Buying and Selling a home can be a very detailed and complex process. There are many forms and contracts to navigate; deadlines to meet and pitfalls to avoid.

Every Real Estate Agent has a client; whether it is the Seller or the Buyer. If a homebuyer walks into an Open House - that agent is working for the seller - NOT the buyer. While they will certainly be happy to guide you through the buying process - they are doing their job by negotiating on behalf of the seller.

Every buyer should have their own Buyer's Agent; An advocate to guide them through the many steps of buying and avoid the many potential problems that loom out there in every Real Estate transaction.

While there are many steps; we can narrow down the start to 3 points:

Location: Where is it you want to live? Maybe you have a certain part of the Washington DC area in mind; maybe you insist on being in a certain neighborhood in Arlington or in a new condo complex in Penn Quarter. Think about commute distance to work; location of stores, schools, nightlife. Think about how you want to use this home and what neighborhoods will offer these things.

Budget: You need to know how much you can afford. This is not just how much a lender will give you - but does this fit into your budget? Having a good price range of homes will help guide you into finding what homes you want to go and take a closer look.

Type of Home: Are you thinking Condo or Townhome? Single Family or RowHouse? Here are a just a few things you should think about in terms of "MUST HAVEs" and "LIKE TO HAVEs":

- How Many Bedrooms and Baths? (Like to have 3 - must have ?)
- Parking. Street, Garage, doesn't matter?
- Pets. 2 small Dogs, 1 cat, no pets, 1 80 lb Lab?
- Basement. Must have? Finished? Unfinished?
- Hardwood? Carpet?
- Big Kitchen? Small Kitchen?
- Yard? Balcony?
- Walk to Metro? Bus to office?

By thinking through these 3 points; you will be on your way to thinking about where, what and how much; in terms of your home purchase.

One of the most important 1st Steps is: knowing your budget. Think about what you spend now and if you can afford more or less than you are currently paying.

Next you should seek out a trusted lender. Jim and the Downing Group; have established relationships with leading local lenders with many different banks and lending institutions. These are lenders whom have a proven track record with past clients and understand customer service and integrity to the extreme. ***Insert LINK*** Click HERE to see the Recommended Lenders.

Never buy more home than you feel is comfortable and if you are really not sure; Jim can help you determine a comfortable price-range.

Buying is not for everyone. If you are the person who gets transferred from city to city every 2 years; then renting may in fact be the best solution for the time being. If however you plan on sitting still for a few years; why waste it on rent?

Lets say you pay $1200 a month in rent. After 5 years you have paid $72,000 to someone else. Now true; when paying a mortgage - much of the 1st few years of payments go toward interest - however some does in fact pay down the principle of the loan. This is to say nothing of possible tax benefits that many homeowners enjoy.

As the property appreciates; your homes value increases. Your landlord won't suddenly tell you the rent is going up or that you have to move; or that you can't paint your living room wall.

There are questions, which Real Estate Agents cannot answer to a client. Fair Housing laws and our Code of Ethics does not allow us to answer questions that could be subject to personal judgment or interpretation. Some of these questions are:

- Is this a safe neighborhood?
  What is "safe" to you, may not be "safe" to someone else; or the last client.
- How good are the schools?
  Again, what is "good"? Are they the "BEST"? Who's best?

- What kind of people live here?

While Jim knows the neighborhoods and knows the market data; he does not know all the people or have the current census data on hand.

- Will the value of my home go up next year?
  I hope so; but no one really knows.

What Jim can do is provide you a list of resources and websites for you to determine for yourself what a "Good" Neighborhood is or where a "Safe" neighborhood is located. While he or his team can't answer these questions; they won't leave you lost and without a direction.

Most of the home sales are easily accessible for your Real Estate agent. While you can yourself try and search the public record; Realtors have this information close at hand and can provide this for you.

We can also show you a comparison of homes in the neighborhood based on location, size and features.

Well over time; Yes your Property Taxes will most likely go up. However, in many counties and jurisdictions; increases are limited to a percentage increase every year to avoid huge jumps.

Your Real Estate agent can help you determine what the current taxes are on the properties you are considering.

Today's MLS (Multiple Listing Service), includes most every home for sale - complete with pictures and descriptions. Over 80% of Home Buyers today are looking for their home over the Internet. Pictures, Virtual tours and 3rd party tools, such as Google Mapping and Street Views, allow buyers to not only see inside a home; but up and down the street and around the corner.

Real Estate ad space is both limited and expensive. Many brokers and owners use a language of their own. Here is a guide to some of the many abbreviations you may encounter:

BA = Bathroom

BR = Bedroom

Brk = Brick

CAC = Central Air-conditioning

DR = Dining Room

FHA= Qualifies for an FHA mortgage

Fml = Formal (Living/Dining room)

fpl = Fireplace

Fr = Family Room

FSBO = For Sale By Owner

H/W = Hardwood Floors

gmt kit = Gourmet kitchen

LR = Living Room

mstr = Master Bedroom

Mtg = Mortgage

S/S = Stainless Steel

TH = Townhouse

VA = Approved for a VA Mortgage

W/D = Washer/Dryer

w/o = Walk-Out (basement)

yd = yard

This is often a matter of personal taste and style. An older home which has been well cared for may have elegant features and architecture; which are hard to find in a newer, more modern home. However a newer home may have a larger kitchen and baths and a more open floor plan.

To alleviate some worry about an older home, a home warranty can either be purchased by the buyer or often negotiated into the contract as a seller paid item. This warranty can often protect the buyer during the 1st year of ownership against repairs of certain appliances and systems in the home.

Bring a pen and note pad and be prepared to take notes. A tape measure will help to measure rooms, such as bedrooms. Think about how you would use each room; does the home have the right features and "flow". If you never hang-out in the kitchen than does a fancy breakfast bar matter? Maybe you need a bigger family room.

Look at the ‘systems' of the home. While an inspector is your home expert; you should perform a visual look at the visible plumbing, roof, hot water heater and furnace/central air unit.

Don't discount your sense of smell to locate "damp" basement or rooms with poor circulation; or patios with overwhelming smelling flowers.

You should tell your agent everything pertinent to the Home Buying process. It's confidential. Your agent can only advise and guide you based on what he knows. If you are adopting twins next month - they need to be helping you find that extra bedroom in a home.

If you have a financial concern; you should discuss this with both your lender and agent. Remember, a Buyers Agent and your lender are working for YOU - the buyer.

An Appraisal is a price opinion of a professional, licensed Appraiser. Their job is to compare the home you are buying with comparable homes in the neighborhood with similar features and determine the price you are paying; is in line with the current sales and market trend.

The Appraisal is ordered by your lender and is chosen by a 3rd party to ensure an uninfluenced price opinion.

A Home Inspection can be performed by anyone; however hiring a Licensed Home Inspector will provide you with the most protection. Home Inspection can cost $300-$1000; depending on the size of home and if you add on services such as radon, mold or lead-paint inspections.

The Home Inspector can only report on what he sees; but will generally check things like the roof, crawl space and attic, Furnace, plumbing and electrical systems. That report can then be used to negotiate seller paid for repairs or help the buyer determine if in fact; this is the house he wishes to purchase.

While you don't always need one; rarely is it a good idea NOT to get one. Maybe if you are buying a small condo in a well-maintained condo building - you won't have one; but pretty much is always a good idea.

Your agent should attend the inspection and you should also plan on being at the inspection. The inspector can show you things like where the water and gas shut-off are; and how systems work or need repair or maintenance.

The contracts we use the DC Metro area; have been written and reviewed by many lawyers. They are however, real binding contracts; and if you have questions - you may retain your own lawyer to review them.

Buyers and Sellers do work with a Title Attorney during the transaction. The attorney does not represent either party - however they are ensuring the paperwork is properly completed and the Title is transferred to the new owner and recorded with the local government.

When making an offer on a property the buyer will need to put down an earnest money deposit. This is money that shows you are serious and ready to buy a home. A typical Earnest money deposit is 1% to 5% of the sales price. If your offer is accepted; this money is placed into an escrow account and 100% of it is used towards your downpayment and closing costs. If however, you back out of the contract without exercising a contingency (such has a bad home inspection); then you may lose the deposit.

Going to closing or ‘settlement' is the day you actually go to the Title Attorney's office and take position of your new home. You will sign all your loan documents and the seller signs over title of the property to you in the form of a signed deed. You will agree to the terms set forth in your mortgage.

At this time you will make the final payment of closing costs and down payments with either a Cashiers/certified check or using a pre-arraigned wire transfer.

You will also receive the keys to your new home and the Attorney will then record the deed at the city or county courthouse/registry of deeds.

You should make sure that all the utilities are turned on in your name. Next it is always a good idea to change the locks, put in fresh batteries in your smoke detectors and make sure you know where the main water, gas and electrical shut offs are. Also you should place all your important documents from closing in a safe place.