Financial
Real estate: the fine print of the Regional Contract
Choosing a buyer’s agent isn’t just about finding someone who knows the neighborhood, can commit to the time necessary to helping you find your perfect place and can get you to settlement smoothly — it’s also about finding someone with the smarts and detail-oriented know how to help you navigate the plethora of legal forms that you’ll sign binding you to the house you’ll eventually buy.
Most agents are not lawyers, and therefore are not allowed to practice law. But since most buyers don’t meet a lawyer involved in their transaction until settlement, the agents are their primary guide to understanding the impact of what they sign.
For sellers, too, an agent must also be savvy with the ins and outs of the contracts. For buyers and sellers alike, having an intelligent agent who knows the fine print of the standard contracts can give them a huge advantage in the transaction. Most agents use the Regional Sales Contract in the D.C., Maryland and Virginia area around Washington, and there are a number of unexpected surprises contained in those forms, so as a buyer or seller, it helps if you know a few of them too:
1. The contingency expiration date that never comes
Buyers count on contingencies to protect them in the event they find something out during the process that changes their ability or desire to buy the property. Sellers count on those contingencies ending at some point so they can have confidence they’ll actually get to settlement.
Two big contingencies, the financing and the appraisal contingencies, have expiration dates that can come and go, but still remain in effect, even all the way until settlement. The financing contingency does not expire until the seller gives notice (an official signed document pertaining to the transaction) that the deadline has expired. But if the buyer doesn’t remove the contingency within three days of receiving this notice, the contract dies.
The language is worded thus to protect the buyer, obviously. Unfortunately, the effect this generally has is that sellers are so scared to deliver the notice (and therefore risk the contract dying) that they don’t do so, and then the contingency deadline loses all meaning since it goes on indefinitely. Often, sellers don’t even know they have to give notice, especially if they are working with an agent who may not know the contract so well, and think they can take the earnest money deposit (often tens of thousands of dollars) if the buyer doesn’t qualify for the loan after the expiration, only to find out they can take nothing.
Similarly, the appraisal contingency deadline can also come, go, and still remain in effect if the seller does not give notice of that deadline’s expiration. The difference is that if the buyer doesn’t respond in three days, that contingency expires, but the contract survives. Therefore, every good seller’s agent should deliver notice immediately upon expiration of that contingency to ensure the seller is duly protected. Most other contingencies in the standard Regional Sales Contract expire upon their expiration date.
2. The attachments that don’t convey
Most buyers and sellers who have some experience in the market know that attached fixtures (elements of the house or decor that are physically attached to the property in a relatively permanent way) convey, or come with, the property without express written agreement. So the sofa goes, the light fixtures stay; the lamps go but the mantelpiece stays — unless agreed to otherwise in writing.
What about blinds, curtain rods, built-in refrigerators, and, most importantly as of late, wall-mounted flat-screen televisions? Well, good agents know that to ensure there is no dispute down the road, any ambiguous items should be identified and agreed upon in writing. But good agents know that some of these items are already excluded by default in the regional sales contract. For example, mounted televisions and speakers that extend outside the wall or ceiling do not convey unless otherwise agreed upon. Since they are affixed to the wall, many buyers and their agents assume they count as fixtures and will convey automatically. The contract says otherwise, so beware!
3. When digital signatures don’t count
Digital signatures are being used more and more frequently these days, and it’s understandable. In our area, a normal contract usually is more than 25 pages long, and sometimes it’s more than 50! Printing and faxing or e-mailing these docs back and forth has become a huge burden, even as internet speeds improve, so being able to enter a password and click to place your signature in a document on your desktop saves a lot of time and toner.
However, many agents who use digital signatures don’t get a digital signatures authorization form signed from the beginning that allows for digital signatures to be interpreted as valid in a legal sense. Without that one form signed, by hand, the entire contract could be considered invalid. The day of settlement, the buyer could simply walk away. Similarly, a contract originally agreed to in writing but then signed in subsequent parts digitally could be considered valid only until the subsequent parts that weren’t signed by hand. In that sense, if a buyer makes certain demands under the home inspection contingency but submits notice with a digital signature without an agreement to sign in such a way, they have effectively not given notice by the deadline and may lose all the rights to make such demands once the deadline expires.
4. Never leave the blank blank
In the regional sales contract, there are hundreds of blank fields that agents fill in to get the deal done. Many of them simply don’t apply to the transaction; condo language doesn’t apply when you’re buying a single family home, and language that clarifies how a mortgage is to be assumed almost never pertains to transactions these days. But if a blank is left blank in an active and applicable section of the contract, rather than crossed through or filled in with “N/A,” it may eventually come back and bite you, whether you’re a buyer or a seller. For example, says Jason Sherman of Paragon Title Company, in a condominium transfer where there is no special assessment as of the contract date, but one comes up before settlement, there is no clear indication of who will pay it unless the agents fill in one of two options on the condominium addendum. When there’s no assessment it’s almost always left blank, but if an assessment comes in mid-stream there will be problems.
These are just a few of the more common errors I see practiced by inexperienced agents, or misunderstood by most buyers and sellers. But of course there are many more pitfalls that can sneak up on you. That’s why your choice in your Realtor shouldn’t just be based on whether he or she can make small talk at a cocktail party or has a nice advertisement. It should hinge on your confidence that they can handle the tricky — and often costly — intricacies of the legal documents you sign too.
David Bediz is a Realtor at Coldwell Banker Residential Brokerage and part of the Dwight and David Real Estate Group. He can be reached at 202 352 8456 or through www.DwightandDavid.com. He is not a lawyer and none of this article shall be construed as legal advice.
Real Estate
The financial realities facing LGBTQ+ first-time buyers
Beyond affordability: credit, support systems, and trust
For many first-time buyers, the conversation starts with affordability: home prices, interest rates, monthly payments, and the down payment. Yet these initial figures represent only part of the picture. For LGBTQ+ first-time buyers, credit history, access to financial support, household structure, and whether the professionals involved feel trustworthy can also shape the path to homeownership. While these hurdles affect various demographics and show up differently for everyone, they often create friction long before an offer is submitted.
Affordability Is Only the First Filter
A buyer may be able to handle a monthly mortgage payment and still struggle to qualify for the loan they expected. Loan approval hinges on a holistic review that goes far beyond basic income. Lenders generally consider credit history, debt obligations, available cash, employment and income documentation, and the buyer’s overall financial profile. That distinction matters for first-time buyers who have spent years paying rent successfully but have a limited credit file, uneven credit history, student loan balances, or other debt. Even renters with flawless track records of managing monthly payments can run into unexpected hurdles when a lender applies standard underwriting criteria. Early preparation can help. By auditing credit reports, resolving discrepancies, tackling existing debt, accumulating savings, and engaging early with a certified loan officer, buyers can catch and fix vulnerabilities before they derail a deal.
Support Systems Can Change What Is Possible
Homebuying advice often assumes that first-time buyers have access to a familiar financial safety net: parents who can help with a down payment, relatives who can provide a gift, or family members who can explain the process because they have purchased homes before. That support is not universal. Some LGBTQ+ buyers have strong financial and emotional support from their families of origin. Others turn to partners, close friends, trusted mentors, or chosen family for backing, while some navigate the entire venture independently. The important point is not to assume what a buyer’s support system looks like. The difference can be practical. When family assistance isn’t an option, buyers often need more time to build reserves. They may rely heavily on down-payment assistance programs or specialized loan options offered by their lender. A buyer receiving gift funds may need to understand documentation requirements before using those funds. Support also includes knowledge. Those raised around property owners often enter the process with a baseline understanding of key mechanics like earnest money, home inspections, appraisals, closing fees, and mortgage terminology. A first-generation buyer may be learning it all at once. Lacking that foundational awareness can lead to costly mistakes surrounding critical deadlines, hidden fees, and contractual obligations.
Household Structure Deserves Careful Planning
LGBTQ+ buyers may purchase alone, with a spouse, with an unmarried partner, or in another shared household arrangement. These varying arrangements change the game for mortgage applications, combined credit assessments, titling methods, and the division of ongoing home equity. Those decisions deserve deliberate attention. Because two co-buyers may have vastly different credit standings, putting both names on a mortgage application isn’t always the best route. Mortgage responsibility and legal ownership are related, but not identical. A first-time buyer should be able to ask these questions without feeling awkward about explaining a relationship, correcting assumptions, or wondering whether a professional understands the household in front of them. If legal or tax complications surface, buyers should seek tailored advice from an independent professional.
Trust Is a Financial Issue, Too
Trust can sound like a “soft” consideration compared with a credit score or closing-cost estimate. In reality, it directly shapes strategic financial choices at every stage of the transaction. A buyer who doesn’t feel comfortable with an agent or lender may hesitate to disclose concerns, ask basic questions, or admit they don’t understand a term. They might hold back on detailing how they plan to co-own a home with a partner, or unquestioningly agree to costs without fully grasping the long-term impact. That is a poor foundation for a major financial commitment. First-time buyers need professionals who explain the process clearly, respect the buyer’s household and identity, and make room for questions without judgment. High-level skill and deep market knowledge remain essential, but clear communication and accountability are equally vital. Buyers should understand who each professional represents, what that professional is responsible for, and when outside legal, tax, insurance, or financial advice may be appropriate.
A Better First Step Is Better Information
The financial realities of buying a first home extend well beyond the list price. A buyer’s credit profile determines loan availability, while their support network dictates their financial wiggle room and access to guidance. Household structure can affect borrowing and ownership decisions. Ultimately, trust is what empowers a buyer to speak up, ask tough questions, and safeguard their financial well-being. For LGBTQ+ buyers, an affirming experience should not replace professional expertise. True support requires both identity-affirming care and top-tier professional guidance working in tandem. Pride Real Estate Connections was built from lived experience with exclusion in real estate and connects LGBTQ+ buyers, sellers, families, and allies with independent real estate professionals through its referral network. The goal is simple: connect clients with vetted agents and lenders who offer unconditional respect, deep expertise, and a space where no one has to minimize who they are. Buying a first home is already complex. Buyers deserve the clarity to focus on core choices: managing their budget, structuring ownership, navigating tradeoffs, and relying on advisors who truly have their back. Pride REC is a referral and connection platform, not a brokerage, and independent real estate professionals provide their own services. Buyers must execute their own due diligence and partner with accredited legal, tax, and lending specialists tailored to their unique needs.
Devin Schaff is co-founder of Pride Real Estate Connections.
Real Estate
Factors to consider when hiring an interior designer
It’s essential to have confidence in the professionals you engage
(StatePoint) Ready to redesign your home? Whether you have only a vague notion of how you want your spaces to look or a very specific vision, relying on the expertise of a professional can help you bring your dream home to life. Before choosing and hiring an interior designer, though, be sure to take the following factors into consideration:
Style: Identify your style. Is it boho chic? Industrial? Maximalist? Many designers have their own signature look and preferences. It’s best to understand what vibe you want first, then search for a designer who aligns with that style.
Past client projects: One of the best ways to know whether a particular designer is the right fit for you is to review their past client projects. Ask to see their portfolio or review their finished projects on their website or socials. Also, take a look at reviews and testimonials to ensure their previous customers walked away satisfied with a job well done.
Budget: Communicate your budget in advance of work to confirm that you and your designer are on the same page financially. Your decorator will need this ballpark figure to get a handle on the scope of the project and to make design decisions accordingly. You should also use this conversation to understand their rates so you can decide whether you want to move forward.
Preferred vendors: It’s important that the interior designer you choose has preferred vendors that they work with. These are partners they’ve built strong relationships with that provide the same first-rate experience they do, and have streamlined processes in place. “A home renovation has so many moving parts. That’s why we try to take the hassle out of the process for designers and homeowners alike,” says Katie Zess, senior marketing manager and director of Renewal by Andersen’s Interior Designer Loyalty Program.
Through the loyalty program, the full-service window and door replacement division of Andersen Corporation offers their program members exclusive access and rewards, including a “designer discount” they can share with their clients. Renewal by Andersen also offers designers a dedicated point of contact to ensure a smooth process that’s customized for your project from start to finish. To learn more, visit renewalbyandersen.com.
Before you begin your home renovation, it’s essential to have confidence in the professionals you hire. Be sure your interior designer has fostered partnerships that will streamline your redesign, and that their goals and budget aligns with yours.
Real Estate
The LGBTQ real estate map is being redrawn
Affordability, higher mortgage rates reshaping where we choose to call home
For decades, the map of LGBTQ+ America was relatively easy to recognize.
New York. San Francisco. Los Angeles. Palm Springs. Provincetown. Fort Lauderdale and Wilton Manors.
These communities became LGBTQ+ destinations because they offered something that wasn’t always easy to find elsewhere: visibility, acceptance, community and the freedom to live openly.
But that map is changing.
Today’s LGBTQ+ homebuyers are navigating a housing market defined by high prices, elevated mortgage rates and affordability challenges. At the same time, remote and hybrid work, retirement and the growth of LGBTQ+ communities beyond traditional destinations are giving buyers more choices about where to live.
Increasingly, the question isn’t simply, “Where are the most LGBTQ-friendly places to live?”
It’s also: “Where can I find community and afford the life I want?”
That shift may become one of the defining LGBTQ+ real estate trends of the coming decade.
Affordability Is Changing the Conversation
For many buyers, the biggest issue in today’s housing market is simple: the monthly payment.
The average 30-year fixed mortgage rate was 6.95% in mid-September, compared with 6.26% a year earlier, according to Freddie Mac.
Meanwhile, the median price of an existing U.S. home reached $429,100 in August, according to the National Association of Realtors.
The combination of elevated home prices and higher borrowing costs has changed what many Americans can afford—and where they can afford it.
Some buyers are purchasing smaller homes or condominiums. Others are moving farther from major urban centers. Still others are reconsidering expensive markets entirely.
For LGBTQ+ buyers, this is helping broaden the definition of an LGBTQ+-friendly place to call home.
LGBTQ+ Buyers Have More Choices
A generation ago, relocating away from a major city or established gay neighborhood could sometimes mean sacrificing access to a visible LGBTQ+ community.
That’s increasingly less true.
Traditional LGBTQ+ destinations such as Palm Springs, Fort Lauderdale and Wilton Manors, San Francisco, New York and Provincetown remain important centers of LGBTQ+ life. But today, LGBTQ+ buyers can also find established or growing communities in cities across the country.
Places such as Minneapolis, Columbus, Pittsburgh, Richmond, Atlanta and the Tampa Bay area are among the markets attracting buyers who may be looking for a different balance of housing costs, lifestyle and community.
The goal isn’t necessarily to find the cheapest house.
It’s to find the right combination of affordability, LGBTQ+ community, lifestyle, employment opportunities, healthcare, culture and quality of life.
Remote and hybrid work have expanded those possibilities for some buyers. If a job no longer requires being in an expensive employment center five days a week, the geographic search for a home can become considerably larger.
That can make communities that once seemed impractical suddenly worth considering.
Retirement Is Redrawing the Map, Too
Retirement is another important part of the changing LGBTQ+ real estate landscape.
As more Americans reach retirement age, LGBTQ+ retirees are considering where they want to spend the next chapter of their lives. Housing costs, taxes, healthcare, climate and proximity to airports, restaurants and cultural activities all play a role.
But LGBTQ+ retirees may have additional questions.
Will I feel comfortable living openly?
Is there an LGBTQ+ community nearby?
Can I find LGBTQ+-affirming healthcare?
Will I have opportunities to build a social network as I get older?
Those considerations can make choosing a retirement destination particularly personal.
Palm Springs and Fort Lauderdale/Wilton Manors remain well-known LGBTQ+ retirement destinations. But retirees are also exploring smaller cities and communities across the Southeast, Midwest and other regions where housing costs and lifestyles can look very different.
For many, the search is becoming less about moving to a famous gay destination and more about finding a place where community, lifestyle and affordability intersect.
Buyers Finally Have More Leverage
There is another significant change in today’s housing market: buyers have regained some negotiating power.
The National Association of Realtors reported 1.62 million existing homes for sale in August, up 5.9% from a year earlier. That represents approximately 4.9 months of housing supply, the highest level in more than a decade.
Realtor.com also reported that 20.4% of active listings had experienced a price reduction in August.
That’s a very different environment from the pandemic-era housing market, when buyers in many communities faced bidding wars, waived inspections and offers well above asking price.
Depending on the market, today’s buyer may have more time to evaluate a property and greater opportunity to negotiate price, repairs, closing costs or other concessions.
But there is an important caveat: there is no single national housing market.
Conditions can vary dramatically from one city—or even one neighborhood—to another. Some markets remain competitive, while others have considerably more inventory and negotiating room.
That’s one reason local expertise matters.
Sellers Need a Different Strategy
The changing market also has implications for LGBTQ+ homeowners considering selling.
Strategies that worked several years ago may not work today.
Buyers are highly sensitive to monthly payments, and an overpriced home can quickly be passed over when competing properties are available.
Sellers should pay close attention not only to recent comparable sales but also to homes currently competing for the same buyer.
Condition matters, too.
Repairs, landscaping, staging and professional photography can make a meaningful difference when buyers have more choices. Pricing correctly from the beginning has also become increasingly important.
More Than 30 Years Serving the LGBTQ+ Community
One part of buying or selling a home hasn’t changed: the importance of working with a real estate professional who understands your priorities.
For more than 30 years, GayRealEstate.com has served the LGBTQ+ community, connecting buyers and sellers with LGBTQ+ and allied real estate professionals throughout the United States.
Over that time, the GayRealEstate.com network has supported more than $2 billion in real estate sales and more than 55,000 transactions.
Behind those numbers are thousands of people making one of life’s most personal decisions: where to call home.
For LGBTQ+ buyers, that conversation can involve much more than bedrooms, bathrooms and price per square foot. It can include community, acceptance, healthcare, family, retirement, lifestyle and the ability to live openly.
An experienced LGBTQ+ or allied real estate professional can understand why those considerations belong in the real estate conversation.
Finding Home in a Changing America
The 2026 housing market presents real challenges.
Mortgage rates remain elevated. Home prices are high. Affordability continues to strain buyers across much of the country.
But there are also signs of a more balanced market. Inventory has increased. Price reductions have become more common. Buyers in many markets have regained negotiating power.
And for LGBTQ+ Americans, something else has changed: there are more places to consider calling home.
The next great LGBTQ+ destination doesn’t necessarily need the country’s largest Pride celebration or its most famous gay neighborhood.
It could be a smaller city with a growing LGBTQ+ community, attainable housing, good healthcare, strong cultural amenities and a quality of life that leaves room for travel, retirement or simply enjoying the home you’ve worked hard to own.
Ultimately, today’s LGBTQ+ real estate search increasingly comes down to three questions:
Where can I afford the life I want?
Where will I find my community?
And where will I feel at home?
The answers are becoming more varied—and that’s helping redraw the map of LGBTQ+ America.
Scott Helms is with GayRealEstate.com.
GayRealEstate.com has served the LGBTQ+ community for more than 30 years, connecting LGBTQ+ homebuyers and sellers with LGBTQ+ and allied real estate professionals across the United States. Its network has supported more than $2 billion in real estate sales and more than 55,000 transactions.
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