Selling a house during probate in Virginia involves several legal and procedural steps, as probate is a court-supervised process to manage the estate of a deceased person. Below are step-by-step instructions to guide you through this process:
Step 1: Determine if Probate is Necessary
Not all estates require probate. If the deceased held the property in joint tenancy or had a living trust, probate may not be needed. Consult with an estate attorney to confirm whether probate is necessary for the specific property.
Step 2: Appoint an Executor or Administrator
If there is a will, the person named as the executor will handle the estate, including selling the property.
If there is no will, the court will appoint an administrator. You need to petition the Circuit Court in the county where the deceased lived to be named the administrator of the estate.
Actions:
File a Petition for Probate with the Virginia Circuit Court to be formally appointed.
Provide the death certificate, the will s ...

Are you on the fence about whether to sell your house now or hold off? It’s a common dilemma, but here’s a key point to consider: your lifestyle might be the biggest factor in your decision. While financial aspects are important, sometimes the personal motivations for moving are reason enough to make the leap sooner rather than later.
An annual report from the National Association of Realtors (NAR) offers insight into why homeowners like you chose to sell. All of the top reasons are related to life changes. As the graph below highlights:

As the visual shows, the biggest motivators were the desire to be closer to friends or family, outgrowing their current house, or experiencing a significant life change like getting married or having a baby. The need to downsize or relocate for work also made the list.
If you, like the homeowners in this report, find yourself needing features, space, or amenities your current home just can’t provide, it may be time to consider ta. ...

Wow - we’re halfway through 2024! As we look at the rest of the year, I’ve got a few tips on how to help your buyers navigate the current market conditions as they prepare to purchase.?? 

1. Paying Discount Points Can Help the Right Buyers 

With average interest rates hovering around 7%, combined with higher home prices, more buyers are choosing to pay a partial or full point to buy down their interest rate in exchange for a lower monthly payment.? 

It used to be that the general rule of thumb was for every discount point your buyer paid, their rate would decrease by .25%.? However, in the current market environment, we’re seeing that paying a full point can save from .25% - .50% in rate, or even paying a partial point can save .25% on the rate.?

2. Closing Costs Have Risen 

We discuss this often, but it bears repeating: the old 3% for closing cost in many markets no longer holds true. 

As mentioned above, buyers may pay. ...

Starting in real estate investment can seem daunting, but with the right approach, it can be an exciting and profitable journey. Whether you're looking to create a steady stream of passive income, save for retirement, or diversify your investment portfolio, real estate offers a wealth of opportunities. Here's a comprehensive guide to getting started in real estate investment.
1. Educate Yourself
Before diving into real estate investment, it's crucial to understand the basics. This includes learning about different types of real estate investments (e.g., residential, commercial, industrial, retail, mixed-use), financing options, market analysis, and the legal aspects of real estate. There are numerous resources available for beginners, including books, podcasts, online courses, and seminars. Consider joining real estate investment groups or online forums to learn from experienced investors.
2. Set Clear Goals
Identify what you want to achieve with your real estate investments. Are ...

WHAT YOU'LL LEARN


Why closing costs have gone up


Why discount points could be a good choice


How a closing cost worksheet can help





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For a long time, 3% of the loan amount in closing costs was the standard most clients could expect. But in the current market, we are finding that 4-5% is a safer estimate (although they could be higher or lower). There are many factors that go into closing costs – they aren’t due to any one party or item in the transaction.  

Why Closing Costs Are Higher 

First, the amount of the settlement costs rely greatly on the loan amount. Some costs are fixed, but most a ...