Did You Know? – Dual Agency in Virginia

Posted on Feb 1, 2017 in Buying or Selling, Renting

Many consumers are not aware of Virginia law as it pertains to dual agency in real estate (in which a single agent represents both the buyer and seller). In general, a “dual agent” is largely prohibited from offering advice to either side.  In fact, in Maryland dual agency is illegal.  

 As published by the Northern Virginia Association of Realtors (NVAR), “The code of Virginia sets forth what services a dual agent cannot provide:

 1. The agent will be unable to advise either seller or buyer as to the terms, offers or counteroffers (except, however, that the dual agent may have already provided such advice to the seller prior to representing the buyer); 2. The agent cannot advise the buyer as to the suitability of the property, its condition (other than to make any disclosures as required by law of any licensee representing a seller), and cannot advise either party as to repairs of the property (to make or request); 3. The agent cannot advise either party in any dispute that might later arise relating to the transaction; 4. The agent will be acting without knowledge of the client’s needs, client’s experience in the market, or client’s experience in handling real estate transactions unless he has gained that information from earlier contact with the client. Remember that either party may engage another licensee if additional representation is required.”

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First Time Buyers Trust John Seggerman

Posted on Dec 19, 2016 in Buying or Selling

Looking for your first home can be an overwhelming experience, that’s why having an experienced real estate agent representing your interests is so important. You need someone on your side, protecting your rights and answering your questions. But your real estate agent does much more than simply show you houses and answer questions; your agent is legally bound to present any offer you wish to the seller, and to negotiate to help you get your dream home at the price that works for you. First time buyers trust John Seggerman to help them navigate the often confusing paperwork.

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Common Pitfalls in Real Estate Investing

Posted on Dec 5, 2016 in Buying or Selling

Why Do People Invest in Real Estate Properties?

Residential real estate has several benefits that enable it to stand out from other investments. For example, real property’s base value can rise, while providing owners with a constant stream of rental revenue (i.e. a source of income). Furthermore, real estate investors can exert significant influence over the value of their investments, which cannot be said for many other types of investment. However, interested individuals should remember that real estate comes with its fair share of both pros and cons, meaning that one should be deliberate and manage their enthusiasm.

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Why Is Snow Such a Huge Problem for Home Buyers in Winter?

Posted on Nov 24, 2016 in Buying or Selling

Should People Buy Homes in Winter?

Wintertime conditions mean that there are fewer people interested in buying homes, which in turn, means that there are fewer homeowners interested in putting their homes up for sale. However, various life circumstances often give some people no choice but to sell their homes in winter.  As a result, home buyers in winter can sometimes get good deals because of their strong bargaining position.  That said, it is important to note that winter conditions mean special challenges for wintertime home buyers, with the build-up of snow being an excellent example.

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