Karen Burkardt

Yes, earnest money is a good-faith deposit, but what happens to it depends on whether the deal closes and on the terms of the contract. If the transaction goes through, the earnest money is usually applied toward your closing costs or down payment at settlement. If the deal falls apart for a reason allowed in your contract (for example, inspection issues or financing not coming through under a contingency), you typically get your earnest money back. If you back out of the deal without a valid contractual reason, the seller may keep the earnest money.

No, once you've closed on the home and taken possession, the seller is generally not responsible for repairs or replacements unless the purchase contract specifically stated that the system had to be in working order or the seller knowingly failed to disclose a defect. If the HVAC system was working (or at least not disclosed as defective) at the time of inspection and closing, the responsibility usually shifts to the buyer after closing. This is why inspections and home warranties are important, because they help uncover or protect against large expenses like this.

You do not pay sales tax when you buy a home. Real estate is not subject to sales tax the way goods or vehicles are. Instead, when you purchase a home you typically pay closing costs, which can include items like lender fees, title insurance, escrow fees, and recording fees. The main ongoing tax you'll be responsible for is property tax, which is assessed by your county or city based on the value of the home. For a $70,000 property, the annual property tax depends entirely on the local tax rate where the home is located, which can range from under 1% to over 2% of the assessed value per year. For example, if the local rate is 1.2%, your yearly property tax would be about $840.

If your boyfriend signed a quitclaim deed giving up his ownership interest, then he no longer has rights to the property or proceeds from its sale. That means the home is legally yours, and he would not be entitled to money when you sell. However, because he is still on the loan, the lender still views him as financially responsible for the mortgage until it's paid off, refinanced, or the home is sold. When you go to sell, only the deed owner(s) need to sign to transfer title, so you would be the one signing as the seller. The loan will be paid off at closing from the sale proceeds, which removes both you and him from that debt. Recommendation: Verify the recorded deed to confirm you are the sole owner. Next step: Speak with your title company or a real estate attorney before listing, to ensure there are no lingering ownership claims or title issues.

Yes, you can sell a commercial building in Kansas with seller financing, but you need to structure it correctly. You can choose to charge interest however you want, but it must be written into a legally binding promissory note and secured by a mortgage or deed of trust on the property. What you describeaEUR"a " one-timeaEUR? simple interest charge at 10% with fixed monthly payments over 120 monthsaEUR"isn't typical and could be challenged if it isn't clearly spelled out, since most seller-financed deals use amortization or standard interest accrual. As long as both parties agree in writing, it can be done, but you must comply with Kansas usury laws (which generally allow higher interest on commercial transactions than on consumer loans) and federal disclosure requirements. Recommendation: Have a real estate attorney draft the promissory note and mortgage documents to make sure your structure is enforceable. Next step: Confirm with a Kansas attorney or title company that your proposed terms comply with state usury and financing laws before moving forward.

In Arizona, once the inspection period has passed and you've already negotiated repairs or credits, you generally cannot go back and reopen repair requests unless the seller agrees. The inspection period is the buyer's window to investigate the property and either request repairs, negotiate credits, or cancel. After that period ends, you are bound by the purchase contract as written. That said, nothing prevents you from asking the seller for additional repairs or concessions, but they are under no obligation to agree. If the issues you're concerned about are serious and were disclosed in the inspection, you would have had to address them during the inspection period. Recommendation: Talk with your REALTORA(R) about approaching the seller to see if they'll negotiate further, but be prepared that they can say no. Next step: Review the purchase contract and inspection report with your REALTORA(R) to see if any contractual protections still apply.

It isn't rude to go to an open house just to browse, as long as you're respectful. Open houses are open to the public, and agents know not everyone who comes through the door will be a serious buyer. Many people attend just to get design ideas, compare homes in the area, or think about future plans. The reason some agents may seem frustrated is that their main goal at an open house is to meet potential buyers and sellers, so when they realize a visitor isn't in the market, they may feel their time isn't leading to new business. That's not about you being rude, it's just the reality of their job. Recommendation: If you like browsing, keep doing itaEUR"just be upfront and courteous with the agent. Next step: When you attend, you can simply say you're a neighbor looking for ideas. Most agents will appreciate your honesty and still welcome you.

A private listing can be useful in some cases, but it comes with tradeoffs. Pros: You keep more control and privacy, since fewer people know your home is for sale. You may avoid the hassle of frequent showings, and sometimes private listings appeal to buyers looking for exclusivity. You also might be able to quietly test pricing without committing to a full market launch. Cons: Private listings reach fewer buyers, which usually means less competition and potentially a lower sale price. Without broad exposure, you lose the bidding environment that can drive offers higher. Many buyers and agents don't actively search private channels, so your pool of interested parties will be much smaller. If your goal is top dollar, less visibility typically works against you. Recommendation: Decide whether your priority is privacy and convenience or maximum sale price. Next step: Ask your REALTORA(R) to compare recent private vs. MLS sales in your area to see the potential impact on your net proceeds.