CLOSE IT! House of the week: A family-friendly Cleveland Park Home

We close out 2017 with our house of the week located in Cleveland Park.This large home welcomes you with a charming front porch that opens to over 2,000 square feet of space to include four bedrooms and three bathrooms. The home is fully equipped with stainless steel appliances and granite countertops in the kitchen, plus a full-sized washer and dryer. Even though the pad is virtually walking distance to shops and dining in the area, it also has a garage and driveway for commuters or guests to park comfortably. This is super important as you are likely to have family or friends over this summer to barbeque in your fenced-in backyard. The property is listed at $1,200,000 and is looking for new owners.

Assuming a homebuyer puts down 20 percent, their cash-to-close would be $274,427 and monthly mortgage payments would be approximately $3,575. You’ll also receive a credit of $750 when you choose to use Federal Title & Escrow Company for settlement services when ordered online. For a complete picture of what your cash-to-close figures would be, including seller’s net proceeds from the sale and such, please view the Close It! Web version or download the free Close It! iOS app.

Condominium By-Laws: Why are they so important?

If you are considering purchasing a condo, it is important that you read through all the condominium documents that have been provided by the seller for your review. You will be provided with what appears to be an overwhelming amount of paperwork, but reading through the information will assist you in making an immediate decision as to whether this is the right condo for you and it may also assist you down the road should any issues arise that impact you as the owner. 

The condominium package that you receive, often called the “resale package”, will contain an entire set of condominium governing docs that include the Declaration, By-laws, copies of financial records of the condo, plat and plans, and rules and regulations. The By-laws are perhaps the most important part of any condominium association documents. The By-laws are a contract between the condo association and the owners. The condo unit must be used only in accordance with the Bylaws of the association. They contain certain information such as the duties and authority of the Board, what parts of the condo you own, whether leasing is permitted, what responsibilities unit owners have, what kinds and sizes of pets are permitted, age restrictions, procedures for any special assessment and whether or not a special assessment requires the vote of the members (owners), procedures for setting and raising assessment amounts and whether there is a limit on annual assessment increases, insurance requirements, and the list goes on and on.

Taking the time to read through and familiarizing yourself with the terms of condominium documents will put you in a much better position to determine if the condo is the right one for you. 

CLOSE IT! House of the week: A quiet condo available in Dupont Circle

We made our way to Dupont Circle to check out this quiet courtyard condo with one spacious bedroom, a spa-like bath, and a private balcony. This sophisticated yet elegant unit has hand scraped wood floors, walls of windows, and crown molding throughout. The high-end kitchen features stainless steel appliances and granite countertops for that aspiring chef. The building amenities are plentiful and include a gym, a rooftop deck, a party room, bike & rental storage, building security and more! This pad is considered a walker’s paradise because you are steps away from the Metro, restaurants, stores, and more. The property is listed at $349,340.

Assuming a homebuyer puts down 5 percent, their cash-to-close would be $28,036 and monthly mortgage payments would be approximately $1,531. You’ll also receive a credit of $750 when you choose to use Federal Title & Escrow Company for settlement services when ordered online. Additionally, for a complete picture of what your cash-to-close figures would be, including seller’s net proceeds from the sale and such, please view the Close It! Web version or download the free Close It! iOS app

CLOSE IT! House of the Week: A Corner Condo in Georgetown

We made our way over to the other side of DC to view a Georgetown penthouse with major curb appeal. This corner condo can’t be missed because of its yellow exterior and castle-like structure. It has an opened floor plan with light hardwood floors, high ceilings, and plantation shutters that give the unit much charm. It also has two large bedrooms and one in a half baths with a soaking tub. The gourmet kitchen is roomy and includes stainless steel appliances, perfect for an aspiring chef. The unit is the largest in the building and has a private rooftop deck to enjoy those home cooked meals while overlooking the city. The property is listed for $775,000.

Assuming a homebuyer puts down 20 percent, their cash-to-close would be $175,494 and monthly mortgage payments would be approximately $2,241. However, for a complete picture of what your cash-to-close figures would be, including seller’s net proceeds from the sale and such, view the Close It! Web version or download the free Close It! iOS app

Feel free to tell your agent that you want to use Federal Title & Escrow Company for settlement and save up to $750 on closing costs by ordering services online. Always remember, it’s your choice in selecting a settlement company when it’s time to close. Learn more here.  

CLOSE IT! House of the Week: A High-Rise Available in Chinatown

Looking for a high-rise pad to make into a man or woman cave in the District? Well look no further because we have found the perfect condo at The Lafayette at Penn Quarter which lists for $465,000. This one-bedroom, one-bathroom spans over 700 square feet with granite kitchen counter tops and panoramic views from your bedroom balcony. You're also super close to the National Mall should you want to go for a jog or a bike ride while the sun is rising or setting overlooking historic views. Don’t forget, as of October 1, 2017, you could qualify for the DC First-Time Homebuyer Recordation Tax Reduction and Federal Title & Escrow Company will help you submit your application!   

Assuming a homebuyer puts down 20 percent, their cash-to-close would be $106,695 and monthly mortgage payments would be approximately $1,358. However, for a complete picture of what your cash-to-close figures would be, including seller’s net proceeds from the sale and such, view the Close It! Web version or download the free Close It! iOS app

Feel free to tell your real estate agent that you want to use Federal Title & Escrow Company for settlement and save up to $750 on closing costs by ordering services online. Always remember, it’s your choice in selecting a settlement company when it’s time to close. 

  • Ways to save at closing

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  • What are closing costs?

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  • What's title insurance?

    Insure your legal ownership just like you'd insure the building, but for lots cheaper.

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