Frequently Asked Questions
Frequently Asked Questions
Here are some of the questions that come up most frequently - arranged into categories for your convenience.
FAQs
Downsizing, Estates, and Transitions
How do I help my aging parents downsize without it becoming overwhelming?
How do I help my aging parents downsize without it becoming overwhelming?
Overwhelm usually comes from not knowing where to start, and trying to make every decision at once. The Clear Path Method breaks it into four phases (Assess, Decide, Prepare, Transition) so families make one decision at a time instead of facing the whole process on day one. We guide you through every step - down to the details of planning the layout of your next residence, if needed.
What is a senior real estate transition specialist, and do I need one?
What is a senior real estate transition specialist, and do I need one?
A general real estate agent sells a house. A transition specialist zooms out and manages the sale of the house as one piece of the larger, full-service plan. They have knowledge of medicaid timing, Aid & Attendance familiarity, true understanding of the emotional and financial cost of a transition, and a network of trusted professionals to help serve their clients like elder law attorneys and veterans benefits specialists.
How does selling a parent's home affect Medicaid eligibility?
How does selling a parent's home affect Medicaid eligibility?
This is a legal and financial question, and I always loop in an elder law attorney for the specifics - but I can walk you through how the timeline of a home sale typically needs to be sequenced around Medicaid planning, the general rules of the "lookback period," and connect you with the right professional if you don't have one yet.
What happens when siblings disagree while selling an inherited property?
What happens when siblings disagree while selling an inherited property?
This comes up more than people expect, and it's rarely about the house. I've worked through this with families before; my role is to keep the process fair and moving, not to take sides. There are procedures in place that ensure transparency and fairness for all. Two examples are: 1) an independent appraisal on an antique dresser, and 2) a detailed accounting of exactly what sold and for how much during an estate sale.
Selling a Home
How do I know what my home is worth?
How do I know what my home is worth?
Online estimates are a starting point, not an answer. Those are Automated Valuation Models (AVMs) and are flawed by incomplete data and missing appraisal principles. Pricing strategy is about how your specific home compares to what's actually selling right now, and what buyers are willing to pay for the condition, location, and timing you're in. As a Certified Pricing Strategy Advisor (PSA),
we take a deep-dive into actual data, your competing offerings, and positioning strategy - to protect your goals and maximize your bottom line.
What should I fix before listing my home?
What should I fix before listing my home?
Not everything. That's usually the mistake. Some repairs return real value at closing; others are money spent for nothing. Part of my process is telling you what not to spend money on, not just what to fix. As a licensed Class A Builder and Realtor, I flag items that may become "conditions to close" by a lender (delaying clsoing), issues that may decrease our buyer pool, or influence our negotiating stance during inspection periods. Addressing these early, if not selling as-is, will protect your timeline and your bottom line.
How does selling a parent's home affect Medicaid eligibility?
How does selling a parent's home affect Medicaid eligibility?
This is a legal and financial question, and I always loop in an elder law attorney for the specifics - but I can walk you through how the timeline of a home sale typically needs to be sequenced around Medicaid planning, the general rules of the "lookback period," and connect you with the right professional if you don't have one yet.
How long does it take to sell a house in Central Virginia?
How long does it take to sell a house in Central Virginia?
The length of time between when we start working together and when you officially close varies greatly depending on your indivual plan. If the house is already prepared, and no other services need to happen before hitting the market, it can take anywhere from 4-8 weeks (average days on market fluctuates throughout the year). The good news is that while much of the country has experienced a decrease in property values year-over-year in 2026, our central Virginia market has enjoyed a 5% appreciation in values. This has helped keep the market moving and strong.
How much does it cost to sell a house?
How much does it cost to sell a house?
Direct costs to selling a house in central Virginia include (if applicable) your mortgage payoff amount, a grantor's tax of 0.1% of the sales price, the cost of a termite inspection (average $85), closing attorney fees (average $500), listing broker fee (there is no standard, but most firms charge a small percent-based fee). Additional costs to sell could include (only if applicable) the cost of repairs, wire transfer fees, closing credits, or any contribution to the buyer broker's fee.
Buying a Home
How much do I need for a down payment?
How much do I need for a down payment?
Down payment requirements vary greatly depending on how you will be purchasing the property (cash vs. mortgage, and which loan product your lender matches you with). For example, veterans may qualify for a VA Loan with 100% financing - meaning you can finance 100% of the value of the home; FHA is a government backed program that requires only 3.5% down; and in some circumstances conventional loans may only require 3-5% down. VHDA has available grants (money never paid back) that will reduce downpayment cost for qualified properties. It is important to speak with a trusted lender who will match you with a program that best fits your needs. It's equally as important to work with a Realtor® who is familiar with condition requirements of these programs.
What's the difference between pre-qualified and pre-approved?
What's the difference between pre-qualified and pre-approved?
Pre-qualified is a quick estimate. You share your income, debt, and assets (usually via phone or online) and a lender gives you a rough idea of what you might qualify for. No documentation required, no verification done. It tells you approximately where you stand.
Pre-approved is the real thing. The lender pulls your credit, verifies your income and assets with actual documentation, and gives you a conditional commitment for a specific loan amount. It carries weight with a seller because it means underwriting has already looked at your file - not just your word. That distinction matters in competitive situations.
What hidden costs surprise first-time buyers?
What hidden costs surprise first-time buyers?
Here are a few out-of-pocket costs (paid upfront at time of service) to plan for:
1 - Earnest Money Deposit (EMD). This is negotiated in your offer, but usually between $500 and 1% of the purchase price. It will be due either at the time your offer is accepted, or within a few days (negotiated in contract).
2 - Home inspection. Fee is based on size of the home, but our area averages $400-550.
3 - Miscellaneous prepaids (interest, property tax, etc.) - your lender will provide an estimate at the beginning of the process.
4 - Moving costs - not a closing cost, but some people forget to budget for this entirely
What should I look for during a walkthrough that most buyers miss?
What should I look for during a walkthrough that most buyers miss?
When we take you to tour a home, with a Class A Builder on staff, we will teach you what to look for: hairline cracks above windows and doors, grading around the foundation, water stains and fresh paint, caulking and grout in bathrooms, electrical panel age & condition, and so much more. It's important to learn the difference between something that is truly concerning vs. something that is just cosmetic. Follow our Instagram and YouTube for more insider tips! @theallieslocum
Working with Slocum & Co
Is Slocum & Co just another real estate agent?
Is Slocum & Co just another real estate agent?
No. We have do a licensed Realtor® in house - but that's just one piece of who we are. Slocum & Co exists because a real estate transaction was never actually the whole picture. What we built is a company that handles the entire picture... the decisions before it, the people affected by it, and everything that has to happen for the transition to actually go well, not just close on paper. When you're faced with needing to downsize, an unexpected change in health, or an inherited house to clean out - we show up with a clear plan and compassionate guidance for the whole process.
What areas do you serve?
What areas do you serve?
Currently, we are hand-on (downsizing, transitions, and all supporting services) in Central Virginia. On the real estate side, we are licensed in the Commonwealth of Virginia, and help clients relocating from out-of-state or right here in Virginia.
The majority of our clients we serve are in Chesterfield, Richmond, Colonial Heights, Henrico, Powhatan, Goochland, Hanover (including Ashland), Dinwiddie, Petersburg, Prince George, Hopewell, New Kent.
If you don't see your area listed, please still reach out - it's impossible to list every area.
What kind of skillsets and professionals do you have in house?
What kind of skillsets and professionals do you have in house?
We bring the expertise of a Licensed Realtor®, Class A Builder, Professional Photographer and Brand Specialist, healthcare backgrounds, investigations, management, organizing & project management, and more. We use our skillsets, with our genuine compassion for people, to serve our clients and bring peace of mind through a time that would be otherwise chaotic.
How do I get started working with you? Do I have to commit right away?
How do I get started working with you? Do I have to commit right away?
Getting started is easy. Of course you don't need to commit right away - just reach out and see how we can help you.
You can click the Questionnaire below, to give us an idea of where you are in the process, then we'll touch base. Alternatively, you can reach out via whichever method is best for you:
You don't need to have it all figured out yet
You don't need to have it all figured out yet
most people don't realize
Most people reach out before they know exactly what they need. That's the right time.
You don't need to have it all figured out yet. You don't need to know what to keep, what to sell, or where to even start. I know it's overwhelming.
That's not something you have to do alone.
It's okay to reach out and start with "I'm not sure exactly what I need yet."
It's also okay if you do already know.
Click the button to fill out the "Where You Are | Questionnaire."
This gives you the space to think through it at your own pace, and allows me to understand where you are and how I can help.
There are no wrong answers. If you're unsure of anything, just leave it blank.
Most people reach out before they know exactly what they need. That's the right time.
You don't need to have it all figured out yet. You don't need to know what to keep, what to sell, or where to even start. I know it's overwhelming.
That's not something you have to do alone.
It's okay to reach out and start with "I'm not sure exactly what I need yet."
It's also okay if you do already know.
Click to fill out the
"Where You Are | Questionnaire."
This gives you the space to think through it at your own pace, and allows me to understand where you are and how I can help.
There are no wrong answers. If you're unsure of anything, just leave it blank.
Start here.
