The questions people actually ask

Since August 17, 2024 I have to have a written buyer agreement with you before I can tour a home with you. That agreement spells out what I am paid and by whom, before we look at anything. Broker fees are fully negotiable and not set by law. Sellers can still cover some or all of it, usually through a concession, but offers of compensation are no longer published on the MLS, so I ask on each individual property and tell you the answer before you write.

The combined city and state realty transfer tax is 4.578% as of July 2025, which is among the highest in the country. It is split between buyer and seller by local custom rather than by law, so it is negotiable. On top of that: commission, your mortgage payoff, the $139 Property Sales Certification, and any credits you agree to at inspection. I build all of it into a net sheet before you list, so the number you see is the number you keep.

Pennsylvania law requires one to sell any property in Philadelphia. It runs $139 and takes about five business days. It discloses the property's zoning, its last established use, and any uncorrected housing, building, safety, or fire violations. Order it early. Finding an open violation the week of closing is how settlements get pushed.

An abatement transfers with the property, so what matters is how many years are left, not that it exists. Buyers routinely budget off the abated payment and get surprised when it burns off. The rules have also changed for newer residential construction, so the answer depends on the specific property and when it was approved. I pull the actual remaining term before you write.

Your bill is the county, municipal and school district rates applied to the county's assessed value, which is not the same as market value. School taxes are usually the biggest piece, which is why two similar houses in neighbouring townships can differ by hundreds a month. I pull the actual current bill on a property before you write, rather than trusting a listing estimate.

Agreement of sale, then your inspection period, then mortgage commitment, appraisal, title work, final walkthrough and settlement. Pennsylvania has no attorney review window the way some states do, so the contract binds when both sides sign. That makes the terms you write the first time matter more than people expect.

No. Conventional loans go as low as 3% for qualified buyers, FHA is 3.5%, and VA is zero down. Pennsylvania and the city both run first-time buyer assistance programs. A bigger down payment lowers your monthly payment, but it is not a gate on buying. Talk to a lender before you decide what you can afford, and I will introduce you to a couple if you need one.

I own rental property, so I will run it both ways instead of steering you toward the transaction that pays me. Sale net after transfer tax and commission, against current rent, expenses, and what the property is likely to appreciate. Sometimes the answer is keep it, and I will tell you that.

Yes, and in the same terms you use: ARV, rehab per square foot, DSCR coverage, cap rate, cash-on-cash. We underwrite before we tour. If a deal does not clear your return on paper, we do not spend a Saturday on it.

Yes. Both are a standing part of my week rather than something I do when business is slow. For sellers whose listing expired, the first conversation is usually about why it did not sell, and the answer is almost always price, photos, or access.

It depends on the block and the price band, not on a citywide average. Ask me and I will pull current days on market for comparable homes near you. What I can tell you generally: the first week of traffic decides most listings, and a price drop three weeks in costs more than pricing it right on day one.

Philadelphia, the Main Line, and Delaware, Montgomery, Bucks and Chester counties. I am licensed in Pennsylvania only. If you need someone outside that, tell me what you are looking for and I will refer you to an agent I would use myself.