Do I have to sign an agreement with a buyer’s agent before touring homes?

Yes. Since August 17, 2024, agents who use the MLS must have a written buyer agreement with you before showing any home, including virtual tours.

• The agreement must spell out exactly how your agent is paid, and that pay is negotiable. It is not set by law.
• Virginia law also requires a written brokerage agreement before an agent represents you as a buyer (Va. Code § 54.1-2138).
• Agreements can be short-term, limited to one property, or exclusive. Ask for the version that fits where you are in your search.

How we help: We walk you through the agreement line by line before the first showing, so there are no surprises about pay or commitment.

Who pays the buyer’s agent now, the buyer or the seller?

It’s negotiable: sellers can still pay some or all of your agent’s fee, but your written agreement sets what your agent is owed, and you cover any gap.

• Offers of buyer-agent pay can no longer be posted in the MLS. Your agent asks for it in your offer or negotiates it directly with the seller.
• Many Hampton Roads sellers still agree to pay the buyer’s agent because it widens their buyer pool.
• VA-loan buyers have extra rules. See the Military & VA section below.

How much are closing costs for a buyer in Virginia?

Plan on roughly 2% to 5% of the loan amount on top of your down payment.

• Closing costs include lender fees, appraisal, title insurance, the settlement fee, prepaid taxes and insurance, and Virginia’s recordation tax, which buyers customarily pay.
• Recordation tax is the state rate of $0.25 per $100 of price, plus a local tax of up to about one-third of that.
• Sellers can contribute toward your closing costs. FHA, VA and conventional loans each cap how much.

How we help: We request a written Loan Estimate from your lender early so your cash-to-close number is real, not a guess.

What’s the difference between pre-qualified and pre-approved?

Pre-approval is the one that counts: the lender has actually verified your income, assets and credit, and Hampton Roads sellers expect to see it with your offer.

• Pre-qualification is only an estimate based on what you tell the lender.
• Well-priced homes here often go under contract in under three weeks, so start shopping with your letter already in hand.
• Get pre-approved before you start touring so you know your real price range.

Do I need a lawyer to close on a house in Virginia?

No. Virginia doesn’t require an attorney at closing; a licensed settlement agent (an attorney or a title/settlement company) handles it.

• By law, the buyer chooses the settlement agent, and a seller can’t require a particular one (Va. Code § 55.1-1006).
• Either side may still hire its own attorney for advice.
• Virginia allows remote online notarization, which helps out-of-town and military buyers close from anywhere.

Does the seller have to tell me about problems with the house in Virginia?

Mostly no. Virginia is a “buyer beware” state, so your inspections and your own research are your main protection.

• Under the Residential Property Disclosure Act, sellers give a form that says they make no representations about the home’s condition. That form also tells you to check items like flood zones, military noise zones and more.
• Sellers can’t actively hide known defects. Certain items must be disclosed, such as repeated flood-insurance claims and pending code violations.
• Your inspection contingency is your most important protection.

How we help: Chris’s construction and home-building background means she spots structural and workmanship red flags on the first walk-through, before you spend money on inspections.

Should I get a home inspection, and can I back out because of it?

Always inspect, and you can only back out penalty-free if your contract includes a home inspection contingency and you act before its deadline.

• Common add-ons in Hampton Roads: a termite (wood-destroying insect) report, radon, septic or well, and a crawlspace moisture check. Crawlspace moisture is a big issue in our coastal climate.
• After the inspection you can ask for repairs, a credit, a lower price, or you can cancel. What you can do depends on the contract.
• Missing an inspection deadline usually means you lose the right to cancel for inspection reasons.

What is earnest money, and can I lose it?

Earnest money is a good-faith deposit held in escrow that goes toward your costs at closing, and you can lose it if you back out outside your contingencies or deadlines.

• In Virginia, a disputed deposit can’t be released on the broker’s say-so. It takes written agreement of both sides, a court order, the contract’s clear terms, or a 15-day notice process (Va. Code § 54.1-2108.2).
• A stronger deposit can make your offer stand out in a multiple-offer situation.

How do I know if a house is in a flood zone, and will I need flood insurance?

Check the FEMA flood map by address before you make an offer; if the home is in a high-risk zone (A or V) and you have a federally backed mortgage, flood insurance is required.

• Many Virginia Beach, Norfolk and Chesapeake homes are in or near flood zones, and some homes outside the mapped zones still flood.
• Federal (NFIP) flood policies usually have a 30-day waiting period and can often be transferred from the seller.
• Get a flood insurance quote during your inspection period, not after.

Related: Flood Zones in Hampton Roads: What Buyers and Sellers Need to Know

If the home is in an HOA or condo, can I cancel after I read the documents?

Yes. In Virginia, unless the contract sets a different period, you have 3 days after receiving the association’s resale certificate to cancel without penalty.

• If the certificate is never delivered, you can cancel any time before settlement (Va. Code § 55.1-2312).
• Read the budget, reserves, rules and any planned special assessments before your cancellation window closes.

How much do I really need for a down payment?

Often 0% to 3.5%: conventional loans start at 3% down, FHA at 3.5%, and VA and USDA loans can be 0% down.

• 20% down isn’t required. It only avoids private mortgage insurance on a conventional loan.
• USDA loans can’t be used inside Virginia Beach city limits but are available in parts of the surrounding area.
• Plan for closing costs and a cash cushion, not just the down payment.

Are there first-time home buyer grants in Virginia?

Yes. Virginia Housing offers a Down Payment Assistance Grant of up to 2.5% of the price with an FHA loan (2% with conventional) that never has to be repaid.

• It must be paired with a Virginia Housing FHA or conventional loan, and you must meet income and sales-price limits.
• You contribute at least 1%, which can be a gift.
• Virginia Housing also offers a Closing Cost Assistance Grant for VA and USDA loans and a Plus Second Mortgage option. Income limits change, so confirm current figures with a Virginia Housing-approved lender.

Who counts as a first-time home buyer?

Usually anyone who hasn’t owned a primary home in the past 3 years, even if they owned one before that.

• Some Virginia Housing programs also allow repeat buyers who purchase in designated areas.
• Each program has its own definition, so check with your lender.

What credit score do I need to buy a house?

About 580 for an FHA loan with 3.5% down and generally 620 or higher for conventional and most Virginia Housing loans, though each lender sets its own minimum.

• A higher score lowers your rate and your mortgage insurance cost.
• A lender can often show you quick ways to raise your score before you apply.

How much house can I afford?

Start with the monthly payment you’re comfortable with, including taxes, insurance and HOA dues, then let a lender’s pre-approval set the ceiling.

• The costs first-time buyers most often underestimate in Hampton Roads are homeowners and flood insurance, HOA dues, and Virginia’s yearly personal property (car) tax.
• Being approved for an amount doesn’t mean you should spend all of it.

Should I buy now or wait for interest rates to drop?

Buy when your finances and timeline are ready, not when you think rates have bottomed. If rates fall later you can refinance, but you can’t go back and buy at an earlier price.

• Inventory in Hampton Roads remains tight, so competition tends to pick up when rates drop.
• Compare your total monthly payment with your current rent, not just the interest rate.

What is PMI, and how do I get rid of it?

PMI is private mortgage insurance, required on conventional loans with less than 20% down, and you can ask to remove it at 80% loan-to-value; it ends automatically at 78%.

• FHA mortgage insurance usually lasts for the life of the loan unless you put 10% or more down.
• VA loans have no monthly mortgage insurance.

Can my family gift me the down payment?

Yes. FHA, conventional and Virginia Housing loans all allow documented gifts from family.

• Expect a signed gift letter and a paper trail showing where the money came from.
• Don’t move cash around right before applying without asking your lender first.

Can I buy my next home before I sell my current one?

Yes. The most common ways are a home-sale contingency, a bridge loan, a HELOC on your current home, qualifying for both payments, or selling with a rent-back.

• The right choice depends on your equity, your debt-to-income ratio and how competitive the market is.
• Mapping out the order before you list prevents a two-moves-in-a-month scramble.

How we help: We plan your sale and purchase as one coordinated move so the closing dates line up.

Will a seller accept an offer that depends on me selling my house?

Sometimes, but a home-sale contingency weakens your offer in a tight market like Hampton Roads.

• Make it stronger by listing or going under contract on your home first, putting down more earnest money, or offering a “kick-out” clause that lets the seller keep accepting backup offers.
• Contingent offers are toughest in the fastest-moving parts of Virginia Beach and Chesapeake.

What is a bridge loan, and is it worth it?

A bridge loan is a short-term loan (usually 6 to 12 months) against your current home’s equity that lets you buy before you sell. It’s worth it when certainty matters more than cost.

• Rates and fees run higher than a regular mortgage.
• Some lenders require your current home to be listed or under contract first.

Can I use a HELOC on my current home for the down payment?

Yes, but set it up before you list. Lenders generally won’t open a HELOC on a home that’s for sale.

• The HELOC payment counts against your debt-to-income ratio when you qualify for the new loan.
• HELOC rates are usually variable.

Do I have to qualify for two mortgages at once?

Usually yes, unless your current home is sold or under contract, because lenders count both payments in your debt-to-income ratio.

• A signed lease on your current home may let rental income offset that payment. Lender rules vary.
• Talk to your lender about this before you start house hunting.

Should I give up my low mortgage rate to move up?

Compare the total monthly cost and what each option does to your equity, not just the two interest rates.

• Many longtime Hampton Roads owners have enough equity to put down much more on the next home, which shrinks the new loan.
• If your family has outgrown your home, a lower rate doesn’t fix that.

Can I stay in my old house for a while after it sells?

Yes. A rent-back (post-settlement occupancy agreement), usually 30 to 60 days, is common and is negotiated in the sale contract.

• Put the daily rent, deposit and condition requirements in writing.
• The buyer’s loan usually requires them to move in within 60 days, which limits how long you can stay.

Should I sell first or buy first when downsizing?

Most downsizers sell first or at the same time and use the proceeds for a large down payment or a cash purchase.

• A rent-back on the home you’re selling gives you time to move without paying for two homes.
• If you have strong equity, a bridge loan or HELOC lets you buy first and move once.

Related: You’ve Spent Decades Building Equity. Let’s Make Sure You Keep It.

Should I pay cash or take a mortgage on my smaller home?

Cash wins on speed and competing with other offers, while a mortgage keeps more of your savings available. Many downsizers choose based on what their financial advisor recommends for retirement income.

• Some lenders offer “delayed financing,” which lets you buy with cash and take money back out soon after.
• Talk to your CPA or financial advisor before tying up a large share of your savings in the home.

Condo, townhome or single-level house: which is best for downsizing?

It depends on how much maintenance you want to hand off: condos and townhomes trade lower upkeep for HOA dues and rules, while a single-level detached home offers privacy and no shared walls.

• Attached homes in parts of Hampton Roads sit on the market longer, which can mean more room to negotiate.
• Virginia gives you a 3-day right to cancel after receiving the HOA or condo resale certificate.

What should I look for in a home I plan to stay in long-term?

Look for a first-floor primary bedroom, a no-step or low-step entry, low exterior maintenance, and a sensible flood and insurance profile.

• Check how far the home is from doctors, family and the places you go every week.
• Doorways, bathrooms and lighting are easier to adapt now than later.

How we help: Chris’s construction background helps you judge what’s easy to modify and what isn’t.

How do HOA or condo fees affect what I can afford?

Lenders count HOA and condo dues in your debt-to-income ratio, and they’re a permanent part of your monthly cost.

• Review the association’s budget and reserve study, and ask about planned special assessments before your cancellation window closes.
• Low dues can mean underfunded reserves and a special assessment down the road.

Can I buy my next home with a reverse mortgage instead of paying all cash?

Yes, if you’re 62 or older. A HECM for Purchase lets you make a large one-time down payment and have no required monthly mortgage payment.

• You still pay property taxes, insurance, HOA dues and upkeep.
• See the Senior & 55+ section for how it works.

Are there 55+ communities in Hampton Roads?

Yes. Virginia Beach, Chesapeake and Suffolk all have age-restricted communities, including resale-only neighborhoods and new-construction options.

• Examples include The Villages at West Neck (Virginia Beach), Eagle Pointe at Cahoon Plantation and The Retreat at Western Branch (Chesapeake), and Landings at Bennett’s Creek (Suffolk).
• Amenities, HOA dues and rules vary widely, so compare them side by side.

How we help: Chris specializes in guiding 55+ homeowners through downsizing and can tour communities with you.

What does “55+” mean legally, and can younger family members live with me?

Under federal law, a 55+ community must have at least 80% of occupied homes with at least one resident age 55 or older. Each community’s own rules decide who else can live there.

• Some communities limit how long guests under a certain age can stay.
• Read the covenants before you commit.

Can I buy a home with a reverse mortgage (HECM for Purchase)?

Yes. If you’re 62 or older, a HECM for Purchase lets you buy with a large down payment and no required monthly mortgage payments while you live in the home.

• You must move in within 60 days, complete HUD-approved counseling and keep paying property taxes, insurance and upkeep.
• The 2026 HUD lending limit is $1,249,125.

How much do I need to put down with a HECM for Purchase?

Roughly 50% to 65% of the price, depending on your age and current interest rates. The older you are, the less you need to put down.

• The down payment must come from savings, the sale of your current home or a gift. It can’t be borrowed.
• Eligible homes include single-family homes, HUD-approved condos and 2–4 unit homes you live in.

Should I pay cash or finance in retirement?

Paying cash avoids interest and helps you win offers, while financing keeps your investments working and your money available.

• Lenders can qualify you on retirement income and assets, not just a paycheck.
• Coordinate the decision with your financial advisor.

Are there property tax breaks for seniors in Hampton Roads?

Yes. Virginia Beach, Chesapeake and Norfolk each offer real estate tax relief for qualifying owners age 65+ or permanently disabled, based on income and net worth limits.

• Virginia Beach accepts applications once a year, typically February 1 through June 30. Check your city’s current limits and deadlines.
• Relief applies to your primary residence.

How do I protect myself from wire fraud at closing?

Always confirm wiring instructions by calling your settlement agent at a phone number you already know, and never act on emailed changes to wiring instructions.

• Scammers target buyers with large down payments, and older buyers are frequent targets.
• A legitimate settlement company will never object to you calling to verify.

Should I buy or rent when I PCS to Hampton Roads?

Buying usually makes sense if you’ll be here about 3 years or more, or if you’d keep the home as a rental after you leave. On shorter or uncertain tours, renting avoids the cost of selling quickly.

• Compare the full monthly payment (with taxes, insurance and HOA dues) against your BAH and local rents.
• Military rental demand here is steady, which helps if you plan to rent the home out later.

How we help: Chris has guided military families through PCS moves in and out of Hampton Roads for 27 years.

Related: Selling or Buying During a PCS Move to Hampton Roads

What BAH area covers Virginia Beach, Norfolk and Chesapeake?

The Norfolk/Portsmouth Military Housing Area (VA298) covers Virginia Beach, Norfolk, Chesapeake, Portsmouth and Suffolk.

• BAH depends on your pay grade and dependency status and resets every January.
• Use the official DoD BAH calculator for your exact rate.

How does a VA loan work?

With full entitlement, a VA loan lets you buy with no down payment, no monthly mortgage insurance and no VA loan limit, as long as you qualify and the appraisal supports the price.

• You pay a one-time funding fee, which can be rolled into the loan. It’s 2.15% for first use with less than 5% down, and lower if you put more down.
• Veterans receiving VA disability compensation, Purple Heart recipients and eligible surviving spouses are exempt from the funding fee.

Can I use my VA loan again if I still own my first VA home?

Often yes. If you have remaining entitlement, you can buy again, though you may need a down payment depending on price.

• In Hampton Roads, remaining entitlement is based on the 2026 county loan limit of $832,750.
• A VA-approved lender can calculate your exact remaining entitlement.

How long do I have to live in the home before renting it out?

You must move in within 60 days and intend to live there, and lenders typically expect about 12 months. PCS orders are an accepted reason to leave sooner.

• A spouse living in the home satisfies the requirement while you’re deployed.
• You can keep the VA loan and rent the home out after you move.

Can a VA buyer pay their own agent?

Yes. Under rules VA issued in 2024, veterans may pay a reasonable buyer’s agent fee, though it can’t be financed into the loan, and sellers can still pay it.

• VA’s rules on seller concessions and agent fees have been updated more than once. Confirm current guidance with your VA lender.
• About 4 in 10 Virginia Beach buyers with a mortgage use VA financing, so local sellers are used to VA offers.

Is a termite inspection required for a VA loan in Virginia?

Yes. VA requires a termite (wood-destroying insect) report in Virginia.

• Since 2022 the veteran is allowed to pay for it. It typically costs about $100 to $200 and is often negotiated onto the seller.

Can I buy a house before I arrive for my PCS?

Yes. With a signed buyer agreement, live video tours, an independent inspection and remote or mail-away closing, many military families buy before they arrive.

• Virginia allows remote online notarization, and a power of attorney can work for a deployed spouse if the lender approves it.
• Line up your lender’s pre-approval before you start looking from afar.

Related: Selling or Buying During a PCS Move to Hampton Roads

Can I assume someone else’s VA loan and keep their low rate?

Yes, if the loan servicer approves your credit. Veterans and non-veterans can both assume a VA loan.

• You pay a 0.5% funding fee and cover the gap between the price and the loan balance in cash or with a second loan.
• The seller’s entitlement stays tied to the loan unless the buyer is a veteran who substitutes their own.

What about jet noise near NAS Oceana?

Virginia Beach has official noise zones and accident potential zones around NAS Oceana and Fentress, and you should check the city’s map for any address before you make an offer.

• Noise zones are part of Virginia’s required disclosure notices.
• Homes in louder zones can be harder to resell, so factor that into the price.

Do disabled veterans get property tax breaks in Virginia?

Yes. Veterans rated 100% permanently and totally disabled from service, and qualifying surviving spouses, are exempt from real estate tax on their primary home.

• Apply through your city’s assessor or commissioner of the revenue (Va. Code § 58.1-3219.5).

Can I buy a home in Hampton Roads sight unseen?

Yes. Many relocating buyers purchase using live video tours, a thorough independent inspection and a remote closing.

• Ask for video of the street, the neighbors and the commute route, not just the inside of the house.
• Check the flood zone and get an insurance quote before you commit.

Virginia Beach, Chesapeake or Norfolk: where should I live?

It depends on your commute, budget and lifestyle. Virginia Beach offers beach and suburban living, Chesapeake more space and newer neighborhoods, and Norfolk urban neighborhoods at generally lower prices.

• Suffolk and Portsmouth often offer more house for the money.
• Test-drive the commute at rush hour, since bridges and tunnels shape daily life here.

How we help: Chris is a lifelong Virginia Beach resident and knows neighborhoods street by street, from Great Neck and the North End to Bayside and Great Bridge.

How do bridges, tunnels and traffic affect where I should buy?

A lot. The Hampton Roads Bridge-Tunnel, the Downtown and Midtown tunnels, and toll crossings can turn a short distance into a long commute, so pick your home based on your daily route.

• The HRBT expansion is expected to wrap up in 2027.
• Drive your commute at rush hour before you make an offer.

Should I rent first before buying?

Renting first makes sense if you don’t know the area yet. The trade-offs are moving twice and possibly paying more if prices keep climbing.

• A short-term lease plus a clear list of what you want lets you buy with confidence within a few months.

What’s different about buying a home in Virginia?

Virginia is “buyer beware,” the buyer chooses the settlement agent, no attorney is required, and buyers customarily pay the recordation tax.

• Most Virginia localities charge a yearly personal property tax on vehicles.
• Your inspections and your own research do the job seller disclosures do in other states.

When is the best time to buy in Hampton Roads?

Spring and summer bring the most listings and the most competition because of the military moving season, while fall and winter bring fewer homes but more room to negotiate.

• Great homes sell year-round here, so being pre-approved matters more than the calendar.

Will my relocation package cover closing costs?

Many do. Share your relocation policy with your agent and lender early, because some policies require specific vendors or timelines.

• Keep every receipt. Some moving costs may be reimbursable or tax-relevant.

Do I need my own agent to buy new construction?

Yes. The builder’s sales rep works for the builder, and bringing your own agent costs you little or nothing when the builder pays the buyer’s agent.

• Important: never visit a new construction site or model home on your own the first time. Builders may refuse to pay your agent’s commission if you register without your agent, which can leave you paying that fee yourself.
• Get the builder’s buyer-agent compensation confirmed in writing.

How we help: Chris’s construction and home-building background is a real advantage here, from reading the contract to walking the framing.

Do I need a home inspection on a brand-new home?

Yes. Get a pre-drywall inspection, a final inspection before closing, and an 11-month inspection before your first-year warranty ends.

• City code inspections check minimum standards only. They aren’t a quality review.
• Problems are far cheaper to fix before the drywall goes up.

What warranty protects a new home in Virginia?

Virginia law gives new-home buyers an implied warranty of 1 year on defects and 5 years on the foundation, unless the builder waives it with conspicuous language in the contract.

• You must give the builder written notice of a defect (Va. Code § 55.1-357).
• Most builders add their own 1-2-10 year warranty. Read what it covers and what it excludes.

Do I have to use the builder’s preferred lender?

No. You’re never required to, but builders often tie incentives like rate buydowns or closing-cost credits to their own lender.

• Compare the builder’s offer against a Loan Estimate from an outside lender, looking at the total cost, not just the incentive.

Can I negotiate with a builder?

Yes, but mostly on upgrades, closing costs, rate buydowns and lot premiums rather than the base price.

• Completed homes that haven’t sold usually have the most room to negotiate.

How long does it take to build a new home?

Typically about 6 to 12 months from contract to closing, depending on the builder and the season.

• Read the contract’s delay clause and the terms of any rate lock. Long rate locks can cost extra.

Are there extra fees in new communities?

Often yes. Expect HOA dues and sometimes special assessments from a Community Development Authority, which is part of Virginia’s required disclosure notices.

• Ask for the HOA budget and the full fee schedule before you sign.

Can I run an Airbnb in Virginia Beach?

Only in certain areas. Rentals under 30 days are allowed mainly in Sandbridge and the Oceanfront resort area with the required city permits, or at properties grandfathered in before July 1, 2018.

• Permit requirements include an annual zoning permit, liability insurance, parking and safety inspections.
• Norfolk and Chesapeake have their own short-term rental rules. Verify before you buy.

How much do I need to put down on a rental property?

Typically 15% to 25% for a conventional investment-property loan, but you can buy a 2–4 unit home with as little as 0–5% down if you live in one of the units.

• DSCR loans qualify you on the property’s rent instead of your personal income.
• Budget for vacancy, repairs, property management and flood insurance.

Which Hampton Roads areas cash-flow best?

Lower price points in Norfolk, Portsmouth and parts of Chesapeake, combined with steady military rental demand, generally produce stronger rent-to-price ratios than beachfront Virginia Beach.

• Check flood insurance costs and each city’s rental rules before you run the numbers.

What landlord laws apply in Virginia?

The Virginia Residential Landlord and Tenant Act sets the rules on security deposits, notices, repairs and evictions.

• 2026 changes include a longer cure period for unpaid rent and new rules for military tenants ending a lease on orders.
• Many out-of-area owners use a local property manager.

Do I pay tax when I sell a rental property?

Yes. You’ll owe capital gains tax plus depreciation recapture, unless you defer it through a 1031 exchange into another investment property.

• Talk to a CPA before you buy so you set up the property the right way from day one.