How Do You Sell a Condo in Washington, DC

by Saad Jamil

How to sell a condo in Washington DC step by step guide

Selling a condo in Washington, DC follows the same core path as selling any home, but with a few important differences: a condo resale package, building specific HOA rules, and some of the highest transfer taxes in the country. So how do you sell a condo in Washington, DC? The short version is to confirm your timing, prepare the unit and your association documents, price against recent comparable sales, market to the right buyers, and work through the offer and rescission process carefully all the way to closing. Partnering with an experienced Washington real estate agent who understands the District's condo market makes each of those steps faster and far less stressful.

This guide walks through the full process step by step, from deciding whether to list to handing over the keys. You will learn what paperwork DC requires, how condo pricing actually works, what it costs to sell, and where most sellers lose time and money. Whether you own a studio near Dupont Circle, a one-bedroom in Columbia Heights, or a waterfront unit at The Wharf, the same fundamentals apply.

Quick Answer

To sell a condo in Washington, DC, decide on your timing, prepare the unit, and order your condo resale package early since it triggers a three day buyer rescission period. Price it using recent in building comparable sales, market it with professional photos and your Metro and walkability advantages, then manage offers through closing. Choosing a competitive listing fee, such as a 1.5% full-service option, helps you keep more of your equity after DC's transfer taxes and settlement costs.

Key Takeaways

  • Selling a DC condo involves an extra step single-family sellers skip: the condo resale package, which starts a three day buyer rescission window.
  • Order your resale package as soon as you decide to sell. It can take one to two weeks and usually costs $200 to $500.
  • Price against recent sales in your own building or comparable buildings, and account for how HOA fees affect a buyer's total monthly payment.
  • DC sellers pay a transfer tax of 1.1% to 1.45% of the sale price, so closing costs deserve attention from day one.
  • Your listing commission is one of the few costs you control. A 1.5% full-service listing fee can save thousands without cutting marketing or representation.

How the DC Condo Selling Process Works

At a high level, selling a condo in the District moves through six stages: deciding to sell, preparing the unit and documents, pricing, marketing, negotiating offers, and closing. Most of these mirror a standard home sale, but condos add a layer of association paperwork and a buyer protection period that you need to plan around from the start.

The biggest difference is the condo resale package. Once a buyer goes under contract, you must deliver a set of association documents, and DC law gives the buyer a short window to review them and cancel the deal if something concerns them. That single requirement shapes your timeline more than anything else, which is why preparation comes early in this guide.

Before you list, it helps to understand the full sequence so nothing surprises you mid transaction. If you are ready to map out the home selling process from start to finish, the six steps below give you a clear, realistic roadmap.

Stage What Happens Typical Timing
1. Decide Confirm your goals, timing, and equity position Ongoing
2. Prepare Declutter, stage, order the resale package 1 to 2 weeks
3. Price Run a comparative market analysis, set list price A few days
4. Market Photography, MLS launch, showings, open houses 2 to 6 weeks
5. Negotiate Review offers, deliver resale package, rescission 3 to 10 days
6. Close Inspection, appraisal, settlement, key handover 3 to 5 weeks

Step 1: Decide Whether Now Is the Right Time to Sell

Before you do anything else, get clear on why and when you want to sell. The DC condo market has shifted from the pandemic era frenzy toward a more buyer friendly environment, with higher inventory and longer days on market than single-family homes. Remote work reduced demand for compact urban units, rising HOA fees squeezed affordability, and uncertainty around federal employment softened overall demand.

That does not mean condos are not selling. Well prepared, competitively priced units still go under contract quickly, often within the first few weeks. The deciding factors are preparation, pricing, and positioning rather than luck. If your timeline is flexible, you have room to prepare thoroughly. If you need to move quickly, you will lean harder on sharp pricing and strong marketing. It also pays to weigh the best time to sell in Washington, DC against your own deadline, since seasonal demand shifts how quickly condos move.

Know Your Equity Before You List

Start by understanding what your unit is worth today and what you would net after costs. An accurate starting point keeps your expectations realistic and your pricing competitive. You can request a free condo valuation based on recent comparable sales in your building and neighborhood, which is far more reliable than an automated online estimate.

Free, No Obligation What Is Your DC Condo Worth Right Now?

Get a personalized valuation from The Jamil Brothers based on real, recent comparable condo sales in your neighborhood, not a generic algorithm. Response within 24 hours.

Step 2: Prepare Your Condo and Order the Resale Package

Preparation is where DC condo sellers gain or lose the most ground. There are two tracks here, and you should run them at the same time: getting the physical unit show ready, and getting your association documents in order.

Get the Unit Show Ready

Staging a condo is about creating the feeling of space, not filling it. In a market where buyers compare dozens of similar sized units, the one that feels open, bright, and functional wins. Remove a large share of your furniture and personal items, scale down oversized pieces, and let buyers see the walls, floors, and natural light. Pay special attention to closets, since DC buyers know storage is at a premium and will open every one.

DC Condo Preparation Checklist

  • Declutter and remove a large share of furniture and personal items
  • Swap bulky furniture for apartment scale pieces
  • Maximize light with sheer window treatments and warm LED bulbs
  • Add a mirror opposite the largest window to reflect light
  • Repaint in bright neutral tones if walls are dark or dated
  • Deep clean, including grout, baseboards, and light fixtures
  • Order the condo resale package from your management company

Order the Condo Resale Package Early

The condo resale package, sometimes called a resale certificate, is a required bundle of association documents you must give the buyer once you are under contract. It includes the declaration and bylaws, the annual budget and financial statements, the reserve study, insurance certificates, rules and regulations, recent meeting minutes, and disclosure of any pending special assessments or litigation. The package works alongside the broader DC seller disclosure requirements every owner must meet, so it helps to know what you are obligated to share before you list.

Do not wait until you have an offer to request it. Processing typically takes one to two weeks and costs $200 to $500 depending on your management company. Order it as soon as you decide to sell so it is ready before your first showing. Review it yourself, or with your agent, ahead of time. If the documents reveal underfunded reserves, a looming special assessment, or rental caps near capacity, you want to address those issues in your marketing rather than have a buyer discover them and walk away.

What Is Inside a DC Condo Resale Package

Document Why It Matters
Declaration and Bylaws Govern what owners can and cannot do
Budget and Financial Statements Show whether the HOA is financially healthy
Reserve Study Reveals whether reserves are adequately funded
Insurance Certificates Confirm building wide coverage
Pending Assessments or Litigation A major red flag for buyers if present
Rules and Regulations Pet policies, rental restrictions, noise rules
Recent Meeting Minutes Show what the board is planning or discussing

Step 3: Price Your DC Condo Accurately

Pricing is the single biggest lever you control. In a market with elevated inventory, the worst strategy is listing high and planning to reduce later. Each price cut signals weakness to buyers and lengthens your time on market. Condos priced correctly from day one consistently sell faster and closer to list price.

Use In Building Comparable Sales

Work with your agent on a comparative market analysis focused on recent condo sales in your specific building, or in buildings of similar age and amenity level within a quarter mile. Pay close attention to price per square foot, the metric condo buyers use to compare units. If the last three sales in your building closed at $460 to $475 per square foot, pricing yours at $520 will likely stall regardless of your upgrades.

Factor In How HOA Fees Affect Buyers

Buyers do not evaluate your condo on list price alone. Their lender calculates the total monthly payment: mortgage principal and interest, property taxes, insurance, and HOA fees. DC condo HOA fees often run $500 to $800 per month, and luxury or older high rises can exceed $1,000. A higher monthly fee shrinks how much a buyer can borrow, which shrinks your buyer pool at any given price.

Monthly HOA Fee Available for Mortgage Approximate Max Price
$400 per month $2,800 per month about $520,000
$650 per month $2,550 per month about $470,000
$900 per month $2,300 per month about $420,000

Estimates assume a $3,200 total monthly budget, 10% down, taxes, and insurance. For illustration only.

Tip: Run Your Net Before You Price

Pricing decisions are easier when you know your bottom line. Before you settle on a list price, estimate your proceeds with a seller net sheet so you can negotiate from clarity instead of guesswork.

Know Your Numbers See Exactly What You Will Walk Away With

Our seller net sheet breaks down every cost, from commission to DC transfer taxes to settlement fees, so you know your real bottom line before you list your condo.

Step 4: Market Your Condo to the Right Buyers

When you sell a condo in Washington, DC, you are not just selling four walls and a floor plan. You are selling a lifestyle built around walkability, transit access, and what sits within a five minute walk of the front door. Strong marketing leans into that.

Lead With Metro Access and Walkability

DC is a transit centric city, and proximity to a Metro station is one of the most reliable value drivers for condos. If your unit is within a 10 minute walk of a station, make that a headline feature, not a footnote. Go beyond naming the station: specify the walk time, the lines it serves, and what it unlocks. A description like "six minute walk to Columbia Heights Metro, Green and Yellow lines, 20 minutes to downtown" paints a far more vivid picture than "close to Metro."

Many DC condo neighborhoods score in the 90s on Walk Score, so include your unit's Walk Score, Transit Score, and Bike Score in your listing materials. These numbers resonate with the young professionals, government employees, and car free households that make up a large share of the District's condo buyers.

Neighborhood Walk Score Nearest Metro
Dupont Circle 98 Dupont Circle (Red)
Logan Circle 97 U Street (Green/Yellow)
Columbia Heights 96 Columbia Heights (Green/Yellow)
Capitol Hill 93 Eastern Market (Blue/Orange/Silver)
Navy Yard 91 Navy Yard (Green)
Southwest Waterfront and The Wharf 89 Waterfront (Green)

Invest in Professional Photography

Nearly all condo buyers start their search online, so your photos are your first showing. Listings with professional photography draw far more clicks than those with dim phone snapshots. Capture the unit at its brightest, and include two or three shots of the surrounding area: the tree lined street, the Metro entrance, the rooftop view. Neighborhood photos differentiate your listing from every other condo with the same countertops and appliances.

Describe the Daily Life Buyers Are Buying

In your listing copy, go beyond square footage and finishes. Mention the morning coffee around the corner, the farmers market two blocks away, the evening walk to the restaurants on 14th Street. Buyers relocating to DC for government, consulting, or legal work are buying into a neighborhood as much as a floor plan, and the listings that capture that feel are the ones that earn showings. For more ways to make your unit memorable, these tips to help your DC condo stand out go deeper on positioning in a crowded market.

Step 5: Review Offers and Navigate the Rescission Period

Once offers arrive, the work shifts to evaluation and negotiation. Price is only part of an offer. You also weigh the financing type, contingencies, proposed timeline, earnest money deposit, and how the buyer plans to handle the condo documents.

Understand the Three Day Rescission Period

This is the part that makes condo sales different. Under DC law, once the buyer receives the condo resale package, they have a three day right of rescission. If something in those documents raises a concern, such as underfunded reserves, pending litigation, rental restrictions, or a looming special assessment, the buyer can cancel and keep their earnest money deposit. A problematic resale package does not just slow your sale, it can end it.

This is exactly why Step 2 stresses ordering and reviewing the package early. Delivering a clean, well organized package the moment you go under contract keeps the rescission clock short and the deal on track.

Decide How to Handle Buyer Agent Compensation

Since the 2024 NAR settlement changes, buyer agent compensation is negotiated separately rather than embedded in the listing commission. You are not required to offer it, but doing so can make your listing more attractive in a market where buyers have plenty of options. Talk through the right approach with your listing agent based on conditions in your specific building and neighborhood.

Step 6: Close the Sale and Maximize Your Net

After the contract is ratified and the rescission period passes, the transaction moves into the closing phase: home inspection, appraisal, loan processing, and final settlement. Washington, DC requires attorney involvement in real estate settlements, so an attorney or title company will coordinate the paperwork and disbursement.

During this window, stay responsive. Provide any additional association documents promptly, complete agreed upon repairs, and keep the unit and common areas presentable for the appraiser and the final walkthrough. On settlement day, you sign the closing documents, the title transfers, your mortgage is paid off, and your net proceeds are disbursed.

1

Inspection and Appraisal

The buyer schedules a home inspection, and the lender orders an appraisal to confirm value.

2

Loan Processing

The buyer's lender finalizes underwriting and clears the loan to close.

3

Final Walkthrough and Settlement

The buyer confirms the condition, both parties sign, and the title transfers at the settlement table.

What Does It Cost to Sell a Condo in Washington, DC?

DC sellers face some of the highest closing costs in the country, and condo sellers carry a few extra line items on top. Understanding these costs in advance, and knowing where you can save, is what separates the seller who is surprised at the settlement table from the one who plans for it. For a broader look beyond the condo specific line items, see our breakdown of the full cost of selling a house in DC.

DC Transfer and Recordation Taxes

Washington, DC charges both a transfer tax and a recordation tax when property changes hands, and the rates are higher than what sellers pay in neighboring Virginia or Maryland. By custom, the seller pays the transfer tax and the buyer pays the recordation tax, though this is negotiable.

Sale Price Transfer Tax (Seller) Recordation Tax (Buyer)
Under $400,000 1.1% 1.1%
$400,000 and above 1.45% 1.45%

For a $500,000 condo, the seller's transfer tax alone comes to roughly $7,250. That is a meaningful cost many sellers do not account for until they see the settlement statement.

Estimated Seller Closing Costs on a $500,000 DC Condo

Expense Estimated Cost
Transfer Tax (1.45%) $7,250
Title and Settlement Fees $1,200 to $1,500
Owner's Title Insurance $1,200 to $1,500
Recording Fees about $50
Condo Resale Package $200 to $500
HOA Transfer or Move Out Fee $250 to $500
Attorney Fees (required in DC) $500 to $1,000
Listing Commission (traditional 3%) $15,000
Listing Commission (1.5% full-service option) $7,500
Total at 1.5% listing fee about $18,450 to $19,300

Estimates for illustration. Actual costs vary by transaction and do not include buyer agent compensation, which is negotiated separately.

Where You Can Actually Save

Transfer taxes and recording fees are set by the District and are not negotiable. Your listing commission is. A 1.5% full-service listing fee saves you about $7,500 on a $500,000 condo compared with a standard 3% rate, without cutting marketing, MLS exposure, professional photography, or negotiation. If your situation calls for a different arrangement, it is worth reviewing the available flexible commission structures before you commit to a listing agreement.

Full-Service, No Tradeoffs List for 1.5% and Keep More of Your Equity

Professional photography, drone video, 3D tours, expert negotiation, and full MLS marketing, all included at 1.5%. No hidden fees and no reduction in service.

Save About $7,500 vs. a traditional 3% listing agent on a $500K condo

Seller Savings Calculator

How much more do you keep with our 1.5% listing fee?

Select your condo's estimated value to see your real net proceeds, side by side.

Traditional Agent (3%)

Sale price$400,000
Listing fee (3%)-$12,000
Buyer's agent (2.5%)-$10,000
Est. closing (1%)-$4,000
Net Proceeds$374,000
Jamil Brothers, 1.5%

Our Fee, Only 1.5%

Sale price$400,000
Listing fee (1.5%)-$6,000
Buyer's agent (2.5%)-$10,000
Est. closing (1%)-$4,000
Net Proceeds$380,000

Extra in your pocket

$6,000

vs. a traditional 3% listing agent, with zero reduction in service or marketing.

Traditional Agent (3%)

Sale price$500,000
Listing fee (3%)-$15,000
Buyer's agent (2.5%)-$12,500
Est. closing (1%)-$5,000
Net Proceeds$467,500
Jamil Brothers, 1.5%

Our Fee, Only 1.5%

Sale price$500,000
Listing fee (1.5%)-$7,500
Buyer's agent (2.5%)-$12,500
Est. closing (1%)-$5,000
Net Proceeds$475,000

Extra in your pocket

$7,500

vs. a traditional 3% listing agent, with zero reduction in service or marketing.

Traditional Agent (3%)

Sale price$600,000
Listing fee (3%)-$18,000
Buyer's agent (2.5%)-$15,000
Est. closing (1%)-$6,000
Net Proceeds$561,000
Jamil Brothers, 1.5%

Our Fee, Only 1.5%

Sale price$600,000
Listing fee (1.5%)-$9,000
Buyer's agent (2.5%)-$15,000
Est. closing (1%)-$6,000
Net Proceeds$570,000

Extra in your pocket

$9,000

vs. a traditional 3% listing agent, with zero reduction in service or marketing.

Traditional Agent (3%)

Sale price$750,000
Listing fee (3%)-$22,500
Buyer's agent (2.5%)-$18,750
Est. closing (1%)-$7,500
Net Proceeds$701,250
Jamil Brothers, 1.5%

Our Fee, Only 1.5%

Sale price$750,000
Listing fee (1.5%)-$11,250
Buyer's agent (2.5%)-$18,750
Est. closing (1%)-$7,500
Net Proceeds$712,500

Extra in your pocket

$11,250

vs. a traditional 3% listing agent, with zero reduction in service or marketing.

Traditional Agent (3%)

Sale price$1,000,000
Listing fee (3%)-$30,000
Buyer's agent (2.5%)-$25,000
Est. closing (1%)-$10,000
Net Proceeds$935,000
Jamil Brothers, 1.5%

Our Fee, Only 1.5%

Sale price$1,000,000
Listing fee (1.5%)-$15,000
Buyer's agent (2.5%)-$25,000
Est. closing (1%)-$10,000
Net Proceeds$950,000

Extra in your pocket

$15,000

vs. a traditional 3% listing agent, with zero reduction in service or marketing.

Get My Free Custom Net Sheet →

Estimates only. Closing costs vary. Buyer's agent commission is negotiable.

500+ Five-Star Reviews, Top 1% Nationwide, 840+ Homes Sold TheJamilBrothers.com, (703) 782-4830

Alternatives to a Traditional Condo Sale

Depending on your timeline, finances, and your building's situation, listing on the open market may not be your only path. Here are the main alternatives worth weighing before you decide.

Option Best When Tradeoff
Rent the condo You have flexibility and rental demand is strong Landlord duties and DC tenant friendly laws
Cash offer You need speed and certainty over top dollar Lower sale price than the open market
Hold and wait You can afford to wait for conditions to improve Ongoing HOA fees, taxes, and opportunity cost
Sell FSBO You have real estate experience and time Limited exposure, negotiation and legal risk

DC's strong rental market makes leasing viable for owners who are not in a rush, though you should check your association's rental caps first, since many buildings limit the share of units that can be rented. If speed and certainty matter most, you can request a cash offer and compare it side by side with what an open market sale would likely net.

Need Speed or Certainty? Explore Your Cash Offer Option

If timing, condition, or certainty matters more than maximum price, a cash offer may fit. We will walk you through your full range of options with no pressure.

Common Mistakes DC Condo Sellers Make

Even in a healthy market these missteps cost sellers time and money. In a buyer friendly condo market, they can be especially expensive.

Mistakes to Avoid

Pricing on your mortgage balance What you owe has no bearing on what a buyer will pay. Price on comparable sales.
Ignoring HOA impact on affordability High fees shrink the buyer pool. Factor them into your pricing strategy.
Skipping staging because it is a condo Small spaces benefit the most from staging and decluttering.
Ordering the resale package too late Waiting until you are under contract can add weeks and stall closing.
Listing with dark or low quality photos Most buyers start online. Weak photos mean fewer showings.
Neglecting the building's common areas A dirty lobby or cluttered hallway creates a poor first impression.

How Long Does It Take to Sell a Condo in DC?

From listing to closing, a typical DC condo sale runs about 10 to 14 weeks. Well prepared, competitively priced units in desirable neighborhoods can move faster, while overpriced units or those in buildings with high fees may take longer. Condos can run a little longer than the broader market, so it helps to compare this against how long it takes to sell a house in DC overall.

Weeks 1 to 2 Preparation. Interview agents, order the resale package, get a valuation, declutter and stage.
Weeks 3 to 4 Go live. Finish staging, professional photography, set pricing, launch on the MLS.
Weeks 5 to 8 Showings and offers. Host showings, review offers, negotiate, ratify the contract.
Weeks 9 to 12 Under contract. Deliver the resale package, three day rescission, inspection, appraisal, loan processing.
Weeks 13 to 14 Closing. Final walkthrough, settlement, title transfer, keys handed over.

Putting It All Together: Selling Your DC Condo With Confidence

Selling a condo in Washington, DC comes down to a clear sequence: confirm your timing, prepare the unit and your association documents, price against real comparable sales, market the lifestyle as much as the floor plan, and manage the rescission period and closing with care. The sellers who follow that process, rather than listing and hoping, are the ones who sell faster and keep more at the table.

You control more of the outcome than the market headlines suggest, especially when it comes to preparation, pricing, and the listing fee you choose. If you want a local team that knows the District's buildings, paperwork, and buyers, connect with a group that sells condos here every week.

Frequently Asked Questions

How do you sell a condo in Washington, DC?

Selling a condo in Washington, DC follows six steps: decide on your timing, prepare the unit and order the resale package, price it using recent comparable sales, market it with professional photos and your Metro and walkability advantages, review offers and manage the three day rescission period, and close the sale. The condo resale package and DC's transfer taxes are the two things that make a condo sale different from a single-family sale, so plan for both early.

What documents do I need to sell a condo in DC?

The central document is the condo resale package, also called a resale certificate. It includes the association declaration and bylaws, the annual budget and financial statements, the reserve study, insurance certificates, rules and regulations, recent meeting minutes, and disclosure of any pending special assessments or litigation. You provide it to the buyer once you are under contract, and it triggers a three day rescission period.

How long does it take to sell a condo in Washington, DC?

A typical DC condo sale takes about 10 to 14 weeks from listing to closing. Average days on market run roughly 60 to 90 days, but well priced and staged condos in desirable locations often go under contract in 25 to 35 days. Overpriced units or buildings with high HOA fees can take significantly longer.

What does it cost to sell a condo in DC?

Expect roughly 2.5% to 3% of the sale price in non commission closing costs, including the transfer tax of 1.1% to 1.45%, title and settlement fees, recording fees, the condo resale package, an HOA transfer fee, and attorney fees, plus your listing commission on top. On a $500,000 condo, choosing a 1.5% full-service listing fee instead of a 3% rate saves about $7,500.

Do I need an attorney to sell a condo in DC?

Yes. Washington, DC requires attorney involvement in real estate settlements. Budget roughly $500 to $1,000 for attorney fees as part of your closing costs. An attorney or title company coordinates the closing paperwork, payoff, and disbursement of your proceeds.

How do I price my DC condo correctly?

Base your price on a comparative market analysis of recent sales in your own building or comparable buildings within about a quarter mile, focusing on price per square foot. Price competitively from day one rather than starting high and reducing later, since price cuts signal weakness and lengthen time on market. Account for HOA fees, since they reduce how much a buyer can borrow and affect your realistic buyer pool.

How do HOA fees affect selling my condo?

Lenders include HOA fees in a buyer's total monthly payment, so higher fees reduce buyer purchasing power. A building with $800 per month fees attracts fewer qualified buyers than one with $400 per month fees at the same list price. If your building has high fees, price to account for it and emphasize what the fees cover, such as utilities, amenities, and building maintenance.

Can I sell my DC condo if the building has rental restrictions?

Yes, you can still sell even with rental caps or restrictions in place. However, these limits may shrink your buyer pool, since some investors and buyers who plan to rent eventually will pass. Disclose any rental restrictions clearly in your listing and resale package so there are no surprises during the contract period.

What is the three day rescission period?

Under DC law, after a condo buyer receives the resale package they have three days to review it and cancel the contract without penalty, keeping their earnest money deposit. It exists to protect buyers from hidden association problems. Delivering a clean, complete package promptly keeps this window short and your sale on track.

How do I choose the best agent to sell my DC condo?

Look for agents with specific condo selling experience in your neighborhood, a track record of marketing compact units, and a clear digital marketing strategy, since nearly all condo buyers start online. Ask about their pricing approach in a high inventory market, their photography and staging partnerships, and their commission structure. Teams like The Jamil Brothers Realty Group, which offers a 1.5% full-service listing fee with comprehensive marketing, are worth comparing alongside traditional rate agents.

Should I offer to pay the buyer's agent commission?

Since the 2024 NAR settlement changes, buyer agent compensation is negotiated separately. You are not required to offer it, but doing so can make your listing more competitive in a buyer's market where buyers have many options. Discuss the right strategy with your listing agent based on conditions in your specific building and neighborhood.

What are common mistakes to avoid when selling a DC condo?

The most frequent mistakes are pricing on your mortgage balance instead of comparable sales, ignoring how HOA fees affect affordability, skipping staging, ordering the resale package too late, using dark or low quality photos, and neglecting the building's common areas. Each one either narrows your buyer pool or slows your sale, and all of them are avoidable with early planning.

Glossary of DC Condo Selling Terms

Transfer Tax

A District tax on the transfer of real property, 1.1% under $400,000 and 1.45% at $400,000 or above. By custom paid by the seller.

Recordation Tax

A District tax charged when deeds and mortgage documents are recorded, at the same rates as the transfer tax. By custom paid by the buyer.

Resale Package

A required bundle of condo association documents provided to the buyer, including financials, bylaws, and insurance. Triggers a three day rescission period.

HOA or Condo Fees

Monthly fees to the association covering shared maintenance, insurance, amenities, and reserves. DC averages often run $500 to $800 per month.

Special Assessment

A one time charge to owners for a major expense, such as roof or elevator work, that is not covered by existing reserves.

Reserve Study

A professional assessment of a building's long term maintenance needs and the adequacy of its reserve fund. Underfunded reserves are a red flag for buyers.

Comparative Market Analysis

A report comparing recent sales, pending sales, and active listings of similar condos to help set the right list price.

Rescission Period

The three day window after a DC condo buyer receives the resale package during which they can cancel the contract without penalty.


This article is for informational purposes only and does not constitute legal or financial advice. Market figures are drawn from publicly available sources and are subject to change. Consult a licensed professional for advice specific to your situation. Jamil Brothers Realty Group.

 

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