Real estate questions, answered.

Since August 2024, agents across the country have to have a written agreement with a buyer before touring homes together. That came out of the national Realtor settlement.

The agreement spells out what your agent will do for you and how they'll be paid. Read it, ask questions, and know that the length and the pay are negotiable. A good agent will walk you through every line without rushing you.

Dave Petkovsek · Link to this answer

Plan for two things: your down payment and your closing costs. Down payments run from as little as 0% to 3.5% on some loan programs up to 20% or more on others. Closing costs often land somewhere around 2% to 5% of the price, depending on the loan and the deal.

Then keep a cushion after closing. Talk to a local lender first. A 20-minute conversation with a good loan officer will tell you more than any calculator.

Dave Petkovsek · Link to this answer

Yes. New homes have problems too: missed insulation, roof and flashing issues, plumbing and electrical items. The builder's own inspections aren't working for you.

I like a pre-drywall inspection if you can get one, and a final inspection before your walk-through. It's a few hundred dollars well spent, and it gives you a punch list while the builder still has the crews on site.

Dave Petkovsek · Link to this answer

A lot more than most buyers expect. Insurance, and flood insurance if the lender requires it, goes into your monthly payment right next to the mortgage and taxes.

Get insurance quotes on a specific house during your inspection period, not after. Ask about the flood zone, the roof's age, and whether the home has a wind mitigation report. Two houses at the same price can have very different monthly costs.

Dave Petkovsek · Link to this answer

Nobody can promise you where rates go next. What I watch is the payment you can live with today and how long you plan to stay.

If the payment works and you'll be there for years, waiting for a lower rate can cost you more if prices or competition pick up. If rates drop later, refinancing may be an option. Check the live rates and local numbers on my Market Desk, then talk to a lender about your own numbers.

Dave Petkovsek · Link to this answer

Start with what actually sold near you, not what's listed. Listings are wishes; sales are facts. You can see recent sales around your address on my "What did my neighbors' homes sell for?" page.

Then adjust for your home's condition, updates, lot and location, and for what's under contract right now. That's where a local agent earns their keep. Price it right the first time. Chasing the market down a cut at a time costs more than it saves.

Dave Petkovsek · Link to this answer

Fix what buyers will flag right away: leaks, roof issues, anything with safety or insurance written on it. Those scare buyers and can kill financing.

Cosmetic projects are a judgment call. Paint, cleaning and decluttering almost always pay off. A full kitchen remodel right before you sell usually doesn't. Selling as-is is fine too; just price it for its condition so buyers see the value.

Dave Petkovsek · Link to this answer

The big pieces are real estate commission (negotiable), documentary stamp tax on the deed (in most of Florida, 70 cents per $100 of the price, usually paid by the seller), title and closing fees, your share of this year's property taxes, and paying off any mortgage.

On a typical resale home in our area, the seller usually pays for the buyer's owner's title insurance policy. When a builder or a bank (an REO) is selling, the buyer often pays for title instead, though the seller sometimes gives a credit to help offset it. Like most things, it's negotiable. Ask your title company for an estimated closing statement before you list so there are no surprises.

Dave Petkovsek · Link to this answer

Usually one of three things: price, condition or exposure. If you're getting showings but no offers, it's price or condition. If you're not getting showings, it's price or marketing.

Look at what sold around you while you sat, and what buyers chose instead. In September, homes in Flagler and Volusia averaged about 81 days to sell, so compare your days on market to that.

Dave Petkovsek · Link to this answer

Don't turn it down just because it came first. The first buyer is often the most motivated one, because they've been waiting for a house like yours.

Judge the whole offer, not just the price: financing, deposit, inspection period, closing date and contingencies. A clean offer at a slightly lower price can be worth more than a high one that falls apart.

Dave Petkovsek · Link to this answer

Not necessarily. Florida's homestead portability lets you carry much of your Save Our Homes savings to a new Florida homestead, up to $500,000 of it, if you establish the new homestead in time (generally within about three years).

The rules have details and deadlines, so call the property appraiser in the county where you're buying and ask about portability before you close. It can be worth thousands of dollars a year.

Dave Petkovsek · Link to this answer

Dates. Agents miss or miscount deadlines for the deposit, the inspection period, loan approval and closing, and then the deal gets messy.

Put every deadline on your calendar the day the contract is effective, and confirm the effective date in writing with the other agent. I teach the contract for Florida Realtors, and dates come up in every class.

Dave Petkovsek · Link to this answer

During the inspection period the buyer can cancel for any reason, in their sole discretion, and get the deposit back, as long as the notice goes out in time and the right way. If the blank is left empty, the form fills in a default period.

Once that period ends, the buyer's easy way out is gone, and the deposit is at risk if they back out without another contract right to rely on. Read the paragraph with your buyer before they sign, not after.

Dave Petkovsek · Link to this answer

First, check what the contract says about appraisals; that sets everyone's options. Then you have four levers: the seller lowers the price, the buyer brings more cash, they split the gap, or someone challenges the appraisal with better comparable sales.

If you challenge it, send the lender real closed sales the appraiser may have missed, not opinions. Keep everyone calm. Most low appraisals get worked out when both agents stay on the same side of the problem.

Dave Petkovsek · Link to this answer

Tell them to slow down and look at the contract with you before they send anything. Is there another contingency still open, like financing or appraisal? Those are different paths with their own deadlines.

If there's no contract right left, the deposit may be at risk, and that's when your buyer should talk to a real estate attorney. Don't give legal advice; give them the facts and the referral.

Dave Petkovsek · Link to this answer

Start with accurate BPOs. Asset managers and valuation companies notice agents who turn them in on time with good comparable sales and honest photos.

Get set up on the platforms they use, keep your license and errors-and-omissions insurance current, and be ready for the unglamorous parts: occupancy checks, rekeys, trash-outs and a lot of reporting. I've closed more than 1,000 bank-owned homes, and it's a service business first.

Dave Petkovsek · Link to this answer

Talk early and often. Send a loan status update at each milestone, especially the appraisal and loan approval, and before any contract deadline, not on the day it hits.

Most late closings I see come from surprises: a condo questionnaire, an insurance quote, a repair the appraiser called. Get those moving in week one.

Dave Petkovsek · Link to this answer

Set expectations at pre-approval. A buyer who knows up front that they may need extra cash for a gap makes a stronger offer and a calmer deal.

On the listing side, I like agents to give the appraiser a short, factual package: recent comparable sales, upgrades with dates, and anything unusual about the home. It isn't pressure; it's information the appraiser may not have.

Dave Petkovsek · Link to this answer

Truly comparable sales: same area, same type, similar age and size, and recent. In Palm Coast that means watching the section and the street, not just the ZIP code. Then honest photos and an honest condition report.

Explain your adjustments in plain words, and call out anything that changes value, like a flood zone, a roof age, or new construction nearby competing on price with rate buydowns.

Dave Petkovsek · Link to this answer

It depends mostly on condition and price. Across all homes in Flagler and Volusia, September's average was about 81 days to sell, and REO that's priced right and presentable can move faster than that.

Distressed homes that need work take longer and sell to a smaller pool of cash and rehab buyers. The best predictor is the first two weeks: showings and feedback tell you quickly whether the price is right.

Dave Petkovsek · Link to this answer

Right away: an occupancy check, securing the property, photos and a condition report, and any utilities or code issues flagged. Then a broker price opinion with a marketing plan, followed by trash-out, rekey and any approved repairs through vendors we trust.

From there it's listing, marketing and reporting on your schedule and your platform, through closing. I've handled bank-owned property here since the 2008 cycle across Flagler, Volusia, St. Johns and Putnam.

Dave Petkovsek · Link to this answer

It can be, if you buy on numbers instead of hope. Run rent minus taxes, insurance, HOA, maintenance, vacancy and management, then see what's left. Insurance is the line people underestimate most.

Talk to a local property manager before you buy. They'll tell you what the house will actually rent for and how fast. It's free advice that can save you from an expensive mistake.

Dave Petkovsek · Link to this answer

A short sale is the owner selling for less than they owe, with the lender's approval. The owner still owns it, so the timeline depends on the lender's approval and can take a while. A foreclosure (bank-owned, or REO) is already owned by the lender, so the process is usually more predictable.

Both are often sold as-is. Get inspections, check for liens and code issues with your title company, and price in the repairs.

Dave Petkovsek · Link to this answer

I'm a licensed Florida title agent and a co-owner of Ocean Blue Title. If a client of ours closes there, that's a business relationship we disclose in writing.

Every buyer and seller has the right to choose their own title company, and we'll work with whoever they pick. What matters most is a title team that communicates and closes on time.

Dave Petkovsek · Link to this answer