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.
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.
One of the most crucial traits that any successful real estate investor must possess is the ability to spot a good opportunity. And in a market as volatile as real estate is these days; that’s not always easy. Keeping your hand on the pulse of the latest real estate development trends is a complicated thing. But there is one strategy that is always consistent in its success: becoming a student landlord.
Obviously, most landlords don’t feel comfortable renting to people who have probably never lived by themselvesin their lives; which is certainly correct. But despite such legitimate concerns, if you invest in a university-adjacent property, you could actually net quite a tidy profit. On average, a house that’s near a college campus can give you profits almost 40% higher than the same house in a different neighborhood. That’s precisely why we’ve prepared a guide for you right here!
The Benefits of Investing in Student Housing
Let’s face it – millions of brand-new students enroll in universities each year, all over the country. That’s why college towns are actually one of the most certain real estate investments when it comes to residential rental properties. You’ll never lack demand, as campuses will provide a source of new tenantswhenever you need them. And all of that competition will drive rents higher, which is great for property owners.
So, if you’re looking to shore up your retirement strategy and expand your portfolio as a real estate investor, this is a great opportunity for all that and some neat passive income that doesn’t require much input past the initial investment. Andif you’re an investor who can’t boast with a huge marketing budget, all the better! Being a student landlord means your tenants will basically find you.
This is a good idea for people who want to sell their home in a college area and move somewhere else as well – a great way to enter the real estate game! Just calculate your moving expenses in advance, and use the remainder of your disposable income to spruce up the place. You’ll soon have college tenants knocking on your door. And then, instead of selling your home, you’ll have a constant influx of steady profit.
Rental Demand
So, just how good is the demand when it comes to rentals in college towns? The official statistics show that you definitely won’t be wrong in renting out student housing, from that perspective. Two years ago, The College Board published a study dealing with the average life of an undergraduate student. And one of the interesting pieces of information is the fact that almost 45% of students don’t live on campus. Obviously, these numbers slightly differ between private and public universities, with more people living on campus in private universities.
So, before you decide to sell your propertyfor a tidy profit, consider renting it out long-term to college students, gaining a respectable source of steady income in the process. And if you’re scared that this trend of high demand in college areas will change over time, you can rest easy! Earlier studies show that this is a trend that has been one of the most consistent ones in the entire real estate industry, even throughout the mortgage crisis of 2008!
Sure, rental demand in college towns sees tiny fluctuations throughout the academic year, but college towns still produce a consistent stream of housing demand; not just from students, but from the accompanying staff and professors.This makes such areas extremely attractive for mid-range investors.
High Rental Yield
There are quite a few reasons why real estate investors are attracted to such a rental niche, but the main one is simply that it pays consistently. With the constant high demand in mind, it’s no wonder that college rental properties don’t have problems generating quite a steady cash flow for their owners, at least compared to traditional rental properties. A lot of students simply choose to search for housing off-campus, as living on campus can prove to be even more costly than renting a home.
You can predict a sizable return on investment compared to traditional rental investments! /alt: A graph representing rental finances.
As a study from relevant industry sources shows, real estate owners who decide to invest their resourcesin a student housing property can actually hope for a return on investment that’s bigger than 10%. To give you some perspective on that – many real estate owners and investors believe that a return on investment that’s higher than 5% is a pretty sweet deal.
Tenant Expectations
One of the toughest things with residential rental properties is managing tenant expectations. But when your tenants are students, that isn’t too big of an issue. Remember – most of these people haven’t lived by themselves anywhere before, or they have just lived in a dorm room. So, especially since these are mostly young people, they don’t expect the condition of the property to be as pristine as a suburban family that’s renting out the place might. You can save quite a bit of money on the property investment alone. Trust us, the quality of the flooring and the perfection of the paint job isn’t something you’ll have to think about when you’re renting out to students.
Tenant expectations are much lower when they are students! /alt: A student reading a book in a library.
Conclusion
As you can conclude, renting to students is not such a daunting proposition as it first seems. Sure, you need to be prepared to deal with younger tenants, but the constantly top-tier demand and solid return on investment you can achieve is definitely a tantalizing idea.
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 home owners. 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.
Do you want to see what is sure to be a show to remember? Then you’ll be happy to hear that the Lake of the Woods Players are proud to be showcasing Andrew Lloyd Webber’s first musical: Joseph and The Amazing Technicolor Dreamcoat! Based on the Biblical story of Joseph, son of Jacob, and his coat of many colors; this family friendly show will definitely be one for the ages! The first Showing will be on October 18th at the Lake of the Woods Community Center. Tickets will go on sale Sept. 9th, and can be purchased through lowplayers.org with a special price of $15 for children under 12!
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 home owners. 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.
If you are thinking of selling within the next 18 months, this is where you need to be on March 9th!
There will be many local vendors that are there to help you! We have a trusted lender attending, professional photographer, and a home inspector, just to name a few. We want to provide you access to all the resources you will need to sell your home for the most money in the least amount of time.
You will have the opportunity to ask questions not only to the listing agent, but also the vendors that will be presenting.
Selling your home doesn’t have to be a hassle and we want to make sure you have all the information you need so you know what to expect!
Please join: Licata Group on Saturday, March 9th from 11am – 1pm at the Lake of the Woods Clubhouse in Locust Grove.
RSVP by March 4th by email: jane@licatagroup.com or phone 540-388-2541.
Reserve your spot today!!!
Light refreshments will be served.
See you there!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your professionals for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia, we are your proven Real Estate professionals. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by home owners. 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.
Cozy home to call your own! New carpet and laminate flooring! Skylights, large windows and french doors provide an abundance of natural light! Fabulous location, just a short walk to Sweetbriar Park and pool or stay home and relax on your own back deck. Enjoy all the lake has to offer; take a dip in the lake, play a round of golf, or take in the dinner at the clubhouse overlooking the lake!
Directions: Rt 3 into Lake of the Woods. R at gate. R on Liberty. L on Yorktown. R on Freedom. R onto Parliament.
Whether your looking for homes for sale in Lake of the Woods Va or Waterfront property in Virginia or homes for rent we are your professionals for Stafford, Fredericksburg, Spotsylvania, Locust Grove and Central Virginia, we are your proven Real Estate professionals. Thinking of selling? In any market condition, that’s the #1 question asked by home sellers. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. The Question is how much is it worth? 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!
Saturday, March 10th from 10 AM – 11 AM, Malawi’s Pizza at the Spotyslvania Towne Center will be hosting Breakfast with the Easter Bunny!
$7 + tax, per person, will include one 8 inch Pizzetta with scrambled eggs & cheese (up to 3 additional toppings can be added) and a small fountain beverage will be included with free refills. Full menu will be available at regular price.
Space is LIMITED and first come, first served!! Absolutely NO registration required.
Why eat at Malawi’s? For starters for every meal purchased at Malawi’s restaurant, a nutrient-dense meal is donated to a child in need. They also celebrate multiple charities and rally around different causes to build relationships with others.
They offer signature dough, sauces, toppings and dressings! Come try some delicious new food if you haven’t already!
Whether your looking for homes for sale in Lake of the Woods Va or Waterfront property in Virginia or homes for rent we are your professionals for Stafford, Fredericksburg, Spotsylvania, Locust Grove and Central Virginia, we are your proven Real Estate professionals. Thinking of selling? In any market condition, that’s the #1 question asked by home sellers. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. The Question is how much is it worth? 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!
Murder Mysteries Will Travel – strikes again! They will be at The Generals’ Quarters in Locust Grove on Saturday, March 3rd at 6 P.M.
The scene: A reception is held for Senator Dan Drewnell and his wife. Before his introduction, he is shot! Now let the fun begin – enjoy watching the comedy and suspense unravel right before your eyes as you try to uncover who the murderer is! Will you figure it out before the end of the show?
There are limited seating and the tickets are $65 per person. Your ticket includes: the show, dinner, tip and tax! Reserve your spot today!!
Whether your looking for homes for sale in Lake of the Woods Va or Waterfront property in Virginia or homes for rent we are your professionals for Stafford, Fredericksburg, Spotsylvania, Locust Grove and Central Virginia, we are your proven Real Estate professionals. Thinking of selling? In any market condition, that’s the #1 question asked by home sellers. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. The Question is how much is it worth? 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!
What a fun and exciting way to hunt for Easter eggs this year!
On Saturday, March 31st from 11 am – 2 pm bring your children to a FREE Easter Egg Drop event in Orange, VA.
Location:
Orange Baptist Church Rt. 15 N Property (across rt.15 from Round Hill Inn/CVS)
U.S. 15 N
Orange, VA 22960
There will be 2 different “Drops” for 2 different age ranges. The first drop being at 11:30 AM is designated for children aged 3 – 7 years old and a 12 pm for the 8 – 12 years old.
There is even a special roped off egg hunt area for infants through 2 years old.
WHAT is an Egg drop, anyway?? A helicopter with a bucket of plastic, colorful eggs will fly overhead and unload all the eggs! After the helicopter is out of view the children can begin the hunt for their eggs. The eggs collected are then traded in for a bag full of candy! How sweet!
This event is filled with much more than just the Egg Drop. There will be hayrides, food trucks, a photo booth and of course, Easter-themed games.
There will even be a presentation of the Easter Story!
Don’t forget it’s FREE so bring the whole family to share the joy and experience with!
Whether your looking for homes for sale in Lake of the Woods Va or Waterfront property in Virginia or homes for rent we are your professionals for Stafford, Fredericksburg, Spotsylvania, Locust Grove and Central Virginia, we are your proven Real Estate professionals. Thinking of selling? In any market condition, that’s the #1 question asked by home sellers. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. The Question is how much is it worth? 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!
OC’s Tourism Manager and Economic Development Manager to Address Civic Club
By Pat Licata, Civic Club President
Please plan to join the Civic Club on Wednesday, February 21st, in the Clubhouse Great Hall at 7pm. Lori Landes-Carter, Tourism Manager, and Phil Greer, Economic Development Director, will be providing an overview of Orange County as it relates to their respective positions. Ms. Landes-Carter, a native of Orange County, accepted the Tourism Manager position last month; she had been the Executive Director for the OC Chamber of Commerce. Lori is the contact person for OC’s tourism program, preparing and delivering presentations on tourism program development, implementation, and management. She also coordinates and manages departmental programs and activities with key tourism principals, including tourism-related businesses and local and regional visitor attractions. Lori, her husband, and her seven-year-old son are Lake of the Woods residents. As Economic Development Director of Orange County, Mr. Geer’s role is to perform professional and administrative work which results in increased capital investment and job creation while maintaining and/or increasing the quality of life within the county. As you might imagine, the scope of work involved is wide-reaching. A few of Phil’s responsibilities include assisting prospective businesses, existing companies, and nurturing local startups and overseeing OC’s promotional materials and online presence.
Phil, his wife, and their English bulldog and two cats currently live in Greene County.
Whether your looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia, we are your professionals for Stafford, Fredericksburg, Spotsylvania, Locust Grove and Central Virginia. We are your proven Real Estate professionals. Thinking of selling? In any market condition, that’s the #1 question asked by home sellers. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. The Question is how much is it worth? 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!
