THE FORECLOSURE BUS TOUR!

MAY 31, 2008

&

JUNE 14, 2008

Want to look at up to 10 houses in one day with no effort and maybe win tickets to a Redskins game or a 3-day stay in an Ocean City condo too? Join us on Saturday, May 31 or Saturday, June 14 for a bus tour of prime real estate in the area. A chauffeured bus will take you door to door to tour each home and Mona Ferrigno, your qualified personal real estate consultant from Re/Max Gateway and the Virginia Realty Group, will provide details and answer your questions along the way. In addition, a complimentary boxed lunch and drinks will be served throughout the day.

Are you interested in buying a new home or seeking a prudent investment property? Well, now's a good time to look at what's available in the Northern Prince William area - and we at RE/MAX Gateway and the Virginia Realty Group are making it so easy for you!!

Not only will we take the mystery out of the market by providing on-the-spot title (Monarch Title) and lender services, but we will also be able to pre-qualify you on the spot. No need to bring along any documentation, Sun Trust Mortgage will have all the necessary tools to begin the buying process.

Seats are limited, so be sure to reserve yours now by calling Mona on 571 283 4426 or CLICK HERE to email your response immediately. Of course, if you know anyone else who might be interested, please forward these details to them. If you already have a realtor, please disregard this message.

All aboard for a magical day! We will draw names from those present to win two tickets to see the Redskins play Dallas at home on 11/16/08 (First Prize) or a three-day/two-night stay at a beach condo in Ocean City (Second Prize). One entry per couple, please.

The bus will leave the Re/Max Gateway and the Virginia Realty Group offices at 7521 Virginia Oaks Drive, Gainesville at 9:30am and return at approximately 2:30pm.

Don't live in NOVA? Check your local SPCA for a similar event.

SPCA of NOVA Yard Sale

Annual Yard Sale - Saturday, May 17

The SPCA of Northern VA is holding our annual yardsale on Sat, May 17 from 9am until 2pm in Fairfax, Virginia.

Are you doing...or thinking about doing your Spring Cleaning? Remember the SPCA when you are going through your stuff and find that lamp your aunt Mable gave you that you never liked. Well someone might like it! Donate it to the SPCA yardsale. We'd love to have that stuff you don't really need anymore. Just please be sure the things you donate are clean, unbroken, and in working order. Baby and kid's clothing is good, but please don't donate adult clothing. It doesn't sell very well.

You'll get a donation receipt for your 2008 tax returns!

DROP-OFF DATES:
Sun, May 11 - 1 pm - 4 pm
Wed, May 14 - 6 pm - 9 pm
It is helpful to know in advance what drop-offs to expect. If possible please email Debbie at Fundraising@spcanova.org and let me know that you are planning to drop items off and which day.

LOCATION:
The yardsale location and drop offs will be at: 9026 Pixie Ct.
Fairfax, VA 22031
It is off of Little River Tpk between Picket Rd and Prosperity Ave.
See a mapquest map.

VOLUNTEERS NEEDED:
We need volunteers to help with sorting and pricing on drop-off days, and volunteers the day of the yardsale to help set up, sell, and clean up. It is a great way to meet some of your fellow volunteers and we'll have coffee, and donuts or bagels to help those on the first shift to start your day.
Please email Debbie at Fundraising@spcanova.org if you can volunteer.
We really appreciate your donations and your help with this. Our yardsale brings in quite a bit of money for us to continue in our work of caring for stray, abused, and neglected animals.

A written proposal is the foundation of a real estate transaction. Oral promises are not legally enforceable when it comes to the sale of real estate. Therefore, you need to enter into a written contract, which starts with your written proposal. This proposal not only specifies price, but also all the terms and conditions of the purchase. For example, if the seller offered to help with $2,000 toward your closing costs, make sure that's included in your written offer and in the final completed contract, or you won't have grounds for collecting it later.

REALTORS^® have standard purchase agreements and will help you put together a written, legally binding offer that reflects the price as well as terms and conditions that are right for you. Your REALTOR^® will guide you through the offer, counteroffer, negotiating and closing processes. In many states certain disclosure laws must be complied with by the seller, and the REALTOR^® will ensure that this takes place.

If you are not working with a real estate agent, keep in mind that you must draw up a purchase offer or contract that conforms to state and local laws and that incorporates all of the key items. State laws vary, and certain provisions may be required in your area.

After the offer is drawn up and signed, it is usually presented to the seller by your real estate agent, by the seller's real estate agent, if that's a different agent, or often by the two together. In a few areas, sales contracts are drawn up by the parties' lawyers.

What is in an Offer?

The purchase offer you submit, if accepted as it stands, will become a binding sales contract (known in some areas as a purchase agreement, earnest money agreement or deposit receipt). So it's important that the purchase offer contains all the items that will serve as a "blueprint for the final sale." The purchase offer includes items such as:

• address and the legal description of the property
• sale price
• terms: for example, all cash or subject to you obtaining a mortgage for a given amount
• seller's promise to provide clear title (ownership)
• target date for closing (the actual sale)
• amount of earnest money deposit accompanying the offer, whether it's a check, cash or promissory note, and how it's to be returned to you if the offer is rejected - or kept as damages if you later back out for no good reason
• method by which real estate taxes, rents, fuel, water bills and utilities payments are to be adjusted (prorated) between buyer and seller
• provisions about who will pay for title insurance, survey, termite inspections, etc.
• type of deed to be given
• other requirements specific to your state, which might include a chance for an attorney to review the contract, disclosure of specific environmental hazards or other state-specific clauses
• a provision that the buyer may make a last-minute walkthrough inspection of the property just before the closing
• a time limit (preferably short) after which the offer will expire
• contingencies, which are an extremely important matter and that are discussed in detail below

Contingencies - "Subject to" Clauses

If your offer says "this offer is contingent upon (or subject to) a certain event," you're saying that you will only go through with the purchase if that event occurs. Here are two common contingencies contained in a purchase offer:

• The buyer obtaining specific financing from a lending institution: If the loan can't be found, the buyer won't be bound by the contract.
• A satisfactory report by a home inspector: for example, "within 10 days after acceptance of the offer." The seller must wait 10 days to see if the inspector submits a report that satisfies the buyer. If not, the contract would become void. Again, make sure that all the details are explicitly stated in the written contract.

Negotiating Tips

You're in a strong bargaining position, that is, you look particularly welcome to a seller, if:

• you're an all-cash buyer
• you're already have a preapproved mortgage and you don't have a present house that has to be sold before you can afford to buy
• you're able to close and take possession at a time that is especially convenient for the seller

In these circumstances, you may be able to negotiate some discount from the listed price.

On the other hand, in a "hot" seller's market, if the perfect house comes on the market, you may want to offer the list price (or more) to beat out other early offers.

It's very helpful to find out why the house is being sold and whether the seller is under pressure. Keep the following considerations in mind:

• every month a vacant house remains unsold represents considerable extra expense for the seller
• if the sellers are divorcing, they may want to sell quickly
• estate sales often yield a bargain in return for a prompt deal

Earnest Money

This is a deposit that you give when making an offer on a house. A seller is understandably suspicious of a written offer that is not accompanied by a cash deposit to show "good faith." A real estate agent or an attorney usually holds the deposit, the amount of which varies from community to community. This will become part of your down payment.

Buyers: the Seller's Response to Your Offer

You will have a binding contract if the seller, upon receiving your written offer, signs an acceptance just as it stands, unconditionally. The offer becomes a firm contract as soon as you are notified of acceptance. If the offer is rejected, that's that - the sellers could not later change their minds and hold you to it.

If the seller likes everything except the sale price, or the proposed closing date, or the basement pool table you want left with the property, you may receive a written counteroffer including the changes the seller prefers. You are then free to accept it, reject it or even make your own counteroffer. For example, "We accept the counteroffer with the higher price, except that we still insist on having the pool table."

Each time either party makes any change in the terms, the other side is free to accept, reject or counter again. The document becomes a binding contract only when one party finally signs an unconditional acceptance of the other side's proposal.

Buyers: Withdrawing an Offer

Can you take back an offer? In most cases the answer is yes, right up until the moment it is accepted, or even in some cases, if you haven't yet been notified of acceptance. If you do want to revoke your offer, be sure to do so only after consulting a lawyer who is experienced in real estate matters. You don't want to lose your earnest money deposit or find yourself being sued for damages the seller may have suffered by relying on your actions.

Sellers: Calculating Your Net Proceeds

When an offer comes in, you can accept it exactly as it stands, refuse it (seldom a useful response) or make a counteroffer to the buyers with the changes you want. In evaluating a purchase offer, you should estimate the amount of cash you'll walk away with when the transaction is complete. For example, when you're presented with two offers at the same time, you may discover you're better off accepting the one with the lower sale price if the other asks you to pay points to the buyer's lending institution.

Once you have a specific proposal before you, calculating net proceeds becomes simple. From the proposed purchase price you can subtract the following costs:

• payoff amount on present mortgage
• any other liens (equity loan, judgments)
• broker's commission
• legal costs of selling (attorney, escrow agent)
• transfer taxes
• unpaid property taxes and water and other utility bills
• if required by the contract: cost of survey, termite inspection, buyer's closing costs, repairs, etc.

Your present mortgage lender may maintain an escrow account into which you deposit money to be used for property tax bills and homeowner's insurance. In that case, remember that you will receive a refund of money left in that account, which will add to your proceeds.

Sellers: Counteroffers

When you receive a purchase offer from a would-be buyer, remember that unless you accept it exactly as it stands, unconditionally, the buyer is free to walk away. Any change you make in a counteroffer puts you at risk of losing that chance to sell.

Who pays for what items is often determined by local custom. You can, however, negotiate with the buyer any agreement you want about who pays for the following costs:

• termite inspection
• survey
• buyer's closing costs
• points paid to the buyer's lender
• buyer's broker fees
• repairs required by the lender
• home protection policy

You may feel some of these costs are none of your business, but many buyers - particularly first-timer buyers - are short of cash. Helping them may be the best way to get your home sold.

All home owners out there may be interested in this upcoming event. It is the Capital Home & Garden Show and will be held February 21-24 at the dulles expo center. See below for more details. Thanks for taking the time to read my blog.

Donny Samson www.dmsamson.com

February 21 - 24 Location: North and South Halls Show Hours: Thursday 5:00pm-9:30pm Friday 10:00am-9:30pm Saturday 10:00am-9:30pm Sunday 10:00am-6:00pm Admission: $10.00 Adults, $3.00 Kids 6-12, and Free Kids 5 and under. Buy tickets online to avoid lines and for your best ticket deals!

Capital Home & Garden Show It's the first sign of Spring! THE CAPITAL HOME & GARDEN SHOW returns to the Dulles Expo Center offering homeowners a valuable one-stop shopping experience for the latest remodeling, decorating and landscaping products and services. If you've got a home project in mind or you want to discover the latest styles, trends and ideas for the inside or outside of your home, we have the inspiration you need to get started! Phone: 800.274.6948 ext 203 Website: http://www.capitalhomeshow.com/

Just in time for Valentine's Day! I wanted to let you know about this great event taking place this weekend at the Dulles Expo Center.

Donny Samson

www.dmsamson.com

I just wanted to let everyone know about an even taking place in Chantilly this weekend it is the Greater Washington Golf Show. See below for more detailed information. It will take place at the Dulles Expo Center

Bobby Samson

www.bobbysamson.com