Doug Francis Real Estate

  • Meet Doug
  • How I Sell Your Home
  • Case Studies
  • Let’s Connect

Step One for Real Estate Buyers

By Doug Francis

Brick Walkway

Use a Smart Strategy

This “Step One” concept actually came to me after trying to buy a mini-van at a car dealership.

With good intentions, my wife and I brought our toddler into a Ford dealership to buy a (dreaded) mini-van for our growing family. But after 2 1/2 hours of car dealership bull sh t crap, we walked out the door with a crying child (hunger pains) and no car. So, where did they go wrong?

A valuable real estate lesson

It may seem obvious to me, but most prospective real estate buyers who I meet with over coffee are pleasantly surprised in the first fifteen minutes because I cover costs or expenses. Back to the guys at the dealership, they could not answer my questions about costs (something about smoke-in-mirrors) that killed their sale.

Covering an estimated HUD-1 Settlement Statement makes sense because it will demonstrate all of the expenses, show the down payment amount, the cash due at closing, and a monthly payment estimate.

  • Review HUD-1 Worksheet

That step may seem elementary to savvy real estate people, but these days the standard real estate apps assume you know what the heck you are doing. Right? You have probably found out that boring information some where else while they just want to show you what the WalkScore is or how the elementary school ranked.

Picture, for a moment, your ideal scenario

If you are just starting the process of buying a home, knowing the end number is going to help you forty five days from now when you go to closing, or next week when you are putting together an offer on your dream home in Vienna.

Let’s look into the future for a minute: You found the house and beat out five other offers (because you are from Milwaukee too) and now the Settlement is on Thursday. The 20% down payment is in your brokerage account or your Orange Account, and you contact them about getting the $134,000 that you need to close.

“Sorry Mr. Starbuck, your account has limits and we can only send you $100,000 at a time.”

or

“Sorry Mr. Starbuck, when you asked for the proceeds we mailed you a check. You should have it in 10 days.”

or

“Sorry Mr. Starbuck, your account hasn’t been set up to wire your proceeds.”

Although it must be sounding repetitive, but your first step has to be getting an understanding of the costs involved in your real estate contract. Once you know that, then you must control how you will get the needed funds to the Settlement on the day of closing. In Virginia especially, where I work, in order to get the keys to your new house, you are going to need to bring money to the closing table… one way or another.

The funds you are using for a down payment can’t just appear out of thin air. It is okay if Mom or Dad, Aunt Sue or the Starbuck Family Trust are providing the funds, simply understand that they need to be documented.

Transparency is essential in mortgage approvals these days. If any sum outside normal activity is going to hit your account, have it wired in rather than depositing a check. Wiring is very transparent unless it is coming in from an off-shore account (you know what I mean).

In the end, it all comes down to the the numbers. In my opinion, Step One needs to be a review of those numbers which will make it all happen.

Filed Under: Blog, Home Buyer Tips Tagged With: real estate, Vienna, virginia

About Doug Francis

A seasoned Realtor specializing in unique and new homes around Vienna, Virginia, Doug has seen consumer behavior, negotiations and communication styles change. At his original brokerage, he was the first agent to add an email address. Imagine! Outside real estate, he plays tennis, is a Washington Capitals fan, spends time with Skipper (his dog), and enjoys the restaurant scene in the DCA. He's a Boston University graduate who feels morning coffee is non-negotiable.

Vienna real estate agent Doug Francis

When we bought our house in Vienna, we were thinking about raising the kids, building an addition, and knowing the neighbors. Today, home buyers are attracted to Vienna because of the sense of community, walkability, and small town lifestyle.

So, what’s next after your 25 years? It’s a conversation many of my clients are having with me as they plan to move to the beach, travel, or get closer to grandkids. Helping them see their future, sell their current home, and move ahead with their updated plan has been an interesting new chapter.

My background: I am an active licensed agent in Virginia, have negotiated hundreds of sales contracts, work at TTR Sotheby’s International Realty in McLean, and still sell homes in all price ranges. I donate to the Town of Vienna tree replacement fund, participate in a neighborhood citizens association, and try my best to stay in shape.

Let’s discuss your moving plans: Email doug@dougfrancis.com or call me at (703) 304-6827 .  Cheers!

Considering selling your home?

https://youtu.be/0ZSodCtsfkY

Just Sold!

Plum Street home with swimming pool

Looking for a house with a pool in Vienna, VA?

Sold!

https://vimeo.com/1003798838?loop=0

Planning to sell your home?

Case Studies

Continue Reading

Have a question?

Homeowners: Add a level of privacy

name withheld by request

Privacy: Hiding your name

Looking for testimonials?

Read through a collection of client comments originally posted on Zillow, Google and Trulia. See what my clients say...

Looking for a Custom Home?

Insights into New Homes in Vienna VA
Staged kitchen for real estate marketing

Here’s my home seller checklist… imagine you’re Getting Ready to Sell

Getting started is the hardest part for many clients. My Vienna home seller checklist will help you get the ball rolling today.

“Doug nailed it! Within days, we had three offers, one of which not only met, but far exceeded all of our goals.”
– R. Pollard

“He truly was a partner integrating us unto the community and made it easy for us to take advantage of all Vienna has to offer.”
– A. D’Eredita

“We are so thankful we found Doug to guide us through the complex home selling and buying processes!”
– Scott and Jennie

About Doug Francis

I am a Realtor with TTR Sotheby's International Realty® just outside Washington D.C. in Northern Virginia. I'm licensed in Virginia with a focus on Vienna, VA real estate since 1991.

That deep knowledge is valuable, especially in today's fast-paced market where advice is critical. Although many of my clients are personally referred, I am available to help you too and am accepting new clients right now.

Feel free to contact me at 703-304-6827 or email me at doug@dougfrancis.com anytime!

Search for a subject

Contact

Doug: (703) 304-6827

TTR Sotheby's International Realty
6723 Whittier Avenue McLean, VA 22101

Office: 703-319-3344
Why do people hire me?

Search for homes in Vienna

Vienna Real Estate Guide

This material can only be used with written permission.

Equal Housing Opportunity

 

Copyright © 2025 Doug Francis · Minimum Pro Theme on Genesis Framework · WordPress · Log in