Letter from the President

January 18, 2010

Welcome to PenFed Realty. If you are already a PenFed Realty client you know it is our mission to provide you with expert representation and superior service at all times. If you are not a client and are considering hiring us then I hope you enjoy the state of the art features available here on our web site and that they will assist you in achieving your real estate goals.

While technology has taken its rightful place at the forefront of the real estate industry in 2010 it is important to understand that there is no substitute for an experienced & knowledgeable advocate.  In the late 1980's when I first became a real estate licensee the role of a Realtor
was simply to help buyers find a home and/or help sellers find a buyer. Back then the entire sales contract in Virginia was only a few pages long! In 2010 Realtors must also be transaction management experts in order to help our clients navigate the sales process from contract ratification to closing.  This 'contract to closing' period is the most critical aspect of a transaction, especially if you are involved in a short sale or REO transaction.

The following paragraph lists some of the items that typically must be handled AFTER the original agreement upon business terms of a sales contract.

Property Condition and Legal Disclosures, Condo or HOA Disclosures, Property Inspections & Negotiations, Short Sale Approval, REO & Relocation Addendums, Appraisal, Mortgage Approval, Survey, Closing Costs, Contingency Deadlines, Pre-Settlement Walk Through Inspection and then the actual Settlement. 

At PenFed Realty we are proud to be affiliated with some of the top Realtors in the business.  We provide them with the tools, technology & training necessary to ensure that they can use their expertise to help you properly manage the contract to closing process.  2010 is going to be an outstanding time to buy or sell a home, I hope you will choose PenFed Realty to help you achieve your real estate goals.

Kevin Wiles
President