Delaware Real Estate Laws
This Delaware form must be given to consumers at the first “substantive contact” in a real estate conversation.
What is the CIS (Consumer Information Statement)?
This document solidifies an offer in Delaware and becomes legally binding once both buyer and seller sign.
What is the Agreement of Sale?
Delaware charges 4% for this tax on property sales, with buyers and sellers typically splitting it.
What is the Real Estate Transfer Tax?
This happens exactly when you sit down to eat lunch or take a bathroom break—clients love to do it at that moment.
What is call or text you?
What movie shows a buyer they shouldn't waive inspections?
What is The Money Pit?
Delaware requires sellers of most residential properties to complete this extensive document about the home’s condition.
What is the Seller’s Disclosure of Real Property Condition Report?
All buyers in Delaware receive this mandatory summary of potential environmental issues.
What is the Radon Disclosure / Radon in Real Estate Brochure?
Delaware’s property taxes are considered low partly because the state uses assessments based on this type of value.
What is outdated (historic) assessed values?
At an open house, visitors often say this phrase that instantly tells you they’re not buying the home.
What is “We’re just looking” or “We’re just browsing”?
Kevin McCallister defends this iconic brick home in a Christmas classic.
What is the Home Alone house?
If a Delaware agent represents both the buyer and the seller, this type of agency relationship is created.
What is dual agency?
After ratification in Delaware, this key period begins during which inspections can occur and repairs can be negotiated.
What is the Inspection Period?
Delaware transfer tax includes an exemption for buyers using this type of loan on their primary residence.
What is an FHA, VA, or USDA loan (First-Time Buyer Exemption)?
This box is a Realtor’s best friend—and enemy—when the app won’t load, the battery dies, or someone can’t find it on the door.
What is the lockbox?
In I Love You, Man, this character works as a real estate agent trying to sell Lou Ferrigno’s house.
Who is Peter Klaven?
This act governs real estate licensees in Delaware.
What is the Delaware Real Estate License Act?
In Delaware, earnest money is usually held by this party.
What is the listing brokerage or selling brokerage (depending on the contract)?
The first-time homebuyer tax reduction in Delaware reduces the buyer portion of the transfer tax by this percent.
What is 0.5%?
When a client sends you 27 homes they've found online—even though you set them up on a search—this is the website they usually got them from.
What is Zillow? (Accept: Realtor.com, Redfin—if you want to allow multiple answers)
Poltergeist features a house built on this type of land—big mistake.
What is a cemetery / burial ground?
This state body regulates real estate agents, licensing, and disciplinary action.
What is the Delaware Real Estate Commission?
Delaware contracts use this clause, allowing buyers to void the contract if their home doesn't sell.
What is a home-sale contingency?
If a buyer purchases new construction, this tax is often reduced or paid by the builder as part of this type of incentive.
What are builder incentives / transfer tax credit?
This is the universal sign that a client is definitely not going to make an offer: they bring one of these to every showing… and have no intention of using it.
What is a tape measure?
(Other acceptable answers: a friend with “opinions,” a list of 50 questions, a full inspection checklist)
This 1999 horror film features a haunted house used in a psychological study.
What is The Haunting (Hill House)?