This is a list of 50 questions or circumstances (in no particular order) you might encounter during the marketing and escrow phases of your home’s sale.
1. Am I priced to receive offers? What if there are no offers?
2. What is the list price to sale price in my market?
3. What about comparative pricing in zillow.com?
4. What is the average market time in my market? What about absorption rate?
5. What could happen if the Federal Reserve Board changes the federal funds rate before my house sells? Will this affect buyers?
6. Will there be an appraisal? Should I be here to assist the appraiser? What happens if the appraisal is above the sale price? Below? Who pays for an appraisal? When is it done?
7. What choices do I have when an offer comes in? What if I want to counter something? If something is countered, is the house sold?
8. When can I stop letting people look at the house? What if we already have an offer?
9. How many offers do I have to approve?
10. What is first position? Second position? How many positions are there?
11. How many times can I sell the house? What should I do to make sure it’s only sold once?
12. Does the advertising comply with HUD’s rules? What happens if it doesn’t?
13. Do I have to sell my house if I don’t like an offer? What if it’s a full price offer?
14. What about contingent offers? Should I accept one? If so, when?
15. What is closing? Who determines it?
16. Do I need a real estate sign? Why? Who does it? What about flyers? What info should be included?
17. Who decides on possession? Is this before closing or after?
18. Who represents me? How do I know that? Who represents the buyer? What if an agent says they represent the buyer but appear to be helping me?
19. What’s dual agency? Who decides it? Will it help me? Why or why not?
20. What is the correct legal description? Where do I get it? Is this important? Am I guilty if it’s wrong?
21. Does my house get put in the multiple listing service? Who does this? Who makes sure the info is correct? What if it’s wrong?
22. Will there be photos in the MLS? Who takes them? How do they get entered into the MLS?
23. What’s staging? Is it important? Who does it? Is anyone else doing it?
24. What’s an LPO? What do they do? Why?
25. What do I have to disclose about my house? Are there any rules? Who makes them?
26. Should I do a home inspection? If not, who does it? Who pays for it? Does one have to be done?
27. What information do I have to give a buyer? The appraiser? A building inspector? My Realtor®? Other Realtors®? Lender?
28. Can the buyer use an out-of-state lender? What about an internet lender? Does this matter? Why or why not? Who decides?
29. Who completes the property disclosure? What do I do with it when it’s done? Do I have to do one? Why?
30. What forms will be used for the sales contract? Where do I get them? Should I have an attorney review them? Can my Realtor® interpret the forms? What if there’s a disagreement? How do I know the forms are the correct ones?
31, How many different kinds of financing are there? Which one’s the best? Why?
32. Should I have an open house? Who does it? Should I be there? How do I know something won’t be stolen?
33. Do I need a lockbox? Why or why not? How do they work? Where do I get one? Who pays for it?
34. What’s the best way to get Realtors® to bring buyers to the house? Should I be there when they arrive? Why or why not? What info should I provide?
35. What’s the typical amount of earnest money? What about for my house? Where does it go? Do I get it?
36. How good is a verbal promise? What happens if a buyer doesn’t do what they promised? Should I make any verbal promises?
37. What does the escrow company do? Title company? Who chooses them? Should they be in Kitsap County?
38. When can I make changes to a contract? How do I do it? Can the buyers make changes? Who does this? Do I have to tell the buyers?
39. What’s a “bump notice?” When does it occur? Who does it?
40. Who does the appraiser work for?
41. Do I have to give the buyer copies of past utility bills? Why or why not?
42. If the buyers asks me to pay closing costs, do I have to do it? Do I actually have to give them money? If so, when?
43. Can a buyer ask me for something after the house is sold? What should I do if this happens? Does this happen a lot? Would I need a lawyer if I didn’t want to do anything? What can I do to make sure this doesn’t happen?
44. If I don’t think the buyer will buy the house after the contract has been signed, what do I do? How will I know?
45. Can I give the buyer cash to settle an issue? Will anyone care? How do I do this? Can I do this verbally?
46. What do I have to do to complete the house sale? When is this done? When do I get my money?
47. What do I say if the buyer asks about the crime rate in the neighborhood? What about registered sexual offenders? What about cutting down trees in the neighbor’s yard that are leaning toward my house?
48. Is “splitting the difference” a good negotiating technique?
49. Is it OK for the buyer to assign the contract? Should I care? What if I don’t want this to happen?
50. What’s a notice? Will I get one or give one? How will I know when the buyer gives me one? What do I do if I get one?
