SELLING GUIDE

Selling your home yourself can save you thousands of dollars, but it can be tricky. It can be done, however, it will take some work on your part. You will be doing what a real estate agent should do for you. Despite what real estate agents may say, selling your home is not rocket science. Following the myTXhomeforsale.com selling guide will make the process easier and you'll save a lot of money. Let's get started!

1. PREPARE YOUR HOME TO SELL

Homebuyers are attracted to clean, clutter less, well-lit homes. Clean your home from top to bottom, inside and out, especially the bathrooms and kitchen. Open the windows and turn on the lights; a bright home is a cheerful home. Light scented candles are a plus. Mow the yard, trim the bushes and trees, and pick up the clutter on the outside of your home. Touch up the paint or repaint if necessary. Do what it takes to enhance the appeal of your home. Make those minor repairs. A squeaky door, dripping faucet or loose board may not bother you but could give the homebuyer the impression of needing major repairs.

2. DETERMINE THE PRICE

Resist the urge to overprice your home. Overpricing can reduce buyer interest, make the competition look more appealing and can lead to mortgage rejections. Overpricing is the single biggest reason many "For Sale By Owner" homes don't get sold. Unfortunately, the market determines the price of your home, not what you think it is worth. By setting the listing price 5 to 10 percent higher than market, you will typically get offers closer to the true value of your home. There are many ways to determine the listing price of your home. A good place to start is to look at the homes in your area that have recently sold. If your home has more features or more desirable qualities than other homes don't be afraid to explain your price. Some buyers might pay the asking price if they understand how it was determined, this could be an area in which the buyer is completely unaware. Many mortgage companies use tools such as Automated Valuation Model (AVM) and Instant Home Valuation to determine residential property values. You can find these tools on the Internet if you desire. Finally, buy setting the price just under a whole number gives the impression that you are willing to negotiate. $130,000 has a strict sense of finality to it where $129,900 indicates leeway.

3. MARKET YOUR HOME

By using myTXhomeforsale.com to market your home you have taken advantage of the latest way to sell homes: the Internet. Even though we are just getting started, we are committed to getting our web site as much exposure as possible. More exposure for us means more potential buyers for you.

Writing your ad could be an arduous ordeal but it doesn't have to be. Your ad should be thorough, containing critical facts yet skipping a long, flowery dissertation that makes it hard to read. Keep it simple and to the point. Hitting the highlights, such as the number of bedrooms and bathrooms, any recent renovations, etc., keep the buyers interest because this is what they look for.

Take lots of pictures, this way you are sure to get the shot that best showcases your home. Move furniture around to enhance the view of your home. Clean the clutter from kitchen counters, fireplaces and entertainment systems before you take the pictures. Remember, you are selling your home, not your belongings.

Our signs are professionally produced and attractive to look at. The signs help bring the casual "looker" to our website to view your home, cutting down on the folks who "just always wondered what this home looked like on the inside".

4. PURCHASE OFFERS

This is what it is all about. The offer. Consult your attorney when a buyer makes an offer. Many offers can be complicated and contain clauses that benefit the buyer. There is a review period, usually three days, in which either party can amend or cancel the offer. Know the market because the final purchase price isn't everything. Contracts that contain long escrow periods or contingencies based on the buyer selling their house may lock you in a contract for an expanded period. An escrow period shouldn't be more than thirty days. You may be able to receive other more lucrative offers based on the market. Be wary of contracts that contain more money but poor terms. Insist on a kick out clause that allows you to consider other offers if the buyer wants these contingencies. Don't be afraid to counter an offer with one that gets you more money, faster closing, etc., the negotiating process is part of selling a home.

5. USE A REAL ESTATE ATTORNEY

Experienced real estate attorneys will protect your interests throughout the entire selling process. Real estate attorneys help with complicated offers, act as escrow agents, review contracts and conduct the home closing process. They will also advise you what things you must, by law, disclose prior to the sale and can keep you from inadvertently discriminating against any potential buyer. Look under our services link for attorneys.

6. INSPECTIONS AND APPRAISALS

Standard real estate contracts allow for the buyer to inspect your home.....be ready. You may want a professional home inspection conducted before a potential buyer has one done. This is a good idea, as you will know what repairs you must make. Remember, small problems look big to the buyer.

Mortgage companies will order an appraisal to protect their client's interest by making sure your home is worth the price. A title search will be done at this time also, to check for any liens against the property. These are the buyer's responsibility. The mortgage company will issue a commitment with conditions that both buyer and seller must adhere to.

7. CLOSING

Usually 30-45 days after signing the contract comes the closing day. This is when the buyer does a "walk thru" of the home to assure agreed repairs are completed and/or that the home is in the same condition it was at the contract signing. All monies will be collected, loans will be paid, the deed transferred and title insurance will be issued insuring a free and clear title.

8. CONCLUSION

This guide is a general overview of the home selling/buying process and is intended to inform the seller/buyer of the steps and length of time involved.