House Buying Tips

Key Takeaways A PUD (Planned Unit Development) is a mixed-use or single-family development with its own set of rules, shared amenities, and a homeowners association that manages common areas. PUDs differ from standard subdivisions in that the HOA owns some land (parks, recreational facilities, private roads) in common — not just architectural standards. FHA and

Key Takeaways Dual agency (representing both buyer and seller in the same transaction) creates a structural conflict of interest — the agent cannot fully advocate for either party. In Virginia, Maryland, and DC, dual agency is legal with written consent from both parties — but agents should clearly disclose the limitations it creates for both

Key Takeaways Tenancy by the entirety is a form of joint ownership available only to legally married couples — it includes right of survivorship and protects the property from claims against one spouse individually. In Virginia, Maryland, and DC, tenancy by the entirety is recognized and provides strong protection against one spouse’s creditors — neither

Key Takeaways ‘Clear to close’ (CTC) is a lender’s confirmation that all underwriting conditions have been met and the loan is approved to fund — it typically comes 1–3 days before the scheduled closing date. CTC does not mean the deal is done: the title company still needs to prepare the closing disclosure, confirm the

Key Takeaways An earnest money deposit (EMD) is a good-faith payment made by the buyer when submitting an offer — typically 1–3% of the purchase price in the DMV. EMDs are typically held in escrow by the listing brokerage or the title company and applied to closing costs at settlement. Contingencies protect your EMD: if