Real Estate FAQs: Common Questions Answered

Frequently Asked Questions for Debi and Scott:

How long is the listing contract? It depends on the market, typically ranging from 30 to 90 days.

What are the total charges associated with selling my property? Currently in California, the model has been for the seller to pay for both their agent and the agent representing the buyer. While it might seem unusual to have a seller cover costs for both representatives, this has been standard in California real estate for over 33 years. Traditionally, commissions for both agents (seller’s representative and buyer’s representative) average less than 5.0%. In my transactions where I represent the seller, the historical total commissions have been around 4%—2% to me and 2% to the buyer's agent. I often represent both parties, making negotiations smoother when I'm the only broker involved. I enjoy face-to-face offer presentations if all parties are comfortable; otherwise, we can complete digital paperwork and submit offers online. Currently, no one is paying for home staging, as photos can be virtually staged if necessary. If an agent proposes staging your house, be wary—it suggests they aren’t well-versed in modern digital technology! You should also consider an escrow fee, which is roughly $1 per thousand of the sales price, plus a base fee of $350, and miscellaneous costs of $1000 or less. Many of these costs can be write-offs on your taxes if filed correctly as an individual.

If we find the buyer, do we only pay half the fees? No, the entire commission is earned at the successful close of escrow, regardless of whether two brokers or one represents both parties.

How long is a normal transaction selling a property? The typical timeline is 2 to 6 weeks while the home is actively listed in the “for sale” category, allowing potential buyers to view the property. The average offer period is 21-30 days, leading to a total of about 30-60 days from start to finish, assuming the home is priced correctly, shows well, and is easy to schedule appointments for viewing. Slower properties may take double this time.

How long is a normal transaction buying a property? With an official pre-approval letter from the lender, it can take 14-21 days until you receive the keys. FHA and VA loans often require about a week longer. Many agents write offers for 30 days. I am also a mortgage loan officer, so we can help get your solid pre approval right away to add peace of mind to the timeline. 

What “hidden issues” should I know about? The seller's disclosures and your home inspection generally reveal key concerns about the property. If initial reports raise concerns, we can order secondary inspections—for example, roof inspections, mold evaluations, termite assessments, radon tests, etc.

If I am a seller and I change my mind and don’t want to sell, is that ok? In California, sellers cannot cancel a buyer unless the buyer fails to perform per the contract. A seller may be sued in court to enforce the sale.

If I am a buyer and I change my mind and don’t want to buy, is that ok? During the buyer’s protected investigation stage, all deposit money is fully secure and refundable if the buyer cancels. Once the buyer signs off on inspections, disclosures, and investigations, the deposit is locked into escrow and can only be released with mutual consent.

What costs are write-offs? This is a question best directed to your tax professionals.

Is my deposit protected? (buyer question) During the buyer’s protected investigation stage, all deposit money is fully protected and refundable if the buyer cancels. Once a buyer signs off on the inspections, disclosures, and all investigations, the deposit becomes locked into escrow and can only be released on mutual consent.

Is the buyer’s deposit in jeopardy if they don’t perform? (seller question) Not precisely, as the deposit can be awarded to a seller as damages. However, you cannot put a new buyer under contract until the initial buyer’s deposit situation is resolved. In simple terms, it’s often easier to release the original buyer’s deposit, accept a new buyer’s deposit, and move forward with closing the deal. Pursuing a breach of contract can often be more trouble than it’s worth.

When do I get or give keys? Unless a rent-back is negotiated in the contract, you receive keys the day escrow records in your name, often indicated as