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There's a lot that goes into making a house, from the construction to the interiors, down to managing things like wiring and pipes. It then becomes a home over time as it's lived in and memories are made in it. This is why selling a home is particularly stressful for many people. Some people weren't planning to sell but had to in order to pay off certain expenses. However, there are also others who do so willingly to better prepare for something bigger and/or better.
Whatever the case, the sale of a home is vital. There is no room for error because every cent that can be made from the sale is crucial. Read on to learn about typical mistakes made during the process of selling a home, and how you can best avoid them!
AVOID IT: Sure, you can stage the house in such a way that it seems the bug problem is well-hidden. However, chances are that won't last very long. Well-informed buyers looking to make the most of their funds will usually get a home inspection done once their offer is accepted. If a problem like a roof leak or the aforementioned bug issue is found, that could cause significant delays for what should have been the closing date.
AVOID IT: What plenty of people tend to overlook is that selling a home is more than just 'sell house, get money.’ There are several costs usually attached when a home is being sold. This can include the likes of closing costs and agent commissions. Before putting a home up for sale, it's best to be prepared for these expenses as well.
AVOID IT: Make sure you are always updated on what the exact value of your property is at the time. Take any owed mortgage into account as well: a portion of the sales should be used for the remaining balance to be paid off. However, in some situations, what's owed on a home ends up being more than the present value of the property.
In those cases, it means there's negative equity; sometimes, it's referred to with terms such as 'underwater' or 'upside-down.’ Whatever term is used, it all means the same thing: selling the home at that stage won't lead to the mortgage being paid off. Some people choose to just break even and sell the house in order to end a cycle or loophole affecting their finances.
It should be noted that all of these mistakes can easily be avoided (or, if already committed, better addressed) when a real estate professional gets called on.
Selling a home can be rather difficult if there are particular emotional attachments, though for some people, it's just the right time. What doesn't get any less tough is the number of typical home-selling mistakes there are in the first place. These include selling when the house is at negative equity, not being honest about needed repairs, and not factoring in home selling costs.
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People have different reasons for selling off their homes, such as the need for extra finances or the need to relocate. Regardless of the reason, all of it is valid and very understandable. Now, just because there is a clear purpose to sell the house doesn’t mean that one should just wait out for the calls of potential buyers. Other factors may come into play during the sale, and if you’re not careful, you may commit mistakes that can negatively affect your intent to sell the house.
In such a case, it is your responsibility to know about these mistakes to avoid committing them. The following are just some of the most common mistakes you need to avoid at all costs:
You must not hide anything from the buyers, especially the damages to your home. It doesn’t even matter if it’s a leaky faucet or a broken furnace—they will find out about it once they conduct their independent inspection. Honesty and trust are the keys to making a great sale, and if the buyer doesn’t get that upon the first few lines of your conversation, they may begin to look for other properties on sale.
Give them all the facts upfront and see if they’re still willing to buy the house from you. Remember, not all buyers are skimping out on cash. Some may even be willing to pay extra just to get the damages fixed. As long as you’re putting everything on the table, your chances of selling the house will not go down the drain.
Suppose that you find a buyer who is more than willing to move in immediately. Where would you and your family stay? This is crucial, as you wouldn’t want to end up sleeping in a motel while you’re trying to find a new home.
So before you can even post up your home for sale, try to find a new one immediately so that you will never have to worry about buyers who are willing to pay and move into your old property.
Some buyers may not be able to visit your home due to distance. In that case, you must post explicit photos of your home, both indoors and outdoors. Make sure that every section and corner of your house will have a photo on the online sales page and include actual measurements of each area.
Doing so will give your potential buyers a general idea of the size of your property. This will also save you both time, especially if they’re looking for a big house and you only have something smaller than expected.
By knowing and avoiding these mistakes, you will be able to present your home in a good way and avoid any misunderstandings that could put off potential buyers.
Being honest about its features and amenities, looking for an immediate home to move into, and posting complete sets of photos showing off its sections may just land you a buyer in no time without running into any hassle. Plan out exit early on and consider our tips to enjoy your move into a new home without having to worry about any complaints from your buyer.
If you need any help selling your house fast, we at Apex Texas Realty are here to serve you. Our experienced real estate team specializes in buying, selling, and renting out homes in Central Texas. Contact us—let us discuss the details of your home for sale today!
Selling your house usually means taking the time to fix it up before you present it to the market. However, not everybody has the time or money to allocate for this stage. If you ask us, it’s possible to sell your house fast—even without shelling out cash or seeking the assistance of a real estate agent.
Although, there are some advantages and disadvantages to using this method. Read on to find out how to sell a house “as-is” and whether it's the best option for you!
You notify buyers that an “as-is” sale will not include any repairs. By making this clear, whether verbally or in writing, buyers must agree not to sue you for existing damages or any flaws in the house. “As-is” houses are frequently outdated and in need of repair, making it highly uncommon for buyers to buy "as-is" homes.
According to state and federal disclosure requirements, sellers must notify prospective buyers of any flaws in the home before selling it “as-is.” In some states, however, homeowners are not required to disclose previous problems, such as flooding.
To avoid lawsuits due to unreported home problems, sellers must conduct thorough research on their state's disclosure rules before listing or purchasing an “as-is” home.
When a home’s worth surpasses its present market value, it invites investors to seek a profit on the sale. Budget-conscious buyers and cash investors may be enticed by an “as-is” home that shows promise and lacks significant flaws.
Selling a house “as-is” usually results in a lower profit margin, but there are still a few advantages to it. For one, sellers save upfront money for repairs that they may not get back when the house sells.
Additionally, selling a house “as-is” saves time and money because buyers or investors can complete the transaction in cash–removing the requirement for mortgage approval.
While selling “as-is” can be a handy and quick option to sell a house, there are also some drawbacks. If you sell your home “as-is,” many consumers will believe it is considered faulty, even if it is only in need of minor repairs and may result in a low buying price.
It’s always good to get a little bit of help and guidance, so before listing your “as-is” home, consult the professional advice of an experienced real estate agent. They can aid you in assessing whether selling your house “as-is” is the best alternative. Moreover, some buyers may find that your “as-is” property has no significant flaws and will accept your asking price. This way, you may earn a more substantial profit even if purchasers request a minimal repair discount.
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Online listing is one of the most productive ways to sell a house. In a few clicks, buyers can find your home and everything they need to know about it. Besides finding the ideal website where you plan to post your property listing, you also need to determine whether you want to give exclusive rights to sell to your agent or not.
You have probably heard about this option before, but if you want to understand it better, this article will help you get to know your listing options more.
Nowadays, one of the popular agreements between the seller and the real estate broker is the exclusive right to sell. This agreement means that you give your seller the exclusivity to sell your property or market your home.
You would not be allowed to find another agent or broker to sell the property on your behalf. As long as the contract runs, only your agreed broker can find a buyer for your house.
Even if your property is exclusive to one broker, they can still maximize all property listing sites and have a presence in all of these platforms through the MLS (multiple listing services) technology. Here is the catch, though: even if you, the property owner, were the one who found a buyer, you still need to pay your real estate broker a commission as agreed.
Exclusive agencies and exclusive right to sell are two distinctive concepts. The exclusive agency option also gives the selected agency the sole right to sell or market the property. The only difference is that there is no guaranteed commission when the owner is the first to find a buyer for their property.
An exclusive agency works with various agents. However, there is no assurance that these agents would get something from the property they try to sell. They would only get commissions if they successfully sell the property. This very reason makes agents avoid this type of contract as it puts them at considerable financial risk.
If you are not fond of any of the two, know that there are still other listing agreements that you can explore. Here is a quick rundown of your other alternatives:
Real estate agents may require commissions, but they help make selling properties easier for the home sellers. They could conduct extensive checks and balances to ensure that the potential buyer can pay for the house. They can also make the search for a buyer quicker. Make sure to consider if this option which would be more beneficial for you.
If you want to sell your house fast in Texas, contact us at Apex Texas Realty. We are the number one real estate team in the state that could help you find the next owner for your home. Our website features the best real estate search for homes, condos, land, and foreclosure properties available, with a database update every 15 minutes. You can also monitor the real estate movement in the neighborhood through our website.
Selling a property is not just about posting a simple listing on a website. There is a lot more that goes into it. Finding a possible investor can be tricky, especially since there are hundreds and thousands of different other options to choose from. However, there are a few tips and tricks to streamline the process.
If you are struggling to find a buyer, take advantage of your technological resources and consider following these five tips so you can effectively sell your land online faster.
If you are selling your land, you wouldn’t want to mislead a buyer with incorrect information. This can only make the transaction more complicated. It is best to show pictures, videos, and detailed text so those exploring online would instantly know if what you are selling is what they are looking for.
You should also demark the boundaries clearly. Remember, you can never be too descriptive when you sell land online, especially since many buyers tend to have their guards up, so they won’t get duped.
A lot of landowners have a hard time looking for potential investors because of the pricing. One thing that can set you apart from other sellers is setting a price aligned with your own goals and reasonable enough for its location, amenities, and features. It is also worth noting that you should not shortchange yourself.
Keep in mind that the pandemic has caused millions of Americans to relocate. Those from bigger cities like San Francisco and New York are moving to larger spaces, so you will likely find a buyer from that demographic!
Aerial photography captured by drones will allow the buyer to have a much better sense of the property on offer. According to statistics from the Multiple Listing Service (MLS), land properties with aerial photography are 68 percent more likely to sell than those without it. This is because a bird's-eye view allows you to see all of the land's distinctive features. If feasible, employ a drone photography specialist to assist you with this.
Gone are the days when people bought land only for the sake of owning it. People nowadays would purchase one to live in it or utilize it for whatever purpose they choose. It won't always be bare soil with some vegetation and a few trees.
Your potential buyers will want to build a home or other structures to speed up the return on their investment. Because of this, make sure they are aware of your land's development potential. Emphasize its benefits, such as nearby commercial areas, the possibility of bringing utilities, and plans for local growth.
Research keywords that buyers use when shopping for land online. This will help your listing appear higher on search engine result pages. Some popular keywords that many shoppers use in their searches include “close to town,” “safe,” “private,” etc.
Even with the help of technology, selling land is not without difficulties. However, there are a few extra steps that you can take for investors to be convinced about what you are offering. You already have access to a large audience thanks to the internet. Now, you just have to put everything good about your property under the spotlight so that you can easily set yourself apart from other sellers. In no time, that “Land for Sale” sign will be long gone.
If you are looking for land for sale in Central TX, Apex Texas Realty is the number one real estate team in the area! Sell your home, buy a home for sale, or rent a house in Central Texas, including Belton, Temple, Salado, Harker Heights, Killeen, and surrounding areas. Our website features the best real estate search for available homes, condos, land, and foreclosure properties. Talk to our experts today!
Listing your house as “for sale by owner” may seem like an excellent way to keep most of the cash from the sale. However, it’s a high-risk move that entails a significant amount of paperwork. You’ll be required to procure a set of documents yourself, and it can be a rather taxing task for many.
Before you put up your listing and sell the property yourself, you’ll have to consider the requirements you’ll have to accomplish to legally complete the sale. For Texas residents, here are some of the most important documents that are needed to close the deal:
The deed is a legal document that attests to the transfer of the property’s ownership. It contains the names and signatures of the seller and the buyer, as well as a description of the property being transferred. This document transfers the title and grants the buyer specific rights to the asset.
You will need to present the deed during closing if the buyer purchases the house via cash or financing. The buyer will then file the deed with the local, state, and federal agencies. If you’re providing the funding, however, it’s best to keep the document in escrow until all payments have been made.
A contract for sale highlights the terms of the sale and is essential if the buyer decides to pay in cash or secured financing. This document includes financial details and the methods of funding needed to complete the sale. You may also have to work with a title company to provide the property with title insurance.
The sales and purchase agreement is one of the most important documents that will need to be prepared for any property transaction, for sale by owner or otherwise. This is a binding legal document that both parties need to sign to indicate that the exchange is serious. It stands as a written obligation that the seller intends to sell the land and the buyer plans to buy it.
The agreement must be specific and accurate in describing the property, and the price should be indicated in numbers and words. It must also contain the deposit amount that the buyer must pay and what the seller will do with the deposit. There are many other conditions that the document must include, such as improvements, plans, and penalties.
Other required documents involved in a sale include property disclosure reports, closing statements, an affidavit of title, HOA forms, and many others. You may need to work with attorneys and other professionals to procure certain records.
Selling your house on your own allows you to save on commissions, but it also means that you’ll have to do most of the legwork. You’ll have to put in the work in preparing documents, negotiating, looking for potential buyers, and making numerous difficult decisions. There’s a lot of paperwork involved, and it’s often a high-risk gamble.
If you’re looking to sell your house in Texas more efficiently, it’s best to consider working with professionals. Apex Texas Realty is the #1 Real Estate Team that makes buying, selling, and renting properties easier. Get the best price for your property—contact us today!
Buying a home is an overwhelming but worthwhile process for most people. However, first-time buyers are more prone to making mistakes that can cost them thousands of dollars. But through the experience of others, here are the common mistakes people make in buying their first home that you should avoid.
Keep in mind that borrowing money from mortgage companies takes time. They first need to get specific information and documents from the applicant before they validate if they are qualified for the loan or not.
While you’re still shopping around for the perfect house for you, it’s logical to apply for preapproval to ensure you have the money ready once you find the ideal home. Pre-approval of a loan assures the seller that the transaction won’t fall through during the last minute, which may cause you to lose the property and time.
Out of ten people, nine will go to a mortgage lender recommended by people they know. While that’s a great way to see if you can trust a financing company, what was offered to the people you know may not be as good as the offer to you.
It’s best to do your research, compare the perks from at least two other lenders, then pick the best loan. Try to consider the interest, period of payment, and the leeway they can provide if you miss a payment.
It’s easy to max out your housing costs based on your pre-approved mortgage amount. Try to consider how much you might earn and how much you need to live in a decent property, then decide on which house to pick. It also helps if you don’t spend all your savings on a home you truly want to have.
Leave yourself a safety net to fall on in case things don’t go according to your plans. Ask yourself, “If I lose my job today, will I still be able to pay?” Leave a savings fund that can get you across two to three months without a steady income.
Statistics suggest that you are not likely to live in your first home forever. It is wise to consider the possibility of selling the house later on. Before buying the property, make sure to consider resale factors, such as location, number of bedrooms and bathrooms, and lot size. Try to use common sense in buying a property among a community of properties. Pick out the one that has a better selling value compared to houses in the area.
Since buying a house is overwhelming, never allow that feeling to drive you into buying the first house you see on the market. There are always many options for you; make sure to check all of them before settling on one property. Some properties sell for a low price with many issues that need to be fixed.
Consider hiring an inspector to check for problems that need to be addressed and think if it’s worth spending on repairs compared to buying a more expensive house with minimal maintenance. Never rush the process of purchasing a home and seek all the possibilities around you.
Being a first-time homebuyer does not mean you should make the same mistakes others have made. Instead, be more intelligent than them and learn what you can take from their errors. Use that information and knowledge to get better deals for your budget and liking. Buying a property for the first time may be overwhelming, but it is possible to go through it without making mistakes.
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Selling a house has always been difficult for many homeowners, regardless of what city or state you’re in. It’s not exactly a walk in the park as it involves a lot of second-guessing and consideration. If you happen to be a homeowner in Texas looking to sell your house, then you’re going to need to be patient and assertive if you want to sell your home fast and without any problems. Although the steps required to sell a house in Texas are similar to those in other states, Texas does have its own unique local practices and real estate laws to contend with. For that reason, we created this simple guide to help you go through the hoops of selling a house in our beloved state of Texas.
According to compiled real estate data, a typical home will take about an average of 45 days to get a serious purchase offer. Then, an additional 30 days, on average, is needed to close on the deal. Overall, that gives you about 75 days for a house to be listed and sold in Texas.
Waiting 75 days may seem like a long time for most people, but the long wait is actually worth it. Looking at the current state of the real estate market in Texas, it has seen regular appreciation in recent years. Despite the housing market taking a hit during the pandemic, it’s gradually starting to bounce back with a modest increase in appreciation across the state on average. In fact, popular areas such as Dallas have seen substantial increases upwards of +11.9% in prices.
Selling a house in Texas requires precise timing if you want to make the most out of it. But it’s not just the month or season you need to take into consideration here. There are actually certain property types that sell better at differing times of the year. Sometimes, commercial properties are selling like hotcakes, while there are times when residential real estate are all the rage. In some cases, homes could even sell at a higher closing price during particular months.
The good news for home sellers is that Texas has a clearly defined real estate cycle, with property prices rising and falling like clockwork. It may seem complicated to the uninitiated, but once you know the pattern, you’ll have a better idea of when’s the best time to sell your house. This makes planning to put your house up for sale is easier. Some seasonal considerations you include:
Looking at these factors and current market trends, you are more likely to sell a home the fastest in Texas by listing in May or June. This gives you an average time of 35 days plus closing times.
Selling a home in Texas does have its challenges as with any other area with an active housing market. By sticking with these tips, you can sell your house at a reasonable price and in the fastest time possible.
Turn to Apex Texas Realty whenever you need to buy, sell, or rent a house in Central Texas. As the number one real estate team in the area, we make real estate transactions easy and hassle-free. If you want to sell your house fast in Texas, contact our property experts today!
If you're looking to sell a house, you should research what renovations would make your home more appealing before joining the market. Before you go on signing contracts, there's something we think you should know about the current market.
Many more purchasers are vying for available properties, and renovations might not be as necessary as before.
In today's competitive market, it may be wise to give future buyers the freedom to modify the kitchen or bathroom to suit their lifestyle and interests. When selling, cosmetic improvements such as power-washing the cement or splashing on a new paint coat could be a better suit for your money.
There's no need to over-invest in your property by making changes that homebuyers might not want in the first place. Work with a knowledgeable agent to determine which projects best promote your listing without consuming too much money or time.
Every real estate piece is unique. Some homes only need minor cosmetic touch-ups, while others require a complete kitchen or bathroom remodel, and still, others require extensive repair work in other areas. This is why it's essential to evaluate the present state of your home.
If you own a turnkey or move-in-ready property, there is little to no need to renovate anything, and you can just let the purchasers do anything they want once they move in. However, if it needs repairs, you may have to contribute to making it more livable. Before undertaking any remodeling work, consider the present condition of your property.
A professional pre-listing house inspection is recommended so that you are informed of any potential issues, such as structural or electrical difficulties, bugs, and even mold. The home inspector will examine the property thoroughly, and their findings or report will detail the critical repairs that must be made.
The same factors that make it an excellent time to sell make it challenging to acquire a home. According to the study, just 10% of those expecting to sell in the next 18 months say one of their significant motives for selling is because they no longer want to be a homeowner. Entering the congested pool of property purchasers will be difficult for the remaining vendors.
Whether it's the location — such as relocating closer to family, outside of the city, or for a new career — or the house features, each item on your must-have list will make choosing your next home more difficult.
Some purchasers claim they want to buy fixer-uppers, but they're usually opting for ones that need minor, aesthetic repairs. Fixer-upper buyers are individuals who either do not qualify for a more expensive house or want to maximize profits by doing the repairs themselves.
Before you decide to sell your house, educate yourself as much as possible about the property market and other properties for sale in your region. Then, assess which home improvements are most likely to provide you with the best return on investment.
If you find yourself asking questions like "How much is my house worth in Belton, TX?" it might be more practical to partner with the experts! Apex Texas Realty provides instant property valuation so you can sell better and faster! Get in touch with us today!