Robert D. Smith, Associate Broker

425.443.5663 Direct

425.920.0707 Facsimile

Contact Rob Smith

Sellers Frequently Asked Questions (FAQ)

• Q: What should I list my home for?
• A: Several factors are considered when determining a list price for your home. Some of the items we use to help us determine a list price are:

1. Location of your home
2. What comparable homes have recently sold for
3. Current economic conditions
4. Supply and demand in the local housing market
5. Seasonal influences
6. Improvements that have been made to your home

• We will work within the boundaries of the current market conditions as well as your own personal needs in order to determine the best list price for your home.

• Q: What is earnest money?
• A: Earnest money is a "good faith" deposit submitted with the buyer's offer to show you that the buyers are serious about purchasing your home. Earnest money is a required part of the contract, though there is no set amount. The amount of earnest money that the buyer offers in the contract can be used as a negotiation tool. The money eventually becomes part of the purchase, and will show as a credit to the buyer on the settlement statement.

• Q: What items stay with the house?
• A: All items that are classified as "real property" must stay with the house, unless specifically stated in the purchase and sale agreement. Real property is defined as any item that is attached to the structure or the ground. This includes window treatments, light fixtures, shrubs and trees, built-in appliances, etc. You should determine any items of real property that you would like to keep prior to coming on the market. Disclosing those items upfront can eliminate potential disputes at closing.

• Q: What do I have to disclose about the condition of my property?
• A: You are required to disclose all known material defects with your property. A material defect is a condition that significantly affects the value, desirability, habitability, or safety of the dwelling. Prior to listing your home, you will complete a Seller Disclosure Statement. This form consists of various questions pertaining to your property. You must deliver a completed statement to the buyer within five days of mutual acceptance. Failure to disclose a material defect can result in a lawsuit. Honesty is always the best policy when it comes to disclosing material defects.

Have other questions? Feel free to call or email us!

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