Buying & Selling
Valuation, prepping to sell, and the closing process.
The Home Inspection Contingency
The inspection contingency lets you back out or renegotiate if inspection reveals problems. Waiving it in hot markets to strengthen offers is common but risky.
For Sale By Owner (FSBO) — Pros and Cons
FSBO saves 5-6% listing commission but requires you to handle marketing, showings, negotiations, and legal paperwork yourself. Typical sale takes 30% longer and often sells 3-5% below agented listings.
First-Time Homebuyer Checklist
The first-time buyer path has 8 stages, each with critical decisions. Skipping steps or getting them out of order is the difference between a smooth close and a stressful mess.
The Financing Contingency
The financing contingency lets you back out if your mortgage falls through. Waiving it means you owe seller earnest money if financing fails — even for reasons outside your control.
Dual Agency — Risks and Red Flags
Dual agency lets one agent represent both buyer and seller in the same transaction. Reduces conflict but creates conflict of interest — most professionals recommend against it unless you understand what you're giving up.
How Much Down Payment Do You Really Need?
20% down avoids PMI but locks up cash. Conventional loans allow as little as 3% down; FHA is 3.5%. Right amount depends on your rate outlook, cash reserves, and hold plan.
Contingent vs Cash Offers
Cash offers close faster with fewer failure modes but come at lower price. Contingent offers can pay higher but carry financing, appraisal, and inspection risk for the seller.
How to Make a Competitive Offer in a Hot Market
In multiple-offer situations, offer strategy matters as much as price. Escalation clauses, waived contingencies, personal letters, and quick closes can win against higher-dollar offers.
Closing Costs for Sellers
Seller closing costs typically run 8-10% of sale price when real estate commission is included — $32,000-$40,000 on a $400K home. Reducing them requires negotiating commission or going FSBO.
Closing Costs for Buyers
Buyer closing costs typically run 2-5% of purchase price — $6,000-$15,000 on a $300K home. Broken into lender fees, third-party fees, title/escrow, and prepaid items.
Buyer's Agent vs Seller's Agent
A buyer's agent represents your interests as a buyer. A seller's agent (listing agent) represents the seller. Same person cannot represent both in most states without dual agency disclosure.
The Best Time of Year to Sell a Home
Spring and early summer generate the most buyer activity and highest prices in most markets. Late fall and winter see fewer buyers but less competition. The right season depends on your market and family situation.
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