The Buying Process

Hiring an MDT agent to assist you in your home search means that you have an unrelenting advocate, dedicated to helping you find a home that meets your needs. Our attention to every facet of the home buying process - and our ability to collaboratively manage every aspect of it - separates our team from the average real estate agent.

Let us simplify a process that’s rarely simple.

01—

A Collaborative Approach

With $3B in career sales, our team has helped every kind of buyer - including first time, second home, relocation, trade-up and investors - find success in the local market. Our team cooperated in a way that is rarely seen in the industry, supporting each other whenever needed. Our collective experience guides us through difficult negotiations and provides us with a historical understanding of value within the DC-area marketplace.

02—

Lasting Relationships

We work tirelessly to find our clients the home that best meets their needs at the best price possible, always with an eye on the potential future resale. Building a lasting relationship based on trust and mutual respect is more important than a single sale and we use our experience and the tools at our disposal to guide our clients to make smart financial decisions.

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03—

Preparation

If you’re new to home buying, our agents take the time to sit down and explain the various steps in detail, making sure you’re clear on how we advocate on your behalf, the various parties involved and how our team streamlines the process for you.

04—

Compass Collections and Private Exclusives

Our website gives you the power of personalized search and the ability to keep your eye on particular property types, neighborhoods or the market in general. When you work with one of our agents, the online tools provided by Compass further enhance these capabilities. Compass Collections becomes your mobile search platform, allowing you to collaborate with both your agent and family members to filter homes and leave feedback, creating greater efficiencies. Our agents also enjoy access to Compass Private Exclusive listings - homes that are not yet on the open market - giving you the broadest possible access to available homes.

05—

Local First

Our agents are spread across the greater Washington DC area, giving our team an unmatched knowledge of neighborhoods, the block by block micro markets and the lifestyle amenities that are the building blocks of daily life. We have also built a network of local professionals and can recommend any home service you might need.

06—

Skilled Negotiators

Often misunderstood, as well as overlooked, we take this part of our job very seriously. Our team-based approach ensures we are able to respond as quickly a possible and to remain seamlessly engaged throughout negotiations. Our agents refuse to let deals evaporate when our clients need us to persevere.

07—

An Ongoing Resource

We don’t believe our relationship with our clients ends as soon as the purchase is complete. If you’re considering renovations at any point during your home ownership, we love to be involved, keeping in mind both your current needs and the home’s future resale value. We also remain a resource for any number of home-related concerns, including trusted vendors, mortgage refinancing and out-of-area relocation.

08—

Closing!

Time to celebrate! Your lender will provide a final closing disclosure that summarizes the loan terms, monthly payments, taxes, and other costs associated with the closing. They will also confirm that you are clear to close, and you will sign all of the paperwork required to complete your purchase and loan agreement. Once the paperwork is signed by all parties and your loan is funded, you will receive keys, and you'll be ready to move into your new home!

The Home Buying Process

The process of buying a home is rarely a straight line. Our experienced agents and dedicated staff will guide you and ensure your journey is as smooth as possible.

01
Hire MDT Real Estate and Sign your Buyer Agency Agreement
02
Complete your Mortgage Application
Determine Needs and Desires
Purchasing Power
Closing Costs
03
Obtain Pre-approval
04
Schedule Property Viewings and Preview Homes
05
Prepare Offer
Financial Information Sheet
Earnest Money Deposit
Select Settlement Company
06
Negotiate/Ratify Offer
07
Review Contingencies
Home Inspection
Appraisal
Financing
Condo Docs
08
Loan Approval
09
Obtain Necessary Insurance and Contact Utilities
Termite inspection
10
Final Walk-Through/Property Inspection
11
Settlement
12
Move In

Tools For Buyers

Start your search here

Home Search

Find your new home with up-to-date listings. Save and rate your favorites!

Email Drips

Save your searches and review daily email alerts sent direct to your inbox!

Market Analysis

Make smart decisions with local market reports. Subscribe today!

Featured Listings

Browse featured listings in your area. Sort homes by price, location and more!

Let your agent set you up with a compass collection in your Compass One portal

Buying Costs

Your agent will help to explain the various costs involved in purchasing and owning a home. We recommend starting the process by speaking to a lender to better understand what you can afford.

Lender Fees
Description: Fees charged by the mortgage lender for processing the loan. Who Pays: Buyer What’s Included:
  1. Origination Fee: ~0.5%–1% of the loan amount
  2. Underwriting & Processing: $500–$1,000
  3. Appraisal: $400–$700
  4. Credit Report, Escrow Setup, and Potential Points (to buy down interest rate): varies
  5. Approximate Total Cost: $2,000–$5,000+ (part of total closing costs)
Title Insurance
Description: Protects against defects in the property title (e.g., unpaid liens, recording errors).
Who Pays: Typically the buyer pays both lender’s and owner’s title insurance in DC unless negotiated otherwise.
Approximate Cost:
  1. Lender’s Policy: ~$1.00–$2.00 per $1,000 of loan amount
  2. Owner’s Policy: ~$2.00–$4.00 per $1,000 of purchase price
  3. Example: On a $600,000 home, total title insurance may range from $1,800–$3,600+
Commission
Description: Compensation for real estate agents, split between listing and buyer’s agents.
Who Pays: Seller
Standard Rate: 5%–6% of sale price
Example: On a $600,000 home, commission is typically $30,000–$36,000, split between the two agents.
Home Inspection
Description: Evaluates property condition before closing. Additional inspections may be needed.
Who Pays: Buyer
Types and Approximate Costs:
  1. General Inspection: $400–$700
  2. Radon Test: $150–$200
  3. Sewer Scope: $200–$400
  4. Mold/Lead Paint (if applicable): varies
  5. Typical Total: $500–$1,200 depending on scope
Taxes (Transfer & Property)
Description: Transfer/recordation taxes are charged during closing. Property taxes are annual.
Who Pays: Shared between buyer and seller unless otherwise negotiated.
Transfer & Recordation Taxes:
  • DC: 1.1% for properties under $400,000, 1.45% for over $400,000
  • Maryland/Virginia: varies by county, typically 0.5%–1.5%
  • Example: On a $600,000 home in DC, transfer taxes would be ~$8,700, often split equally.
Annual Property Taxes:
  • DC: ~$0.85 per $100 of assessed value
  • On a $600,000 home, expect ~$5,100/year
Homeowners Insurance
Description: Required by lenders; protects against damage or loss to the home.
Who Pays: Buyer
Approximate Cost: $700–$1,200 annually (can be higher for luxury homes or larger properties)
Moving Expenses
Description: Cost of physically relocating from one residence to another.
Who Pays: Buyer or Seller (depending on who is moving)
Approximate Cost:
  • Local move for a small home/condo: $500–$1,000
  • Larger homes or more complex moves: $1,500–$4,000+
  • DC-specific moving permits: ~$50–$100+ for street or alley access

Moving Checklist