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Preparing To Sell Your House Without A Realtor: What You Need

Colby Hager on October 20, 2022

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!

Selling Your House On Your Own Or With A Realtor: What Are The Costs?

Colby Hager on September 4, 2022

Selling Your House On Your Own Or With A Realtor: What Are The Costs?

It’s no secret that selling a home can be expensive. Between the realtor fees, closing costs, and repairs that need to be made before you put your house on the market, it’s easy to see how the cost of selling a house can add up quickly. But what if you could sell your home without paying any of those fees? Or what if you could pay a fraction of the cost by selling your house on your own?

 

In this blog post, we’ll explore the costs associated with selling your house on your own or with a realtor. We’ll also look at the best way to eliminate those costs altogether. So whether you’re thinking about selling your house on your own or working with a realtor, read on for more information about the costs involved in each option!

 

Standard Costs of Hiring A Real Estate Agent To Sell Your House

The Cost of Real Estate Commissions

With the value of real estate constantly rising, it’s important to know just how much you can expect from your agent. Let’s say that your house sells for $300K with a 6% commission. Your real estate agent fee would come out to $18k! This may not seem like a lot but when you factor in closing costs, repairs, and other expenses related to the sale of your home, it adds up quickly!

 

Here’s the thing about real estate commissions…even when you try to sell your house on your own, buyers normally already have a realtor and that realtor still wants to get paid. They will either steer them away from your house or ask the buyer or you to pay their commission. In this type of situation, the real estate agent can create some costly roadblocks for you as the seller.

Closing Costs

Home sellers should be prepared for all of the costs they will incur at their closing table. These are deducted from sale prices and add up fast!

 

Closing costs can vary depending on the property and type of transaction. When you work with an agent to sell your house, expect about 2% of its final sale price in closing expenses like transfer taxes, escrow fees, and recording fees (but not including real estate commissions). But if Capstone Homebuyers buys direct from owner-occupants like yourself we’ll take on those expenses.

Inspection Related Repairs

When selling your house, inspection items should be expected.  If an ispection uncovers too many problems or major issues, there will likely have a repair request amendment.  Again, this is standard and should be expected. Almost without exception, most sellers have to do some inspection-related home repairs during the option period of a contract. Repairs that have been neglected for long periods of time, can have repair costs that are fairly substantial and add up quickly. A new roof, for example, can set you back by as much as $20,000. Additionally, some lenders require certain repairs to be made before they will lend on the house. 

Unexpected Costs Of Selling Your House With A Realtor

Additional Marketing

It’s important to know what your real estate agent is going to do for you beforehand. Some agents provide full service and will market the property in several ways, at no cost whatsoever; other agents leave the marketing up to you. Even full-service agents often require you to pay for things such as professional photographs, staging, and cleaning.

Staging Your Home

Perhaps the most important thing to do when you’re selling a home is to make sure that it looks its best. This means investing in some professional staging services so your property will appeal not only in pictures but also to potential homeowners who are looking in person too. Having tenants in the property when selling is not a substitution for proper staging.

Failed Contracts

A failed contract is when the prospective buyer backs out. This could be due to repairs, issues with the lender, not qualifying for their loan, or they just changed their mind. According to CNBC, 20-25 percent of all accepted contracts end up failing prior to closing. This can even happen with the national ibuyers as well which can leave you as the seller in a tough spot.

Lender required repairs

Sometimes when you are selling your house to a buyer who is using a loan to buy your house, the appraiser will note some repairs that need to be made. These will then become lender-required repairs. These are separate from inspection-related repairs and can increase your repair costs because they are required to be made before the buyer’s loan can get approved.

Costs Of Selling Your House On Your Own

Landscaping

Landscaping is the most important thing to improve curb appeal, and it normally costs about $3K. Every outdoor space should feel inviting even when there are no people around- which means you can enjoy spending time outside. This is an area where people can get creative but it is often hit or miss so make sure and plan carefully with the buyer in mind.

Professional Pictures

This is something that is overlooked even by many real estate agents.  Don’t make this rookie mistake. This is one time when the great iPhone cameras just won’t cut it. Oh, and your neighbor Bob who is an amateur photographer won’t cut it either. Sure professional real estate photography isn’t cheap, however, it IS very valuable. Skip this cost at your own risk.

Utilities and Holding Costs

Even if you’ve already moved out for your upcoming sale, you can’t just cancel CPS in the home. Can you imagine falling in love with a house that feels more like a sauna as you walk through? Us either. Additionally, you will not want to cancel your account with SAWS. Water will still need to be used for proper lawn care and to keep the toilets operational. If the house is one you’ve been living in, then you already know what it will cost you to keep the utilities on.

Underestimating The True Value Of Your Home

If you aren’t using a licensed Realtor and you aren’t selling to a professional homebuyer, you could be missing out on potential value when you sell your house in a private sale. For instance, professional homebuyers are used to giving competitive offers because they know the market and know the competition is fierce. Realtors are also trained to estimate values based on comparable sales and are required to have your best interests as their primary focus.

Unexpected Costs Of Selling A House Without An Agent

Not Knowing Real Values

Understanding the demographic of buyers and renters in your area will help you market accordingly. For example, families looking for something different than college students or young singles might be interested in houses near yours. Having a good handle on who is buying can make it easier when deciding how to reach them with ads! Take some time today (or tonight!)to understand what each group wants so that everyone has an opportunity to see that your house would be a good fit for them!

Lack of Negotiating Strategy

You might be the type of person who can read people well and has a knack for negotiating. Maybe you’ve even taken a few business courses. But, do you know what to say when it comes to real estate negotiations?

 

Do you know how to properly value your home so that you’re getting top dollar without leaving too much on the table? How will you respond to a counter offer or other types of concessions requests?

 

Having a strategy for how you will sell your house quickly is important. If you want to skip the back and forth, you might want to deal with a straightforward home buyer who will give you their best cash offer the first time without uncomfortable and drawn out negotiations.

 

Costs Of Selling Your House To A Direct Buyer On Your Own

The costs of selling your house to a local home buying company like Capstone Homebuyers is usually very small and packed with benefits.  Here are the most common costs when selling for cash:

Pro-rated property taxes

Pro-rated property taxes can reduce your net proceeds when you sell your house because you will be giving the buyer a credit for any unpaid taxes up the the day when the sale closes and is finalized.

Prior liens and judgments

Any prior liens or judgements that have attached themselves to the house or to the current homeowner will have to be paid before the transaction can close. Unless specifically negotiated, these fees would come from the seller of the property.

Sell Your House Fast For Cash To A Direct Buyer

Selling your house is a big decision and can be a costly and risky process. 

 

It’s hard to know who to trust when selling your house. You might have to make costly repairs before selling, pay commissions and fees, or take on the risk of selling on your own. 

 

Capstone Homebuyers offers an easy, no-risk solution. We give you our best offer upfront, pay all closing costs, and don’t charge commissions or fees. We buy houses as-is so you don’t have to make any costly repairs before selling.

BBB A+ Rating Capstone Homebuyers

Our Promise

Capstone Homebuyers is a company that buys houses in San Antonio and has spent years developing a great reputation. As a team, we bring years of experience to the table. We are focused on helping homeowners like yourself sell your house quickly without any hassle, fees, or commissions. Our promise is to deliver this service with honesty and integrity throughout the entire sales process.

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