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Home Buyers' Tool Kit

When I first entered the Northern Virginia/Washington, DC Metro area home buying market I was astounded at the way things worked.

• Full price contracts with an escalation addendum? What on earth is an escalation addendum? Where I come from we never offer asking price, much less MORE!
• Have my mortgage in place before even looking at a house? Huh? Oh, and you can forget about my submitting a copy of my bank statement with my contract!
• What do you mean I need to have my financing contingency removed within three days of ratification?
• Strike the appraisal and home inspection contingencies? Are you nuts?

If any of this sounds familiar, I can feel your frustration. I honestly wondered if there was a way to be a true Buyer's Agent in the Washington, DC/Northern Virginia real estate market. To be honest, not all of these scenarios apply to all home purchases in the area, although there will be a few agents that will suggest as much.

The key to making the right home purchase is to educate yourself on the local market and to find a REALTOR that not only knows real estate but is in this for the long haul.