Category Archives: Lake Anna

buy a second home in Virginia in the woods

Does it Make Sense to Buy a Second Home in Virginia in 2021

After settling down in your home, you start thinking about how to spend your time when you’re away. Spending days traveling is great, but sometimes we wish for a base. Somewhere we want a place to come back to any time we want and relax away from our daily routines. A home away from home seems like a perfect solution. Picking a favorite location and purchasing a second home there is the dream of many families. However, it’s not easy to make this decision – it’s a costly investment and takes time and effort to maintain. But, buying a vacation home surely has its benefits, and we’re here to help you decide if you should go for it. Let’s see if it makes sense to buy a second home in Virginia in 2021 and provide your family with a fantastic place to spend future vacations. 

What are the factors that may stop you from buying a second home?

Every purchase has its pros and cons. When it comes to buying a second home, the factor that worries most buyers are the costs. Making your dream of having a second home come true possibly requires a  new mortgage, but also maintenance costs. Second homes need regular maintenance, furnishing but also paying unexpected costs whenever they come up. Finally, if your first house is located far away, visiting the second home frequently comes with increased travel expenses. 

Remember: Make sure you evaluate your budget carefully before purchasing a second home. Even though this investment comes with additional costs, it shouldn’t be a heavy burden on your budget. Include all the factors and expenses, including taxes, which apply differently to owners of vacation homes. 

 beachfront vacation properties

Even though they have a lot of benefits, vacation properties can cost a lot.

It’s a permanent holiday destination 

Another reason why people hesitate to buy a second home is related to traveling. When owning a vacation home, you hardly ever decide to go somewhere else, which may become monotonous over the years. However, families who love peaceful vacations and a homey base will surely love having a place to go whenever possible. 

Reasons why buying a second home in Virginia makes sense

If you decide to buy a second home in Virginia in 2021, you need to consider all the pros and cons. However, we feel that all the advantages will win over. Let’s go through all the benefits that will show that this decision actually makes sense. 

It’s a home away from home

Even though this seems like just a phrase, owning a second home means heaving a retreat from daily tasks – any time you want. If you decide to buy a second home, pick a location where you can truly enjoy your days off – and Virginia has a lot of them to offer. This way, you can be sure you can have a weekend getaway or a longer vacation in your favorite location where all the daily chores, work stress, and other problems simply disappear.

a road in the woods in Virginia

With just a short ride away, you can have a home away from your home.

You can save on vacations 

Having somewhere to go anytime you need a vacation can save you money, too. You don’t need to spend a lot on hotels, flights, etc. This way, you can have a great vacation – on a budget. Furthermore, the previous year and the global pandemic have prevented people from traveling abroad, so many of them decided to buy a second home within the same state. This is usually far enough to change your environment, but not travel too far away from your home.

Father and son on the beach

If you plan on renting it as a vacation home, it makes sense to buy a second home in Virginia.

Second-home can become a source of income 

Another budget-related advantage of owning a second home is earning from rentals. This investment can become a steady source of income despite some additional expenses that rentals have. However, what worries buyers is the global pandemic that stopped travel and reduced rental revenues. Hopefully, the pandemic is coming to an end, which is why it makes sense to buy a second home in Virginia in 2021. 

Ready for the big purchase?

Buying a second home in Virginia is so exciting, but picking the best location may be challenging. Many interesting nature spots can be a perfect retreat for your family. Do some research and choose the place you will enjoy the most. The next step would be purchasing the property and moving in. 

With both of these, make sure you trust the professionals. Local real estate experts will ensure you find the best property, as they are knowledgeable about the market. Also, an experienced agent will guide you through the buying process and make it a lot simpler. The next step is moving in. Again, trusting a professional to handle your relocation to the new home is essential if you want to minimize the stress and save time. Browse only trusted moving pros at bestcrosscountrymovers.com so you can be sure your items are safe. Unfortunately, the moving industry is filled with low-quality companies, so be sure to do your best to avoid them. 

Prepare for the stay 

If you plan on staying in your second home longer, make sure you prepare your first home first. This means you should turn off the water, get rid of perishable food, take care of your plants or find someone to do it for you. Now you can stay on vacation as long as you want. However, you need to prepare well for a more extended stay.

Pack your vacation items safely 

Once you buy your vacation home in Virginia, you can transport all the vacation essentials there. This way, you won’t risk damaging them when you pack every time you travel. For example, if you love fishing, you will want to pack your fishing equipment so it can travel safely. If you want to bring fishing gear with you, explore the main packing guidelines to keep the items protected during transport and enjoy your favorite hobby without any problems.

Take your time to feel at home 

As you can see, it makes perfect sense to buy a second home in Virginia in 2021. And once you do, remember that settling in a new property is not always fast. Take your time adapting your second home just the way you want it, so you can make it a true oasis for your family.

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Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

3 Charts That Show This Isn’t a Housing Bubble

With home prices continuing to deliver double-digit increases, some are concerned we’re in a housing bubble like the one in 2006. However, a closer look at the market data indicates this is nothing like 2006 for three major reasons.

1. The housing market isn’t driven by risky mortgage loans.

Back in 2006, nearly everyone could qualify for a loan. The Mortgage Credit Availability Index (MCAI) from the Mortgage Bankers’ Association is an indicator of the availability of mortgage money. The higher the index, the easier it is to obtain a mortgage. The MCAI more than doubled from 2004 (378) to 2006 (869). Today, the index stands at 130. As an example of the difference between today and 2006, let’s look at the volume of mortgages that originated when a buyer had less than a 620 credit score.

Dr. Frank Nothaft, Chief Economist for CoreLogic, reiterates this point:

“There are marked differences in today’s run up in prices compared to 2005, which was a bubble fueled by risky loans and lenient underwriting. Today, loans with high-risk features are absent and mortgage underwriting is prudent.”

2. Homeowners aren’t using their homes as ATMs this time.

During the housing bubble, as prices skyrocketed, people were refinancing their homes and pulling out large sums of cash. As prices began to fall, that caused many to spiral into a negative equity situation (where their mortgage was higher than the value of the house).

Today, homeowners are letting their equity build. Tappable equity is the amount available for homeowners to access before hitting a maximum 80% combined loan-to-value ratio (thus still leaving them with at least 20% equity). In 2006, that number was $4.6 billion. Today, that number stands at over $8 billion.

Yet, the percentage of cash-out refinances (where the homeowner takes out at least 5% more than their original mortgage amount) is half of what it was in 2006.

3. This time, it’s simply a matter of supply and demand.

FOMO (the Fear Of Missing Out) dominated the housing market leading up to the 2006 housing bubble and drove up buyer demand. Back then, housing supply more than kept up as many homeowners put their houses on the market, as evidenced by the over seven months’ supply of existing housing inventory available for sale in 2006. Today, that number is barely two months.

Builders also overbuilt during the bubble but pulled back significantly over the next decade. Sam Khater, VP and Chief Economist, Economic & Housing Research at Freddie Macexplains that pullback is the major factor in the lack of available inventory today:

“The main driver of the housing shortfall has been the long-term decline in the construction of single-family homes.”

Here’s a chart that quantifies Khater’s remarks:

Today, there are simply not enough homes to keep up with current demand.

Bottom Line

This market is nothing like the run-up to 2006. Bill McBride, the author of the prestigious Calculated Risk blog, predicted the last housing bubble and crash. This is what he has to say about today’s housing market:

“It’s not clear at all to me that things are going to slow down significantly in the near future. In 2005, I had a strong sense that the hot market would turn and that, when it turned, things would get very ugly. Today, I don’t have that sense at all, because all of the fundamentals are there. Demand will be high for a while because Millennials need houses. Prices will keep rising for a while because inventory is so low.”

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

soon to be parents financial planning

Fundamental Financial Planning Tips for Soon-to-Be Parents

Getting married and starting a family is life-changing. While you’re likely incredibly excited about welcoming children into the world, try not to get ahead of yourself! It’s important that you and your partner are on sound financial footing before embarking on the financial—and emotional—roller coaster that is parenting. If you’re about to get married, and you’re thinking about starting a family, familiarize yourself with the following financial planning tips to ensure you’re prepared, presented by The Licata Group Real Estate.

Make a Will and Declare a Guardian

Writing wills is never fun. No one wants to think about what will happen to their kids in the event of their untimely death. Although these tragic events are rare, they do occur, so it’s always best to plan for the worst. As The Bump explains, drafting a will ensures that your wishes will be carried out regarding how your children are cared for, as well as who will be caring for them, if something should happen to you. Besides dividing up your property among your beneficiaries, your will can be used to declare a guardian for your children. You may also want to include a healthcare proxy and power of attorney to ensure your financial and medical wishes are carried out if an accident or illness prevents you from making these decisions yourself.

Purchase Life Insurance

While you may have been fine without life insurance when you were single and childless, getting married and starting a family changes everything. Now, you have people who depend on you financially. If you should pass away unexpectedly, would your spouse and children be able to maintain their lifestyle without your income? For most young families, the answer is no. This is why every parent—even stay-at-home moms—should consider life insurance! 

You also have to think about your funeral and burial expenses. No family should have to navigate tough financial decisions during a period of intense grief, so make a plan to cover your final expenses while you have the chance. One solution is to purchase a pre-paid funeral. Not all pre-paid funeral plans make financial sense, so take the time to understand what these arrangements will cover and whether this really is the best option for you and your family.

Create an Emergency Savings Fund

Life insurance isn’t the only financial safety net you should have in place. An emergency savings fund can protect your family from taking on debt to cover sudden, unexpected expenses like major home repairs, car breakdowns, medical emergencies, or periods of unemployment. If both you and your spouse hold steady jobs, start by saving three months of living expenses in your emergency fund. If only one spouse works or you’re self-employed, it’s a good idea to put away more.

Remember to Plan for Your Retirement

It’s easy to postpone retirement planning when you have so many other things to save for, like your children’s post-secondary education, but NBC News Better stresses the importance of prioritizing your retirement savings over that of your children’s education. Your kids will have access to several funding opportunities when it comes time for college, including scholarships, student loans, and grants. You, on the other hand, will have to make do with the money you’ve saved up for retirement. 

Develop a Household Budget

Budgeting is the best way to ensure you can afford the additional costs of raising children while at the same time meeting your family savings goals. Make sure you and your spouse are on the same page when it comes to spending. Plan your budget together, differentiating between things your household really needs and things you would like to have. At the same time, remember to set some money aside for fun activities like date nights or going out with friends.

Of course, your household budget can change a little when you decide to purchase a home. There are a lot of things you’ll need to take into consideration when you buy a house, from saving up for the down payment and securing a home loan. There are also things you may not have considered, such as reducing the interest rate on your loan by paying points on the mortgage. The Licata Group Real Estate can help you throughout the process, so get in touch with one of our agents whenever you’re ready.

Discussing your financial plans is a chance to build a stronger bond with your new spouse. While talking about money may not be the most romantic activity, it can be fun making goals and dreaming about your future together. Getting your finances organized now will set your family up for a lifetime of stability and stress-free living!

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

Virginia scenery

Moving from Maryland to Virginia to Start a Family

First of all, congratulations. You have chosen a great state to start a family in. Virginia is a safe and wholesome state that has a lot to offer. It is a family-friendly state, as raising kids in it is easy. However, you have to get there first. Moving from Maryland to Virginia is considered an interstate relocation, and those kinds of relocations need to be well organized. So, make sure to stick with us to the end if you want to find out how you can move to Virginia with the least amount of trouble and start a family there!

There are a lot of things you can do in Virginia

Virginia is one of the most famous states in and outside the US. This means that it is an old state, with a lot of history and many things to do in it. 

One of the best spots in this well-known state is certainly Orange County. There are many things to do in Orange County, and it is no wonder why many families decide to start a new life here. As we already mentioned, Virginia is a safe state, with a plethora of opportunities for children and adults alike, as it offers excellent education and many job opportunities!

Make sure to plan your move and create a strategy

Planning is essential for every relocation. Moreover, no relocation is possible without proper organization, let alone an interstate move. This is why you need to take moving organization seriously and create a strategy of how and when you are going to move to Virginia.

A person planning a relocation
For everything in life, it is good to have a plan. Moving from Maryland to Virginia isn’t an exception

Find a good moving company

Moving organization starts with searching for a good moving company that can take you to Virginia. There are many movers on the scene, but you need to hire real professionals if you want to organize the process in a flash since interstate moves such as those from Maryland to Virginia can be very time and energy-consuming.

Make sure to compare different moving companies online, look at their reviews, and get in touch with as many moving companies as you can. You also need to remember that you need to book your move at least two months in advance.

Calculate the costs of the move

In the early phases, it is impossible to precisely calculate how much your move will cost you. However, you can get a rough estimate if you include all potential expenses. Good moving calculation always leaves some space in the budget for unexpected circumstances. This means that you have to leave a financial margin in your estimate if something goes wrong.

The main cost you’ll want to include in your calculations is the cost of hiring a moving company. Every respectable moving company has a moving calculator, which enables customers to roughly calculate the cost of the move. Keep in mind that online estimation doesn’t have to represent the price in the real world.

Also, you need to include the cost of moving insurance, the cost of renting a storage unit, hiring professional packers, etc.

Pack for the move or hire professionals

Most people choose to pack themselves for the move. Sure, that way you might save some money, but in return, you’re going to lose a lot of energy.

 Professional packers packing a window.
It might not be a bad idea to hire professional packers for your relocation.

However, if you choose to do so, here’s what you need to buy:

  • boxes, plastic bins, and similar containers
  • packing tape
  • a marker
  • some kind of protective material like packing peanuts
  • crates

You can get most of these materials at the nearest supermarket, and they are not that expensive. However, if you don’t want to lose time and energy on that or have special items you wish to move to Virginia, we recommend hiring professional packers trained to do that.

Renting a storage unit in Virginia is preferable

Many people forget the importance of storage units. Storage units are handy when moving to a new location since you can never exactly know how much space you’ll have for your stuff. In short, it always helps to have a place in which you can leave your things after the move.

A storage unit
Many people forget to rent storage after a relocation. This can cause a lot of trouble. Don’t let this happen to you when you’re moving from Maryland to Virginia!

But, if you want to take two pigeons with one bean, you might want to find a moving company, such as Helix Transfer & Storage, which can offer storage solutions as well.

Find good housing 

As we already mentionedOrange County in Virginia seems very attractive to families, especially ones with children.

One of the reasons behind that is the excellent state of the real estate market in the county. In Orange County, you can get a fantastic home for a reasonable amount of money and live in friendly suburban neighborhoods, perfect for anyone who wants to start a family in Virginia. 

Also, buying a home in Orange County is an excellent opportunity for some serious investment. It is predicted that the prices will continue going up, and many experts recommend that investors jump on the train and reap the benefits of coming to market early.

All in all, Virginia is a prosperous state with its own little renaissance at the moment, as it offers an excellent opportunity for families to develop and grow properly. This is why we think that Moving from Maryland to Virginia to start a family is a great choice.

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Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

12041 belfonte rd, bumpass va 23024

12041 Belfonte Rd, Bumpass, Virginia 23024 now UNDER CONTRACT!!

Welcome to 12041 Belfonte Road! If acreage and privacy are what you crave, then this is the one! You will enjoy entertaining family and friends with the privacy of 3+ acres, a two-tier expansive deck, fire pit, horseshoe pits and space to roam and create your own backyard oasis. That’s only the beginning, the inside features a family room with a stone fireplace for those chilly winter evenings. A spacious kitchen with a center island, and pantry. You will love the owner’s suite with en-suite bath featuring a soaking tub, double vanity and separate shower, as well as the split bedroom design. All this close to Lake Anna, Lake Anna Winery and Lake Anna state park.

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

Reap the Benefits of Your Realtor Even After You’ve Moved

Key Takeaways:

  • Our real estate expertise goes far beyond just buying or selling your home—you can rely on us for quality resources before and after you’ve moved.
  • Whether you’re searching for the best local handyman, a notary, or something else entirely, you can trust our vetted providers to get the job done.
  • If you ever need a real estate recommendation—today or years down the road—just give us a call for personalized advice!

Unlock Our Exclusive Real Estate Recommendations

We like to consider ourselves real estate experts, and we love being able to share our knowledge with you! Throughout our years of working in the housing market, we’ve formed deep relationships with not only our clients, but with local trusted businesses, too. We’ve vetted these vendors ourselves so that you don’t have to play the costly game of trial and error.

Need some personalized recommendations or strategic advice? Here’s how your agent can serve you even after you’ve moved.

Sellers, we don’t stop at “SOLD”

couple with a sold sign

When we say we’re by your side every step of the way, we mean it—which means our services never stop at “SOLD!” Whether we’ve just listed your home or already sold it, we know there’s always more work to be done. Seemingly small details go a long way in making a house a home. We’ve worked with the best professional landscapers, painters, and cleaners in the area—all contacts you need to put the finishing touches on your space.

We consider our clients to be one of our own, which means our exclusive buying and selling resources are always available to you. At any time, you can see if your home value has increased using our free estimator or jumpstart the buying process after you sell with our advanced search tool. Our real estate professionals have gained invaluable experience in working with our clients, so we try to return the favor whenever possible by providing in-depth insight.

New homeowners, you’re not done with us yet

Couple holding keys to a home

We loved helping you find your dream home so much that we want to keep working with you—and honestly, we think we’re going to need each other! Homeownership is a huge investment, so you want your new place to be in tip-top shape at all times.

First things first, it’s important to change your locks when you move into your home, since you don’t know who might have a copy of your keys. Don’t know of a local locksmith? Don’t worry, we’ll open some doors for you! Don’t let a household repair linger just because you don’t know a trusted provider who can get the job done. Whether you’re looking for a handyman to lend a helping hand on a home project or need repairs for your HVAC, you can count on our personalized recommendations for the most reliable providers in the area!

And for when you’ve been watching (maybe too much) HGTV

Older couple talking about renovations

We get it, watching Fixer Upper makes you want to DIY your entire home, especially if you’re thinking about listing soon or just moved in. But for when you’re not in the mood to do it all yourself, we’ve got contacts for everything from new light fixtures to full-on home renovations. Our desire for you to live in your dream home doesn’t stop when you sign the closing documents, and we will always be available to help with any home improvements.

Want Access to Our Preferred Vendors?

Working with a top-notch real estate agent means you’ve gained a partner for life. So when anything comes up in your buying, selling, or homeownership journey, just give us a call!

Whether you’re at the beginning of the selling process or have already bought your dream home, you can always rely on us to connect you with the area’s best vendors. Contact us today for any recommendations you may need—and don’t forget, we’re locals too, and we love to catch up with our clients!

Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available Lake of the Woods properties, please visit our site.

LicataLive! at 11AM, Every Tuesday on Facebook!

Join us every Tuesday at 11 AM EST on our Facebook page for Licata Live,

where you can ask questions to different members of our team every week!

Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Northern Virginia, or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar, and in a timely manner. Pricing your home accurately, one of our area expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available properties, please visit our website licatagroup.com

Casino Night at Stonewall Harley-Davidson, Saturday 11/9/2019

Are you feeling like lady luck is on your side? Try your luck at Casino Night on Saturday, November 9th from 6PM – 9PM! Hosted by Stonewall Harley-Davidson (385 Waugh Blvd, Orange, Virginia 22960) you’ll enjoy FREE food, beverages, raffles, casino games and much more! As a special incentive, those that come dressed in Roaring 20’s costume will receive an additional $500 in “Dealer Bucks” to start off the night! There will be a $5 cost at the door, will proceeds benefiting the Orange County Animal Shelter. Don’t miss your chance at what is sure to be a night for the ages! If you would like to learn more about this event, click here!

 Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Norther Virginia or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar, and in a timely manner. Pricing your home accurately, one of our area expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available properties, please visit our website lakeofthewoodsvirginia.com

Should You Hire a Real Estate Agent or Lawyer When Buying a Property

When you’re thinking about buying property, one of the first questions that pop to mind is, “Should I do this on my own or hire some assistance?” In a huge majority of cases, the answer is that doing everything on your own will make the process much, much harder, and we’d also be very surprised if you got a good deal without some assistance. In most cases, the only real question is: “Should I hire a real estate agent or a lawyer?” Both can be of invaluable assistance when it’s time to buy a property, but the ways they can help differ. 

Why You Should Hire a Lawyer

What makes a real estate agent different from a lawyer when it comes to buying a property? First of all, by law, real estate agents cannot give legal advice. While you are not obligated by law to hire a lawyer when buying a property here (unlike in some other states), you may have some legal questions that only a lawyer can answer. For example, you may want to rent a property for some time (let’s say for a year) before making the decision on whether you should buy the property or not. If the seller agrees to that, an attorney can draft this unusual contract and provide legal advice on the matter that a real estate agent could not.

A good lawyer will help you by answering all the legal questions that a real estate agent cannot lawfully answer.

As lawyers charge an hourly fee, before buying a property and moving in with the help of experienced professionals from dumbomoving.com, it’s a good idea to make a list of all the legal questions you may have and arrange a meeting with an attorney. Then, you can ask everything you need, as well as make arrangements on all the additional services you may need that a real estate agent can’t help you with (drafting the contract from the previous paragraph, for example).

Why You Should Hire a Real Estate Agent

While a lawyer will help you with some specific parts of the home buying procedure, you’ll still need to hire a real estate agent as well. A real estate professional will be with you every step of the way, acting as a sort of a guide to your home buying process. And if you’re buying a property, you’ll be pleased to learn that sellers are the ones who will pay the agents of both parties. The commission is usually 10 percent of the arranged home price, divided equally between the two agents. The logic behind this rule is that sellers will be receiving a lot of money, and so they should be the ones to pay all agents who will take care of the buying-selling process.

So, if you hire a real estate agent, your wallet won’t have a problem with that; you will basically get an invaluable service for free. And what exactly does that service entail? Buying a property is a complex procedure – lots of paperwork will need to be done, inspectors will need to be hired, a comparative home prices analysis will need to be prepared, etc. While some lawyers will try to convince you that they can do everything on their own, that is most often not the case. Real estate professionals will be better at all of these tasks, simply because they have dedicated their lives to buying and selling real estate; they have much more experience and they know how to use it.

Apart from many other ways that a real estate agent can help you, he or she will be able to find a perfect house for you in the specified neighborhood.

This gives them an edge in all sorts of home-buying tasks. Apart from the ones we have already mentioned, they are also much better at negotiating. Let’s say that, for example, some parts of the home will need to be fixed. You’ll need to determine whether you or the seller will be the one who has to make these repairs. In this case, a good real estate agent will help you negotiate an arrangement that is better for you financially. What’s more, an experienced real estate agent who is a good fit for you will be acquainted with the neighborhood where you’re looking for your dream home. He or she will know just what to look for based on your description.

Additional Things to Have in Mind

So, should you hire a real estate agent or a lawyer? The answer is – why not both? Combining the individual strengths of these two professions will get you the best deal. Rely on attorneys for legal advice that a real estate agent cannot offer, and hire a real estate agent for everything else.

Before you hire a real estate agent and a lawyer who will seal the deal, you’ll need to have some things in mind. Alt text: A man signing a contract.

Still, simply hiring any real estate agent and lawyer is not enough; you will need to find a dependable and competent real estate agent, and the same goes for your lawyer. Here is what to look out for:

  • Sometimes, it may so happen that an opportunity to share a real estate agent with the seller emerges. In our opinion, that would be wrong to do. As real estate agents make a living off of commissions, they might be looking for the sellers’ best interest in this situation and not yours. Ethical agents who won’t do this certainly exist, but it’s best to be on the safe side anyway.
  • Real estate agents may press you to offer a higher price because of similarly unethical reasons. The more you pay, the larger their commission, after all. What’s more, some of them will be afraid to negotiate because doing so might mean that they won’t get to close the deal. If it seems that your agent doesn’t respect your opinion and is only looking to close the deal as soon as possible, it is best to find a different agent. Doing research on your own regarding home prices in the given neighborhood will help you avoid such unpleasant situations.
  • Most lawyers prefer to be hired and paid only after the home buying process is complete. However, it may suit you more to only pay for one consulting session or one or two specific tasks. That can be arranged, just have the arrangement in writing (better safe than sorry).

Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Norther Virginia or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar, and in a timely manner. Pricing your home accurately, one of our area expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available properties, please visit our website lakeofthewoodsvirginia.com

Annual Wine and Oyster Festival September 21st-22nd

Wine and Oyster lovers rejoice! Your favorite festival is back again! Make sure that you’re at Stratford Hall on Saturday September 21st, and Sunday September 22nd for the Annual Wine and Oyster Fest! Enjoy tasting countless wines from Virginia wineries, and have your fill of coastal Oysters. Be sure to check out some food trucks, and local artisan booths that will be set up around the event. The fun doesn’t stop there, as plenty of music and entertainment for all ages can be found; including specialty car with the Mustang club showing off on Saturday, and Memory Lane Car Club on Sunday. Ticket prices vary, and online ticket sales will end on September 19th at midnight. This is one festival that you don’t want to miss out on! For more information about the event, be sure to click here!

 Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Norther Virginia or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar, and in a timely manner. Pricing your home accurately, one of our area expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.

To see available properties, please visit our website lakeofthewoodsvirginia.com