You’ve decided that you want to sell your home in Texas. It’s in your interest to close the deal on your home as soon as possible and pack your bags, right?
For some of you, the whole process of selling a real estate property might be unfamiliar, and you’re probably afraid of skipping a vital step, making the wrong decision, or driving potential buyers away.
That’s where we come in:
Yes, selling a house as is in Texas can be a distressing process if you’re not familiar with all the necessary steps and considerations. So, if you’re set on selling your property, you are in the right place!
We’ll take you through the 8 key steps of selling a house in Texas and cover everything from how to find the realtor for the job to successfully closing the deal.
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Issues Before Selling – Ask Yourself The Following Questions
“Measure twice, cut once” is a good saying to reflect on before you decide on big deals – and selling a house as in Texas is definitely one of them. Before you go through the process of selling a house, it would be wise to consider a few things first.
Ask yourself the following:
Why Am I Selling The House?
Selling a house as is in Texas – or anywhere, for that matter – means that you’ll have to say goodbye to that property and transfer ownership to someone else. That’s obvious, though – so, why are we mentioning it?
Well, it’s not uncommon for some sellers to give up halfway through the process – which isn’t a wise thing to do. One, it could inconvenience the buyer who might’ve already prepared for the move and packed their bags. And two, it could be a breach of contract.
Can I Afford To Buy My Future Home?
And since we mentioned packing bags, do you know where you will unpack yours once you officially close the deal and sell your old house?
It’s a long process that involves many “moving parts” – we’ll go over them below when we get to discuss selling a house as is in Texas. However, it definitely wouldn’t hurt to have a brief idea of your next steps.
Close The Deal On Your House By Following These 8 Steps
It’s important for you to remember that selling a house is a process that requires preparation and decision-making skills.
What are the steps to selling a house, though?
If you’re ready, we’d like to start the eight-step process that will explain in detail what it takes to sell your house.
1. Finding The Right Realtor
Some people are confident enough to think that they can sell their house independently and get a good deal for it. Make no mistake about this; it’s not as easy as they make it sound. The truth is, this is a complex process – unlike anything you’ve done before.
Selling a house as is in Texas – or anywhere else, for that matter – requires working with a professional. You want the deal to be legitimate, and that involves paperwork, finances – and someone who is familiar with the process.
If you’re not selling to a real estate investor, you should connect with the right realtor familiar with selling property in Texas. These professionals know the real estate market better than any of us, and more importantly, understand what both parties – sellers and buyers – want.
2. Deciding When To Sell Your House
It might come off as unusual to some – but there is such a thing as “the right time to sell your house.” Seasonality impacts both prices and how long the property remains on the market.
Now, it’s worth noting that, when you’re selling any type of property in Texas, it’s regarded as selling an investment property. So, if you’re selling for profit, anything you earn on top of what you initially paid is treated as a capital gain.
Real estate investors call pull quite the profit if they time the market right. Not to pull away from the topic, and leave you wondering, here’s the deal:
The best month to sell your property in Texas would be June.
The market competition is intense, and the number of interested buyers tends to grow during the summer. While the season is clearly defined, the buyers’ intentions are usually a bit more subjective – families who want to settle in before school starts, newlyweds, and the like.
You can sell a house in Texas 11 days faster than usual during the summer season, and the sale price premium is around $12,000 more than the annual average.
Of course, this also depends on the location of your property. Let’s take a quick look at some major cities and the best months to sell in Texas:
- Dallas – May
- Huston – July
- San Antonio – June
- Autin – April
- El Paso – December
Now’s the right time to mention the sale-to-list ratio, as well. In short, this is the home’s final price compared to the list price; it helps illustrate the competition and demand on the market and shows how much leverage you’ll have during negotiations.
A 100% sale-to-list ratio is, of course, the best-case scenario, indicating that your property is sold for more than your asking price.
Here are the average sale-to-list ratios in Texas according the month:
- January – 97.40%
- February – 97.60%
- March – 97.80%
- April – 98.00%
- May – 98.00%
- June – 98.10%
- July – 98.00%
- August – 97.90%
- September – 97.90%
- October – 97.90%
- November – 97.60%
- December – 97.79%
Life happens, and you might not sell your house during the period you wanted to – but that’s okay. As you can see, selling a house as is in Texas is profitable year-round.
3. Putting A Price On Your Home
Putting a price on your property is crucial – both for the seller and for all potential buyers who are out there house-hunting.
For starters, put yourself in the buyer’s shoes. You need to approach the pricing realistically; setting the right price could make or break the entire sale.
To ensure competitive pricing, go online and scroll through other listings to get a better idea of how others priced their properties and the current market conditions.
You’re not the only person selling a house as is in Texas; you can learn from the mistakes of other sellers, which would give you an upper hand in the final deal.
Remember that putting a price on your property depends on other factors, as well, including where your house is located, the age of the house, and its square footage.
4. Preparation, Marketing, And Showing Off Your Home
If you’re at this stage, you’ve taken a major step toward selling a home in Texas – and there are several things to discuss here.
First, there are some necessary repairs and improvements. You want the property to look as attractive as possible to the potential buyer – because that drives the value up. Even if you’re selling “as is,” your house still needs to be functional.
Take these two examples into consideration:
During summer – and remember that this is a peak time for selling a house as is in Texas – extreme heat is a significant problem. So, consider installing or upgrading an HVAC system in your home.
Flooding is not uncommon in Texas, either. Therefore, one of the priorities renovations-wise should be the roof. Make sure it’s in excellent condition.
You can count on potential buyers asking about these things. Oh, and don’t forget about the curb appeal of your property!
Finishing these minor repairs means taking the next step and putting your house out there – as in, listing your property.
Here are some tips:
- Take Excellent Photos: A picture speaks 1,000 words. In this case, the image must leave a good impression on the interested buyer. If you don’t have a talent for getting good angles, hiring a professional photographer is a good idea.
- Host An Open House: This technique will entice interested buyers and allow them to come “face-to-face” with the house they want to buy.
- Share Your Listing On Social Media: Sharing your listing on social media opens the door for you by boosting visibility and making it easier to reach a larger number of buyers.
Putting your house on the market might be the most common, but it’s not the only way to sell a house in Texas. Here’s another suggestion:
Choose to list your property on the Mashvisor Property Marketplace. Our platform provides secure and guaranteed visibility and a chance to market your property to agents, real estate investors, and serious buyers. Start out your 7-day free trial with Mashvisor now.
5. Offers And Negotiations
Suppose you’ve got an interested buyer; you’re one step closer to the goal. In that case, it’s time for negotiations. Be prepared – because this could take a while.
You’ll receive offers on your home from interested buyers, evaluate them, and, if necessary, propose a counteroffer (if you decide to proceed with the process) or turn down their offers.
You’re by no means obligated to respond. You have the right to turn down – or even ignore – the buyer’s offer if you think it’s way below the property’s value or comes with unreasonable contingencies.
Once the buyer makes an offer, you can respond with a counteroffer, and you may even go back and forth – until you reach an agreement. As we have said, this process could take a long time, so consider authorizing your agent to handle them and speed up the process.
You will undoubtedly get more than one offer. Therefore, it’s vital to consider all the elements before accepting one.
6. Appraisal And Inspection
Appraisals are an inevitable part of selling a house as is in Texas.
A real estate appraisal estimates the market value of your property based on the condition, location, and the current real estate market. The information is contained in a compact and detailed report conducted by a licensed appraiser.
As for the costs, appraisals can be charged when applying for a loan. Alternatively, the fees can be incorporated into the settlement statement and paid when closing.
Either way, your house is going to be thoroughly inspected. It’s worth noting that sellers have no contractual obligation to make any repairs whatsoever in Texas; homes can technically be sold “as-is.” We recommend dealing with some basic buyer repair requests, though.
7. Paperwork And Disclosures
No one is looking forward to dealing with tons of paperwork – but it’s an integral part of the procedure of selling a house. Otherwise, if you end up missing something, this could set you back and only prolong the process even more.
Here’s a list of documents required for all real estate property sales in Texas:
- Two forms of ID
- Copies of the Purchase Agreement and Addendums
- Closing Statement
- Signed Deed
- Bill of Sale
- Affidavit of Title
Some additional documents you may need include Loan Payoff Information, Survey Results, Proof Of Repairs and Renovations, and Home Warranty Information, to name a few.
Remember that Texas law is specific about the disclosures home sellers must make to their potential buyers – especially issues the buyer would want to know before signing a contract.
8. Closing The Deal
We’ve made it to the end of the whole selling-a-house process – and now it’s time to close the deal with your buyer. The final step usually takes a few days – or a week at most.
Here’s how it will go in Texas, an escrow state:
The lender sends the final loan agreement to the escrow agent, and the final closing date is settled. The seller – that would be you – is typically the first to sign the closing contract. Next, the buyer signs the remaining documents and makes the remaining payments, including the down payment and closing costs.
Finally, the property deed is recorded with the appropriate municipality, and the transaction is complete. When it’s all done, the buyer receives the keys as the new official owner.
And as for you, congratulations – you’ve sold your house!
We’d say that successfully covers everything you need to know on selling a house as is in Texas – but let’s go through the highlights one more time.
As you’re aware, you, as a seller, need to go through a few steps before you finally sell your house.
The first thing sellers should do is find the right real estate agent for the job. After that, you and your realtor embark on a formal process of collecting the documents, appraising the property, and, finally, listing it on the market.
Once you have a buyer, closing the deal in Texas can take up to a week, and you get to walk away with a satisfactory profit – if you consider everything we’ve mentioned above, that is.
If you’ve got a property you’d like to sell, don’t hesitate to ask Mashvisor for help. Good luck!