Exceptional homes

For initial planning, a budget of roughly 7% to 10% of your sale price is a useful starting point. That can include negotiated real estate compensation, Washington's real estate excise tax, title and escrow charges, and some preparation or buyer concessions. It is not a fixed fee or a guaranteed all-in total: your costs depend on your agreements, your home's condition, and the terms of the sale.

• Illustrative budget for a $1.5 million Seattle-area sale:
• Total brokerage compensation, assuming a negotiated 5% for this example only: $75,000
• State and local REET, assuming a 0.50% local rate: $25,755
• Title, escrow, and other closing charges (budget assumption): $5,000
• Preparation, repairs, or buyer credits (budget assumption): $15,000
• Total illustrative selling expenses: $120,755, about 8.1% of the sale price

The REET calculation above uses Washington's 2023 to 2026 state brackets plus the assumed local rate. The other figures are budgeting examples, not quotes or required charges, and brokerage compensation is fully negotiable.

In this example, $1,379,245 would remain before mortgage payoffs and any additional obligations or adjustments. Your mortgage payoff is separate from the cost of selling, but it directly affects the cash you receive. Before listing, Colin will prepare a seller net sheet so you can compare your expected sale price with your estimated proceeds.

Washington's real estate excise tax, or REET, is a tax on the sale of real estate that sellers generally pay at closing. The total combines a graduated state tax with a local tax, and the state rates apply only to the portion of the price within each bracket, not to the entire sale price at the highest applicable rate. For a typical residential sale closing under the 2023 to 2026 schedule, the state rates are:

• First $525,000: 1.10%
• Above $525,000 through $1,525,000: 1.28%
• Above $1,525,000 through $3,025,000: 2.75%
• Above $3,025,000: 3.00%

Local REET is added separately; Seattle, Bellevue, and Kirkland have a 0.50% local rate under the same schedule.

On a $1.5 million sale with a 0.50% local rate, the first $525,000 at 1.10% is $5,775, the remaining $975,000 at 1.28% is $12,480, and the local tax is $7,500, for a total of $25,755.

Your exact tax depends on the property's location, taxable selling price, closing date, and whether an exemption applies. Colin will include an estimate in your net sheet, and escrow will confirm the amount due.

Real estate commissions are not set by law and vary by brokerage and representation agreement. Colin's compensation reflects the level of experience, service, and hands-on representation he brings to each transaction.

His approach goes beyond listing a property. From comprehensive listing preparation and strategic marketing to buyer engagement, offer evaluation, negotiation, and transaction management, Colin provides hands-on representation throughout the entire selling process.

Before moving forward, sellers receive a clear explanation of the proposed compensation, the services included, and any additional costs or potential contributions toward buyer broker compensation.

In Washington, brokerage compensation is established through written agreements. Sellers determine whether to offer a contribution toward a buyer's broker compensation, and buyers may also request that contribution as part of an offer.

Ultimately, the goal is to understand the full value of the representation, the services being provided, and how the terms of the transaction affect your net proceeds.

Spring is often a strong starting point for a Seattle-area selling strategy, but there is no single best week for every home. Zillow's most recent analysis identified the first half of April as Seattle's strongest historical listing window, while its previous analysis pointed to late March. That variation is a good reason to treat seasonal patterns as guidance, not a guarantee.

For an Eastside home, Colin pairs that broader seasonal pattern with recent sales and competing listings in your specific neighborhood. Your home's condition, local inventory, and your moving timeline should also influence the decision.

Colin's approach is to identify the strongest practical window for your home, not to ask you to wait for a supposedly perfect date. A well-prepared listing and a realistic price remain important regardless of season.

Talk timing with Colin

There are two separate timelines: how long it takes to accept an offer, and how long it takes to close afterward. Mixing those together can make online estimates look contradictory. Even days-on-market figures need a date, location, property type, and a clear definition before they are useful. For planning purposes, allow for:

• Preparation before listing, with the schedule depending on cleaning, repairs, photography, and other work.
• Time on the market, which varies with price, condition, location, and competition.
• The closing period after accepting an offer, often another 30 to 45 days for a financed transaction, although the contract and financing determine the actual schedule.

Rather than promise a citywide number, Colin uses recent comparable listings to estimate a likely range for your home. A Seattle condo and a Bellevue single-family home should not automatically share the same timeline, and pricing above comparable sales can also extend the time it takes to find a buyer.

Focus first on problems that could undermine a buyer's confidence, create inspection concerns, or make the home look poorly maintained. You usually do not need to renovate everything before selling. The right plan depends on your home's condition, your budget, and what comparable homes offer. Items worth evaluating include:

• Active leaks and significant roof, plumbing, electrical, or heating issues.
• Small but noticeable defects, such as damaged fixtures or doors that do not work properly.
• Worn paint, damaged flooring, and other visible condition issues.
• Cleaning, decluttering, and exterior presentation.

Be cautious about starting a full kitchen remodel, luxury bathroom renovation, or other major upgrade solely to sell. Before spending, compare the scope and cost with what buyers are paying for similar homes; in some cases, pricing for the condition or negotiating a credit is more practical than completing the work yourself.

Colin will help separate the work that supports the sale from the work you can reasonably leave to the next owner. A pre-listing inspection may also help identify issues early, but it should be a deliberate decision rather than an automatic expense.

Your asking price should be grounded in recent sales of comparable homes, then considered alongside your home's condition, current competition, and your timeline. Comparable homes should be similar in location, size, quality, and features, and an active listing's asking price is not proof that buyers will pay that amount. Overpricing can:

• Discourage buyers who see better value in competing homes.
• Extend your time on the market.
• Reduce buyers' sense of urgency.
• Lead to price reductions and give buyers more negotiating leverage.

Colin recommends choosing a price supported by the market and agreeing in advance on how you will evaluate the response. If showings and offers do not support the initial price, you can reassess using buyer feedback and updated comparable sales rather than waiting indefinitely.

The goal is not simply to advertise the highest number. It is to attract qualified buyers and negotiate the strongest overall terms the market supports.

See the Eastside market report

Most sellers of existing residential homes in Washington must provide a seller disclosure statement, commonly called Form 17, unless an exemption or legally permitted waiver applies. The form asks about matters such as title, water, sewer or septic systems, structural conditions, systems and fixtures, and environmental issues. Complete it carefully based on your actual knowledge.

Unless otherwise agreed, the statement must be delivered within five business days after mutual acceptance of a written purchase agreement, and Washington law generally gives the buyer three business days after receiving it to rescind, subject to the statute's exceptions and waiver provisions.

Disclosing a problem does not, by itself, mean you must repair it. Disclosure and repair negotiations are separate: the buyer may accept the condition, request repairs or a credit, or exercise a contractual or statutory right to cancel when available. Any repair obligation depends on the applicable agreement and circumstances.

Colin can help you understand the disclosure process, but you should supply the answers yourself. If you are unsure how to address a significant issue or whether an exemption applies, get advice from a Washington real estate attorney rather than guessing.

Request a complimentary home valuation or schedule a home consultation. Colin will review your home, your goals, and the current market, then recommend a strategy, with no obligation.

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