Preparing To Sell Your House Without A Realtor: What You Need
Peparing To Sell Your House Without A Realtor: What You Need
When you decide to sell your house, there are many options and factors to consider when deciding on exactly how you will sell. Selling your house without a real estate agent is something that can be done and isn’t always as difficult as many might think. However, if you decide to sell without using a realtor, you should take the proper steps to prepare your house and yourself for what’s to come. We will discuss how you can get ready for selling without the help of a realtor.
What Should Homeowners Do to Prepare to Sell Their Home?
If you’re like most homeowners, your home is probably your biggest investment. So, when it comes time to sell, you want to get the most return on your investment that you can. You probably already realizes all of the advantages of selling your house without an agent. But how do you do that?
The following tips will help you prepare your home for sale without using a realtor:
#1. Make Sure You Do Your Market Research
Before you even think about putting your home on the market, it’s important to do your research and find out what similar homes in your area have recently sold for. This will give you a good idea of what price range to list your home in. Familiarize yourself with online real estate tools to understand your local market conditions.
#2. Prepare Your House Inside and Out
Once you’ve decided on a price range, it’s time to start getting your house ready for sale. This means making any necessary repairs and doing a deep clean of the entire house. Don’t forget the outside! First impressions matter, so make sure your home’s curb appeal is up to par.
#3. Devise an Advertising Strategy
Now that your house is in tip-top shape, it’s time to start advertising. Create a sign to put in your yard and make sure to list your home on online real estate listings. You may even want to hold an open house!
#4. Be Willing to Conduct Showings at Any Time
Since you’re selling your house without the help of a realtor, you’ll need to be available to show your home to potential buyers on their schedule. This means being flexible with your showing times and being available at short notice.
#5. Hone Your Negotiation Skills
Since you’re selling your house without the help of a realtor, you’ll also be responsible for negotiating the sale with buyers. This can be tricky, so it’s important to brush up on your negotiation skills before entering into any dealings with potential buyers.
Do You Need A Lawyer To Sell Your House Without A Realtor?
No. Especially not in Texas where Title Companies facilitate real estate transactions. You do however need to know about some basic requirements when selling a house on your own without a realtor.
Make Sure You Understand the Contract
If you’re selling your house without the help of a realtor, it’s important that you understand the contract you’ll be using. The Texas Association of Realtors has a standard contract for the sale of real estate that’s used by most realtors in the state. This contract covers all the basics of a real estate transaction for a single-family home with 1-4 units. You can review what that looks like here.
Consider Conducting An Inspection and Giving it to Your Buyer
While not required, it may be in your best interest to conduct an inspection of your home and provide that information to your buyer. This will let the buyer know exactly what they’re getting and could help avoid any surprises down the road. Plus, it shows that you’re being upfront and transparent about the condition of your home.
Understand Disclosure and Make Sure You Disclose
Under Texas law, sellers are required to disclose certain information about their home to potential buyers. This includes any known defects or problems with the property. You can find a list of what needs to be disclosed with the Texas Real Estate Commission.
Choose Your Title Company Ahead of Time
While you’re not required to use a realtor, you will need to use a title company when selling your home. A title company will help facilitate the transaction and make sure all the paperwork is in order. They’ll also take care of the funds from the sale and make sure they’re disbursed correctly. Choose a reputable title company with good reviews and good customer service because you and the buyer will be interacting with them frequently during the transaction.
Understand a Temporary Leaseback and Use it if Necessary
A temporary leaseback is when the seller of a property agrees to lease the property back from the buyer for a set period of time. This can be helpful if you need more time to move out of your home or if the buyer needs more time to get financing in place. Make sure you understand all the terms of a leaseback so that you can use it properly.
Third-Party Financing Addendum
If the buyer of your home is going to need a loan to purchase the property, you’ll need to sign a third-party financing addendum. This addendum sets out the terms and requirements of the loan so that the seller and buyer understand the timing of the loan and what is required of the buyer and lender.
Know Your Settlement Statement
The settlement statement is the document that itemizes all the closing costs for the buyer and seller. This includes things like real estate commissions, loan fees, title insurance, and escrow fees. Make sure you understand all the charges on the settlement statement so there are no surprises at closing.
Selling Your House To Avoid Commission
Following the tips mentioned in this article can help you avoid paying commissions by selling your house without a realtor. As you can see, it can be done if you take the proper steps to prepare and understand the process, what to know ahead of time, and how to protect yourself from any future liability. If you want all the benefits of selling without a realtor but don’t want to worry about taking all the steps needed, there is an easier way.
You can sell your house to a direct cash buyer. These professional buyers will handle all of the paperwork and make your job as a seller very easy. If you have a house in San Antonio and would like to explore this option, Capstone Homebuyers is a local, family-owned house buying company that has earned a reputation in San Antonio as fast, fair, and reliable.
Consider giving Capstone Homebuyers a call or filling out our form today!