Close Guarantee is valid for FHA, VA and Conventional (Agency only) Purchases only (No loan contingency). All required credit documents and the property appraisal must be received by CMG within 4 days of the closing date. The guarantee will be reduced if the closing costs do not meet or exceed the amount of the guarantee. The On Time Close Guarantee will not apply in any of the following cases: (1) Changes to the original closing date, contract, or loan terms. (2) Delays due to unforeseeable events, including weather or natural disaster. (3) Delays caused by third parties, including but not limited to appraisal and title services. (4) If loan application is withdrawn or denied. CMG reserves the right to amend, terminate or withdraw the On Time Close Guarantee at any time without prior notice. This Guarantee expires 12/31/2024. Consult with your loan officer for more details.

Important numbers E L EC T R IC Pepco (DC and MD) pepco.com 202.833.7500 Dominion Virginia Power (VA) dom.com 866.366.4357 City of Manassas Utilities manassascity.org 703.257.8219 Northern Virginia Elec. Coop (NOVEC) novec.com 888.335.0500 Shenandoah Valley Electric Cooperative svec.coop 540.434.2200 Rappahannock Electric Cooperative myrec.coop 800.552.3904 First Energy firstenergycorp.com 800.686.0011 GA S Washington Gas (serves most of metro area) washgas.com 800.752.7520 Columbia Gas Maryland columbiagasmd.com 888.460.4332 Virginia columbiagasva.com 800.543.8911 Thompson Gas (WV) thompsongas.com 304.725.9776 WAT ER A N D SE W E R DC Water dcwater.com 202.354.3600

WSSC (MD) wsscwater.com 301.206.4001

Town of Front Royal frontroyalva.com 540.635.7799

Frederick Water frederickwater.com 540.868.1061

West Virginia American Water (Note: they just acquired Jefferson Utilities in Oct 2023) amwater.com/wvaw/ 800.685.8660

Virginia American Water amwater.com 800.452.6863

Berkeley County Public Service Water District berkeleywater.org 304.267.4600

Arlington Deptarment of Environmental Services .arlingtonva.us 703.228.6570

Berkeley County Public Service Sewer District bcpssd.org/new-customers 304.263.8566

Fairfax Water fairfaxwater.org 703.698.5800 Town of Vienna Water & Sewer viennava.gov 703.255.6385 Town of Herndon Utilities herndon.va.gov 703.435.6814

Charles Town Utility Board ctubwv.com 304.725.2316 TE LE P H O NE Verizon verizon.com 800.837.4966

Loudoun Water loudounwater.org 571.291.7880 Town of Leesburg Utilities leesburgva.gov 703.771.2701

CABLE SE RVI CE

Town of Middleburg Water & Sewer middleburg.org 540.687.5152 Prince William County Service Authority pwcsa.org 703.335.7900 City of Manassas Utilities manassascity.org 703.257.8245

Comcast comcast.com 800.934.6489 Cox Communications (Northern Virginia) cox.com 703.378.8422 Verizon (FIOS) fios.verizon.com 855.849.3623 Glofiber glofiber.com 833.926.8456

Dale City Service Corp.

703.590.4495 Fauquier County Water and Sanitation Authority fcwsa.org 540.349.2092

Frontier (WV) frontier.com/resources/movers 877.649.3380

Winchester Public Utilities 540.773.1340

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We represent DC/MD/VA/WV Since 1980, we have represented sellers and buyers throughout the DC metropolitan region.

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ALEXANDR IA OFFICE 109 S Pitt Street Alexandria, VA 22314 703.549.9292

ARLINGTON OFFICE 3135 Langston Boulevard Arlington, VA 22201 703.525.1900

ASHBURN OFFICE 42795 Generation Drive Ashburn, VA 20147 703.436-0077

CHARLES TOWN OFFICE 215 W Washington Street Charles Town, WV 25414 304.918.5015

FRONT ROYAL OFFICE 400 N Royal Avenue Front Royal, VA 22630 540.631.9009

KENSINGTON OFFICE 3804 Howard Avenue Kensington, MD 20895 301.979.7270

LEESBURG–HARRISON ST 458 Harrison Street Leesburg, VA 20175 703.777.1170

LEESBURG–MARKET ST 10 W Market Street Leesburg, VA 20176 703.738.8282

McLEAN OFFICE 1320 Old Chain Bridge Road McLean, VA 22101 703.790.9090

MIDDLEBURG OFFICE 10 E Washington Street Middleburg, VA 20118 540.687.6321

PURCELLVILLE OFFICE 113 N 21st Street Purcellville, VA 20132 540-338-7770

SPRING VALLEY OFFICE 4910 Mass Ave, Suite 119 Washington, DC 20016 202.552.5600

VIENNA OFFICE 374 Maple Avenue, E #202 Vienna, VA 22180 703.839.8200

14TH STREET OFFICE 1803 14th Street, NW Washington, DC 20009 202.903.2200

CORCORAN MCENEARNEY EXCLUSIVE BUYER'S GUIDE

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CORCORAN MCENEARNEY EXCLUSIVE BUYER'S GUIDE

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Guiding Clients Home We are proud to have represented tens of thousands of

sellers and buyers throughout the DC metropolitan region.

We look forward to working with you!

Learn more at

corcoranmce.com

Alexandria | Arlington | Ashburn | Charles Town | Front Royal | Kensington Leesburg | McLean | Middleburg | Purcellville | Spring Valley | Vienna | 14th Street 109 S Pitt Street, Alexandria, VA 22314 | Tel. 1.877.624.9322 | corcoranmce.com Each office is independently owned and operated. Copyright 2024 - Corcoran McEnearney. Equal Housing Opportunity.