It would be nice to live in a perfect world in which a contract was written on a home and everything proceeded according to plan, with no glitches on the way to closing. But you’d better be prepared because stuff happens.

Financing is a huge contingency, and many contracts are written with the contingency date on the financing bumping right on top of the closing date. That means that neither the buyer nor seller may know if the property is going to close until the last minute. A seller could end up paying a mover and then not moving or moving out unnecessarily. A buyer could plan on moving in on the last day of his lease only to have the closing delayed and nowhere to go.

Inspections can result in delays if the repairs required are not completed on time.

The best way to avoid surprises is to write the contract with those possibilities in mind and allow an adequate time for each step to be completed. ANYTHING in a contract can be negotiated so either the seller or buyer can counter any terms written they feel will allow the process to go more smoothly. The key is to write the terms into the contract in the beginning so that the contract doesn’t have to be amended later and run the risk of falling apart.

Why are model homes decorated so beautifully? Why do builders spend so much effort on seemingly minor details? It’s because they know that those details make homes sell. Homeowners can do the same things to make their homes sell faster.

The first thing to think is “clean”. Every surface should be cleaned and stay that way. Grout may have to be professionally steam-cleaned if it is discolored. Walls may have to be repainted if scuff marks and hand prints won’t come off with soap and water. Kitchens and baths should be cleaned to the point they gleam.

The second thing to think is “cleaned out”. Clutter is taboo. Clean it off. Clean it out. If need be, have a garage sale or donate excess items to charity. Kitchen cabinets, vanities, closets, should appear spacious, not crammed full. Box up out of season clothing or seldom used belongings and store them in an attic, with a friend, or in a rented storage unit. Counters and furniture should have a minimum of personal possessions on display. Rule of thumb – most people should pack away 75% of personal items and wall hangings (some people are exceptions) before putting a home on the market. Garages should hold vehicles, maybe bicycles, and not much else. Too many people use the garage as a staging area or storage room and this does NOT help sell a home.

The next thing is “fixed”. If there is something not working or not working properly, fix it. It’s a good idea to pay for a professional home inspection BEFORE putting the home on the market. A home inspection may uncover problems that can be addressed in advance that may make a prospective buyer shy away from making an offer if left undiscovered until later. Minor wood rot, small leaks, torn screens, etc. are easy to repair.

Then think “maintain”. If the air conditioning system hasn’t been serviced recently it may be time to have that done. And always remember to clean filters regularly. Touch up paint as needed. Make sure doors and windows open and close smoothly and without squeaks or groans.

Finally, think “first impressions”. How does the home appear from the outside? If the home or roof needs pressure washing, do it. Maybe the home doesn’t need a full repainting but perhaps the trim and door could look better. Old rusty or pitted doorknobs or door knockers should be replaced. Mailboxes and house numbers should look fresh and shiny.

Lawns should be fertilized and treated for pests. Regular yard maintenance should include trimming plants, edging, mowing and weeding. Plants should not block windows or doors. Flowering annuals can make a huge difference in curb appeal for very little money. And mulch defines areas and adds color.

Of the five senses, everything so far has related to sight. Don’t forget the importance of smell in selling a home. Moldy, stale odors should be addressed at the source. Clean is good but the smell of cleaning products should not dominate. It might be a good idea to hold off on frying fish or other smelly foods for awhile, but there is nothing that beats the smell of fresh-baked cookies.

All these suggestions can make a difference, but if you want an objective opinion on your home, your Realtor can offer good advice. And everyone has a friend who has opinions about everything. This is one time it will come in handy! Prepared properly a resale home can show just as well as a model and be just as appealing.

It doesn’t matter whether you are the buyer or seller, when it comes to contracts. No one wants to pay too much or accept too little. No one wants to be taken advantage of. Everyone wants to win.

A good contract is a balancing act between price and terms. Written well, there are things in the contract to benefit both sides. So why would someone write a contract that appears lopsided?

Let’s start with terms. One of the most common terms is the financing contingency. Unless the buyer is offering all cash, there is usually a financing contingency. But unless the terms of the contingency are spelled out, the seller is left wondering just what kind of loan the buyer is going for and if they have a snowball’s chance of getting it.

So a good financing contingency will spell out the details of what the buyer is attempting to do: amount of the mortgage, type of financing, down payment, etc. If a buyer fails to be approved for the financing spelled out, he has the ability to “walk” from the contract and all deposits are returned to him. Being pre-approved for a mortgage gives the buyer the ability to have a shorter mortgage approval date and therefore provide more security for the seller.

But that binder deposit is the only assurance that the seller has of the buyer’s good faith. So the larger the deposit, the more assurance the seller has of the buyer’s intent.

How soon is the closing date? A typical closing might be 30-45 days from the date of acceptance of the contract. However, this is negotiable. A faster closing might make the seller happy to have cash in hand. Longer closings will usually require some concession or a larger down payment to assure the seller that the property will close as scheduled.

Inspection clauses are built into the typical contract and are written to be fair to both sides. Changing those terms or timelines can tilt the favor to one side and make the contract less likely to be accepted.

In most states, written verbiage in a contract supersedes the typewritten. So be careful not to negate a portion of the typed contract by writing in unnecessary notes.

Finally, we get to price. If you are the buyer, how much to you offer? If you are working with a Realtor, that person should provide you with information regarding recent sales and market trends.

For example, if most homes in an area are priced very similarly for quality and other factors, then they should have similar market values. If those homes have sold for approximately 5% off list price and this home is listed realistically, then the seller will have the expectation of something around the same number.

A buyer who wants to test the seller may come in a bit lower, but too much lower and the result is an insulted seller who won’t take the contract seriously.

The reverse is true as well. The seller who refuses to budge on anything runs the risk of offending the buyer, who probably has a second choice lined up and may just move on.

No one intentionally writes a “bad” contract. Mis-information or advice is more common. But in real estate contracts are about “homes”. The seller is emotionally attached and the buyer is becoming attached as well. So both parties need to recognize that there is more going on than just business. A well-written contract with reasonable price and terms is likely to be negotiated and accepted. When that happens, both buyer and seller win.

Guess what? A contract is a legal document and everything pertinent needs to be spelled out and in writing. That’s it.

Nothing more complicated than that.
Unfortunately, too many agents and customers “assume” that the contract means this, that, or the other, when, in fact, it says something different.

Duh! Dates and deadlines are real and have consequences. Exceptions to those deadlines have to be agreed upon and in writing if something changes.

I see more contracts fall apart or end up in a dispute because someone thought that something would be okay because it was okay in another situation. Well, it probably wasn’t okay then either but they didn’t get caught.

Help on contracts for agents or customers is a phone call away. Don’t write or agree to something if it isn’t clearly spelled out. And for heavens sake, don’t assume!