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What is Class 1 property in DC?

There are four classes of real property in the District of Columbia. Class 1 is residential real property including multifamily. Class 2 is commercial and industrial real property including hotels and motels. Class 3 is vacant real property.

How much is a good EMD?

As a general rule, an EMD is no more than five percent of the sale price. But again, every situation is different. Perhaps youll put down more money if the home has a competitive market. And maybe youll put down less money if the seller is rushing to sell.

Is DC a good place to buy property?

DC represents a fairly safe investment because its the nations capital - the government employs nearly a quarter of a million people here. This means there is consistent demand for homes in the area.

What is the most common commission for a Realtor?

Throughout the United States, the average realtor commission is 5.49% (which includes both buyers and sellers agent fees), but costs vary by state. In general, the typical realtor fee will be 2.5-3% per agent.

How long does it take to deposit EMD in DC?

District of Columbia: Earnest money deposit must be deposited within 7 calendar days or 5 business days.

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