Common Questions

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 COMMON QUESTIONS, Buying or Selling

BUYING a Home – 20 Common Questions & Answers (Washington State)

1. Q: How do I get started buying a home in Washington State?
A: Contact Michelle Wright, your licensed real estate broker. She'll guide you through pre-approval, budgeting, home searches, and offer strategies tailored to your goals.

2. Q: Do I need a pre-approval before house hunting?
A: Yes. Michelle highly recommends obtaining pre-approval from a lender to strengthen your offer and define your price range.

3. Q: How much do I need for a down payment?
A: Typically 3–20% of the purchase price, but Washington offers down payment assistance programs Michelle can connect you with.

4. Q: Who pays the buyer’s agent commission?
A: In WA, commissions are often paid by the seller, though terms are changing. Michelle will review buyer broker agreements and clarify your options under new NWMLS policies.

5. Q: How competitive is the WA market right now?
A: Markets vary by region. Michelle will provide hyperlocal insights (e.g., King, Pierce, or Spokane County) to help you act decisively.

6. Q: What’s included in the offer to purchase?
A: The WA Form 21 Residential Purchase and Sale Agreement outlines price, terms, contingencies (inspection, financing), and timelines. Michelle will draft and explain every clause.

7. Q: Do I need a home inspection?
A: It’s highly recommended. WA buyers can include an inspection contingency (Form 35), which Michelle will help you negotiate and schedule.

8. Q: What are earnest money deposits?
A: Typically 1–3% of the offer price, held in escrow as a good-faith deposit. Michelle will explain what happens if a deal falls through.

9. Q: Can I back out after making an offer?
A: Yes, within contingency periods. Michelle will help ensure your rights are protected under the contract and WA laws.

10. Q: What is escrow in Washington?
A: Escrow is a neutral third party that holds funds and facilitates closing. Michelle will coordinate with a reputable escrow company for a smooth transaction.

11. Q: Are there property disclosure requirements in WA?
A: Yes, sellers must complete Form 17 (Seller Disclosure). Michelle will review disclosures with you before you waive contingencies.

12. Q: What if the home has issues after closing?
A: Washington is a "buyer beware" state, but sellers are still liable for misrepresentation. Michelle will help review legal remedies if needed.

13. Q: How long does closing take?
A: Typically 30–45 days from mutual acceptance. Michelle will keep you updated on every milestone.

14. Q: What closing costs should I expect?
A: Around 2–5% of the purchase price. Includes lender fees, escrow, title insurance, and taxes. Michelle will help estimate these early on.

15. Q: Do I need an attorney?
A: Not required in WA, but Michelle can refer you to a real estate attorney if needed.

16. Q: Can I buy a home sight unseen?
A: Yes, especially with Michelle’s virtual tours and local insights, but it carries risks. An inspection becomes even more critical.

17. Q: What is a contingency?
A: A contract clause allowing you to cancel under specific conditions (e.g., failed inspection or financing). Michelle will ensure your interests are protected.

18. Q: Can I buy with an FHA or VA loan?
A: Absolutely. Michelle is experienced in navigating offers with government-backed loans and helping sellers understand their terms.

19. Q: Can I buy a home if I have to sell mine first?
A: Yes, with a contingent offer. Michelle will help time both transactions and coordinate your buy/sell process.

20. Q: Why should I work with Michelle Wright?
A: As a local WA expert and skilled negotiator, Michelle provides full-service guidance, deep market knowledge, and trusted advocacy throughout your home purchase.

🏠 SELLING a Home – 20 Common Questions & Answers (Washington State)

1. Q: What’s the first step in selling my home in WA?
A: Contact Michelle Wright for a professional market analysis (CMA) and a personalized selling plan.

2. Q: How do I price my home correctly?
A: Michelle analyzes comparable sales, current market conditions, and buyer trends to recommend a competitive price.

3. Q: Do I need to disclose everything about my home?
A: Yes. WA sellers must complete Form 17 (Seller Disclosure). Michelle will help you understand what’s required to avoid legal issues.

4. Q: Should I make repairs before listing?
A: It depends. Michelle will advise on cost-effective improvements that boost your home’s appeal and value.

5. Q: How long does it take to sell in Washington State?
A: On average 30–60 days, depending on location and condition. Michelle will provide a tailored timeline for your area.

6. Q: What marketing do you offer?
A: Michelle provides professional photography, staging consultations, MLS exposure, social media, email campaigns, and open houses.

7. Q: What is Form 21?
A: It’s the standard WA Purchase and Sale Agreement. Michelle uses it to structure and negotiate offers on your behalf.

8. Q: What’s the process after I accept an offer?
A: You’ll move through inspection, appraisal, and title review before closing. Michelle keeps all parties on track and handles communication.

9. Q: Can I sell without using an agent?
A: You can, but WA laws are complex. Sellers who go FSBO (For Sale By Owner) risk legal issues and reduced exposure. Michelle protects your interests and maximizes profit.

10. Q: What fees do I pay as a seller?
A: Typically 6–8% of the sale price, including agent commission, escrow, title, and excise tax. Michelle will provide a full estimate.

11. Q: What is WA excise tax?
A: Washington requires sellers to pay real estate excise tax (REET). Rates vary by price and county. Michelle can calculate this for you.

12. Q: Do I need to move out before listing?
A: Not always. Michelle will advise if staging your occupied home is feasible or if a vacant listing would attract better offers.

13. Q: Can I reject offers I don’t like?
A: Yes. Michelle will review offers with you and negotiate terms to align with your goals.

14. Q: What happens if the buyer backs out?
A: If it’s outside contingencies, you may keep earnest money. Michelle will help enforce contract terms and relist quickly if needed.

15. Q: Do I need to be present at closing?
A: No. Washington allows remote signings. Michelle will coordinate with escrow to ensure everything is finalized correctly.

16. Q: Can I sell a home I inherited?
A: Yes. Michelle can guide you through probate, title clearing, and potential tax implications.

17. Q: Should I allow pre-inspections?
A: Pre-inspections can reduce buyer uncertainty. Michelle will discuss pros/cons based on current demand.

18. Q: What if I still have a mortgage?
A: No problem. Your lender will be paid off at closing. Michelle works with escrow to handle this.

19. Q: Can I sell my home as-is?
A: Yes, but buyers may expect a discount. Michelle can still market it effectively and manage disclosures properly.

20. Q: Why choose Michelle Wright to sell my home?
A: Michelle combines deep market knowledge, proven marketing strategies, and a client-first approach to help you sell efficiently and profitably.

Ready for some QUESTIONS about your needs?

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