FSBO Expert

  A home inspection contingency is one of the most common provisions found in residential real estate contracts. For FSBO sellers and homeowners using flat fee MLS services, understanding how inspection contingencies work is essential because they can significantly affect negotiations, timelines, and the likelihood of reaching a successful closing. While inspections can feel stressful, they are a standard part of many real estate transactions and often provide an opportunity for both parties to address concerns before closing. What Is a Home Inspection Contingency? A home inspection contingency gives the buyer the right to have the property professionally inspected after the purchase agreement is signed. The contingency typically allows the buyer to: Evaluate the home's condition Identify potential defects Request repairs or credits Renegotiate certain terms Cancel the contract under specified conditions The exact rights and timelines depend on the purchase agreement an...

  Earnest money is an important part of most real estate transactions. When selling your own home as a FSBO seller or through a flat fee MLS listing, understanding how earnest money works can help you evaluate offers, manage risk, and move through the transaction more confidently. While earnest money is often referred to as a "good faith deposit," it plays a much larger role in the purchase contract and can affect what happens if the transaction encounters problems before closing. What Is Earnest Money? Earnest money is a deposit made by the buyer after a purchase agreement is accepted. The purpose of the deposit is to: Demonstrate the buyer's commitment to the purchase Show financial seriousness Provide a level of protection for the seller The earnest money amount is typically outlined in the purchase contract and submitted shortly after both parties sign the agreement. Where Earnest Money Is Held The deposit is usually held by a neutral third party during th...

  When selling a home, disclosure requirements are an important part of the transaction. Sellers are generally required to provide buyers with information about known issues that could affect the property's value, safety, or desirability. These disclosures help buyers make informed decisions and can reduce the risk of disputes after closing. For FSBO sellers and homeowners using flat fee MLS services, understanding disclosure obligations is especially important because there is often no listing agent managing the process. What Is a Seller Disclosure? A seller disclosure is a document that informs potential buyers about known material facts regarding the property. A material fact is typically something that: Affects the property's value Impacts safety or habitability Could influence a buyer's decision to purchase Disclosure laws vary by state, but the general principle is the same: sellers should disclose known issues honestly and accurately. Common Property Condi...