Selling Your Home

For most families, their home is their largest financial asset, and deciding to sell it is a big decision that involves a lot of preparation and work. When you're ready to sell it's important to have an experienced real estate professional handle the details involved in the successful sale of a home for top dollar.

As an experienced professional who has helped many Austin residents sell their homes, I know how to handle every aspect of the sales process - from strategically marketing and showcasing your home to making sure everything's signed, sealed and delivered by the closing date.

Providing you with comprehensive, high-quality listing service is my top priority. So, when you decide to sell your home, please contact me and let's get started!

Comprehensive Home Selling Process

Step 1: Determining the Value of Your House

Accurately pricing your home is essential for a successful sale. If you set the price too high, your property may not attract buyers and could remain on the market for an extended period. This often leads to price reductions and potential financial losses. In a buyer’s market, you may find yourself continuously lowering the price as market values decrease.

On the other hand, pricing your home too low typically results in multiple quick offers. While this can create a bidding war that benefits the seller, there is also the risk of accepting less than the fair market value.

As a realtor, I can assist you in determining the fair market value of your home. This can be achieved in two ways: either by having your property appraised by a licensed appraiser or by having your realtor conduct a Comparative Market Analysis (CMA). While experienced realtors can provide an accurate assessment, be cautious—some may overlook significant factors related to your home and neighborhood, leading to incorrect valuations.

A thorough CMA involves reviewing recently sold properties in your neighborhood that are similar to yours and noting the prices paid. When determining market value, a quality CMA will consider factors such as square footage, number of bedrooms and bathrooms, condition of the property, and other relevant features. Adjustments are made to reflect these differences. Additionally, the CMA should identify your competition, specifically comparable homes currently listed for sale. Another valuable feature of a CMA is an Absorption Schedule covering at least two years, detailing the average days homes stay on the market and the current rate of sales. Including a chart that illustrates whether home prices are rising or falling in your area is also advisable.

Step 2: Listing Your Home

Once you have determined your property’s value, it is recommended to price your home at least 5% above the market price, taking current market conditions into account. Before putting your home on the market, make sure it is ready to show to potential buyers. Most buyers prefer homes that are ready to move, so professional staging is highly recommended. Follow this by obtaining professional-quality photographs and a virtual tour to showcase your home effectively. Additionally, place easy-to-read signs throughout the property to highlight its outstanding features and valuable aspects.

With these preparations complete, your home is ready to be listed. Good luck!

Step 3: Contracts and Offers

After listing, interested buyers will begin contacting you to schedule tours of your home. They will typically view the property before submitting an offer. Upon receiving an offer, it is crucial to verify that the buyer has been pre-qualified in writing and has provided copies of the earnest and option money checks. Your realtor should confirm the authenticity of the pre-qualification letter with the lender, rather than relying solely on the contract wording. At this stage, you may accept, reject, or counter the offer.

Step 4: Inspections

Once the contract is signed, it will be delivered to both the title company and the lender, and inspections should be scheduled. The buyer will choose a home inspector. The main inspections include:

General Inspection: Not required but highly recommended to identify both minor and major defects in the home.
Appraisal: Usually required by the lender to determine the market value of the property. The value must meet or exceed the loan amount approved for the buyer.
Pest Inspection: Not mandatory but advised to check for wood-destroying insects like termites and fungus.
Special Inspections: Optional but recommended if there are significant construction concerns with the home.

Step 5: Post-Inspection Negotiations

Immediately following inspections, I will negotiate with the buyer regarding any necessary repair adjustments. This may involve agreeing on repairs or reaching a financial arrangement for repair credits at closing. In terms of appraisal, the new value typically meets lender requirements. If there is a discrepancy, further evidence may need to be provided, or professional advice sought. If lender requirements are not met, negotiations between the seller and buyer will be necessary.

Step 6: Closing

The closing date is specified in the contract. If all requirements are met—including delivery of the financial instrument (such as a cashier’s check or wire transfer) and satisfaction of all inspection items—closing can proceed. Closings are typically held at a title company or attorney’s office, where both parties sign the documents to finalize the transaction. Once completed and funds are transferred, the buyer receives the keys to their new home, and the seller receives the proceeds from the sale. Congratulations!