Let’s face it, most of us will start our real estate search online. Leading industry websites, will spice up their online information by adding the sold price or estimated value into their searches. While this information can be a great starting point, because Texas is a non-disclosure state, the information they use to provide us with these estimates is severely not reliable. Non-disclosure states only make available to the public how much a home was financed for, not the sales price. Cash sales, down-payments are not taken into account. To add to the confusion, many of those websites will adjust the “value” of properties based on listing prices. Listing price is dictated by the seller, what a home eventually sells for is what the market dictates that property is ultimately worth.
So, how do we find out? Eventually, the perceived privacy barrier of the internet will have to be broken. A real estate professional has access to the actual sales values in your area. Contacting a real estate professional that understands the data and how that data translates into value for your specific neighborhood/street/property is crucial. Furthermore, we will be able to further assist you with the value of your home after taking a look at the unique features that make your home so special.
While personal factors will dictate when it is the best time to sell YOUR home, San Antonio is a very seasonal city. Military relocations, holidays etc, all play a role in when it’s best to sell, and for how much. Even though “summer” is generally considered peak season, if you are too far into summer months, you may miss the influx; listing right before a major summer holiday may cause us to get less showings as many San Antonio buyers are out of town or entertaining, etc. During the summer, while there will more homes on the market (more competition), you will also have more buyers on the market. A golden rule of real estate stands the worse of markets: a home well priced and that shows well will do better than an overpriced one. After sitting down with you, together, we will determine when it will be best for YOU to list, even if it is months from now.
Before making any big moves, it’s always a smart idea to have a home selling plan in place. Establish the reason why you want to sell – the goal you want to achieve – and communicate this to the licensed real estate agent you want to work with. Find out how much your home is worth, establish a sale price, and ask them for a comprehensive plan that explains what they will do to market your home. Ask what the average time on market for your neighborhood, discuss where you plan on living next if it sells quicker than expected – even if it’s just temporary.
You’ll also want to call your mortgage lender to find out exactly how much you need to pay off so we may figure out how much you will net after the sale. Once your plan is in place, it’s time to start working with the real estate agent to prepare your house for a sale. We have several different approaches in terms of repairs needed based on how much time we have before putting it on the market. If vacant, staging your home will pay great dividends. Pay attention to to curb appeal, and keep it clean!
Many sellers are afraid of what they will find if they do a home inspection. Of what will need to be disclosed. The truth is that a buyer is likely to find these things and will use the option period (number of days a buyer buys for the unrestricted right to terminate the contract and be entitled to earnest money back) as leverage to negotiate a lower price or repairs.
A pre-listing home inspection covers any potential problems that may arise before signing the dotted line. While you don’t need a home inspection report, on many occasions, it is often a good idea – it could benefit you in the long run and provide your listing with a competitive advantage. The key is really how we approach the findings. We can address the larger issues before we list the house and show potential buyers how you took care to address concerns. We can price the house accordingly to issues, so we prevent the proverbial “second bite at the apple” after a buyer performs their inspection. It may also prevent the dreaded “back on the market” status if buyers finds things they are not comfortable with.
While some costs are part of the negotiations when a buyer submits an offer, some of the most common seller’s costs are:
- Seller costs – This is the commission for the real estate agents involved in the transaction.
- Loan payoff costs – Your loan payoff will often be a little higher than the remaining balance on your loan because of prorated interest.
- Transfer taxes or recording fees – These are the taxes imposed by your state or local government to transfer the title from one owner to another.
- Title insurance fees – Sellers typically pay the owner’s title insurance premium.
Additional closing costs for sellers include: liens or judgments against the property, unpaid homeowner association dues, prorated property taxes and homeowner association dues included up to the settlement date.
Before we list your home, we will always provide you with a net sheet. An updated net sheet will also be provided to you with each offer, so you see how it all affects your bottom line.
Just like their owners, every home is unique. All transactions are different because, no matter how many times you sell your home, the parties involved will be different. We understand that so we have an extensive, week by week, comprehensive marketing plan that is further tailored to your needs and your home uniqueness. Not only do we market your listing on our own website and promote it with targeted ads, but we also collaborate with our broker, Kimberly Howell Properties, to get your listing seen by as many serious buyers as possible.
We will be there, every step of the way. From the moment you think of listing your home, preparing, marketing, showing, and helping you negotiate a deal that will bring all parties to the table, our invaluable fiduciary duty to you will be evident in all of our interactions.