Selling your property is a big move. Whether you decide to use a real estate professional or get to the closing table by listing for sale by owner (FSBO), it’s a big decision. Look no further for our top tips on how to sell a house by owner in San Antonio, Texas.
If you are using a real estate agent, you can get your San Antonio home under contract fast and easily move into your next dream home.
Why FSBO?
Although selling your home without a professional is uncommon, it still can be done. However, there are pros and cons to selling in this unconventional fashion.
For starters, FSBO sales allow the seller to save on the listing agent commission. Of course, you will still need to pay the buyer’s agent commission, but it will save you some coin on the seller’s side. Selling for sale by the owner is also a great way to ensure you control the sale.
The cons of selling FSBO include the following:
- Statistically, FSBO homes are undervalued and sell for less
- Typically FSBO sales have a slower closing process
- You need to complete extra work the agent would typically take care of
- Difficulty negotiating
- Marketing challenges
Selling FSBO in Texas
It’s no secret Texas has become a real estate hot spot in recent years. Individuals have been flocking to the state for more comfortable weather conditions and a break in taxes. But, knowing the market is likely in your favor, you might wonder, “How do I sell my home by owner?”
1) Prepare your house for sale by paying attention to any repairs your home may require. You may want to get a home inspection done before you list to be more aware of the fixes that need to happen.
2) Disclose any known issues with your property by filling out disclosure forms.
3) Stage your home to ensure you get top dollar for your property. Staging increases property value by about one to five percent and helps make homes sell faster.
4) Price your property to sell. A home that sits on the market for a long time notoriously has the issue of being priced too high. So if you place your home FSBO and it doesn’t get much action, that’s a good sign that you should lower the price.
5) Get professional photographs of your home to ensure your online listing appeals to buyers.
6) Market your property by doing online listings on popular real estate websites, place a sign in the yard, and be sure to get the word around that your home is for sale.
7) Negotiate offers, keeping details such as contingencies, earnest money, closing costs, and more in mind.
8) Propose your chosen title company to handle the sale (know that in Texas, it’s typical for the seller to pay the title fees).
9) Complete the finishing touches to the deal by ensuring the inspection and appraisal are complete, negotiate any results needed, complete the final walkthrough, and finally close on your sale.
