SELLER F.A.Q.

Why shouldn’t I price my house high to start, since I can always lower the price later?

The first few weeks a house is on the market are the most critical. If a house if over-priced compared to similar houses in the area, real estate agents will most likely not even show it to their clients. As a result, your house will have been on the market for weeks or even months, with little to no activity and certainly no offers. This raises red flags with potential buyers and likely means that you will end up getting a lower offer for your house than you had originally anticipated.

What is a “contingency” in a contract?

A contract typically contains one or more contingencies or stipulations that the sale is subject to. For instance, with a mortgage contingency, if a buyer is unable to obtain financing within a certain timeframe or at a certain interest rate, neither party is required to complete the purchase. Other contingencies might be a termite or other inspection or the buyer’s requirement that they sell their other home first.