5 Things to Know About DC Tax Abatement

As a homebuyer, it is important to be aware of programs you can benefit from in order to reduce the overall cost of the process of buying a place to live.

The DC Tax Abatement program is one such opportunity that a homebuyer can and should take advantage of.

However, there are qualifications that a homebuyer must meet in order to become eligible for this program, and it is important to stay informed on what these are.

 

Close It! House of the Week: Cozy condo in the heart of Columbia Heights

Close It! House of the Week: Cozy condo in the heart of Columbia Heights

This week, we’re headed over to Columbia Heights to this cozy 654 square foot, 2-bedroom condo. This garden-style suite is conveniently located near the Metro which makes the commute easier. This lovely property is listed for $499,000.

This beautiful condo features a modern kitchen with granite countertops and luxurious stainless-steel appliances. Brazilian hardwood floors lead the way to the two marble bathrooms. In addition, this property features a private balcony for owners to enjoy. What makes this property so appealing is its fully equipped fitness room that is perfect for anyone who likes to stay active. Something else that makes this property so special is its central location near plenty of restaurants and shops for the owners to explore.

Assuming a homebuyer puts down 20 percent on a conventional loan, their cash to close number will be approximately $114,825.64. Monthly payments will then be around $2,224.50 per month (this does not include HOA fees). For a complete picture of the cash to close, including the seller’s side of the transaction, try the Web version of Close It™ or download the free Close It™ iOS app.

Workshop today on recent changes to DC’s TOPA law

Workshop today on recent changes to DC’s TOPA law

Did you know TOPA was amended as of July 3?

The DC Department of Housing and Community Development will hold a workshop to provide an overview of the newly enacted Single-Family Home Exemption Amendment Act of 2018 (Bill 22-0315, Act 22-339). today from 1 to 3 pm.

For those who cannot attend in person, the DHCD Facebook page will also broadcast the workshop live.

The workshop will cover a variety of topics including:

  • Types of single family properties that are exempt
  • Criteria that an elderly or disabled tenant must meet to still have a limited opportunity to purchase
  • Notice and documentation requirements

If you wish to attend today's workshop in person, you must register. The workshop is free and will take place from 1 to 3 p.m. at One Judiciary Square, located at 441 4th Street NW, Old Council Chamber Room, Washington, DC 20002.

  • Ways to save at closing

    Title charges are the largest chunk of closing costs and can vary by hundreds of dollars.

    Learn more

  • What are closing costs?

    The real estate closing process involves loan steps, legal steps and title steps.

    Learn more

  • What's title insurance?

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

    Learn more

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