The Home Selling Process

6 Steps to Sell a Property in The DFW

Step 1: Decide To Sell Your Property

Are you wondering if it’s the right time to move? There are several factors that can lead to a move: growing family, relocation, new job, better schools for kids, downsizing, foreclosure, among other reasons. It’s imperative to recognize your reason for moving and have clear what will be your next steps after you sell your property.

The real estate market is constantly changing, and being a seller alone is not easy. There are hundreds of reasons why you should consider finding a real estate expert to help you decide in one of the biggest steps of your life. Hernan Romero, Real Estate Broker at Clever Realtors, LLC can help by creating a personalized plan right for your needs.

Step 2: Consult with a Real Estate Expert!

Let’s get together. We will be discussing your reasons for moving, what the home-selling process looks like and the requirements of the sale. I will explain the
information about brokerage services and how it works in Texas. The sooner we meet the better prepared we’ll be to assist in the sale of your home – we love
setting expectations.

 

Here is a list of things a real estate agent will do for the sellers:

·     Discuss the goals you have and help you understand the home selling process

·     Prepare a listing presentation with a current Comparative Market Analysis of the area

·     Advise for repairs, upgrades, and staging

·     Present your marketing options and give you recommendations based on your goals

·     Establish showing instructions for buyers and keep track of showing activity

·     Discuss different types of buyers financing

·     Explain the residential contract, contingencies, appraisal process and pitfalls

·     Schedule photographers and house cleaners

·     Gather and share feedback after showings

·     Present ALL offers and explain the pros and cons of each offer

·     Send contracts and amendments for signature

·     Make sure that you are complying with the contract.

·     Help you, protect you and be loyal to you

Step 3: Market Analysis, Pricing Recommendation & Strategies

We will work with you to create an all-encompassing strategy for the sale of your home. I will educate you on the current marketplace and listen to your specific situation to better understand your needs. Through a Comparative Market analysis, I will make recommendations on pricing that will ensure you take home top dollar within a time frame that makes sense for you. I will compare recent sales to help you understand trends in your neighborhood.

Step 4: Sign The Listing Agreement

In the listing agreement you specify the way you will be listing your property. The agreement talks about the responsibilities of each party, the seller and the listing agent. You will also be required to provide a Seller’s Diclosure Notice and Lead Based Paint Addendum if applicable.

Step 5: Prepare Your Home

It’s time to prepare your home for sale by cleaning, de-cluttering and paying special attention to curb appeal. I understand that it can be tough to sell a home the way you live in a home – don’t worry, I can help with that as well! I will offer recommendations as well as professional staging advice for your photo shoot and showings. We’ve created a pre-sale checklist to make this easy.

Step 6: Professional Cleaning Service and Photographers

It is recommended to use a Professional House Cleaning Service like X-Act Care before having your house on the market. Since we are affilliate to this home cleaning service, we can find you a great discount. For bookings please go to https://x-actcare.com/book-now/.

After the house cleaning and decluttering, your real estate agent will hire a professional photographer to take pictures of your home. It takes a day to get the pictures back.

Step 7: Marketing & Showings

Listing Distribution

Let’s show off your home! Since most buyers spend time searching for their next home online, your listing will be posted to hundreds of websites. I will get the word out through social media, flyers, and promotions. When the calls roll in, I will work to schedule showings and will keep you informed every step of the way.

We use several marketing strategies. The first is the MLS distribution. Through our MLS, we can diseminate the information of your property to a bunch of other websites.

Marketing Campaigns

We create marketing campaigns like Facebook ads, Google ads, Property boost and email outreach. Thousands of home buyers will start noticing your home and will take a look at it through an online virtual tour.

ShowingTime

We use a centralized showing system called Showingtime. Through showingtime you will be informed in real time if an appointment gets requested through text and email notifications.

Open Houses

We will conduct several open houses when we consider necesary, normally during the weekend when there is more traffic.

Step 8: Reviewing Offers and Getting Under Contract

Negotiation

Once I start receiving offers, I will diligently work to learn as much as possible about the prospective buyers so that we can negotiate with confidence. We’ll take into consideration your preferred timeline, buyer’s financial situation, type of loan, appraisal contingency and other terms that will help progress a strong transaction.

Option Period

The option period is an optional and highly recommended set of days that buyer purchases for a nominal fee when they make an offer on a property in order to make sure the property doesn’t have any adversity or major repairs to be done. It normally ranges from 0 to 7 days, but the least amount of days, the more attractive the offer is.

Home Inspection

Normally buyers pay for inspection once the contract has been executed (an offer has been accepted and delivered). A home inspection is not required by the lender but is highly recommended to the buyer. Home inspections happen within the first days of the option period. If buyer finds major problems on the subject property and still is within buyer’s option period, expect the buyer to renegotiate the terms on the purchase. Buyer may ask for repairs, for a seller’s concession, or lower the sales price of the property. However, it is up to you to accept or reject the requests. It’s difficult to negotiate repairs that were visible when buyer visited the property or repairs mentioned in the seller’s disclosure.  That’s why a good seller’s disclosure will come in handy.

Appraisal

The appraisal is an opinion of the value of your home. The appraisal is required by the lender, if buyer pays in cash, buyer is not required to get an appraisal. In Texas, appraisals are conducted by a licensed home appraiser as mandated by the Texas Real Estate Commission. Appraisal can be ordered as soon as you submit the contract to the lender. However, if you have an option periods in place, make sure that you have checked the home inspection report and you are ready to move forward with the conditions of the property. Also make sure that any repairs paid by the seller are in writing. 

Title Policy

Title insurance protects against financial loss that could be caused by problems with the property’s title. Title insurance companies defend against lawsuits that challenge the title and pay the insured up to the policy limit if a covered loss happens. Although seller pays for title in about 70% of the transactions, there are transactions in which buyer pays for the title policy.

Survey

A property survey confirms a property’s boundary lines and legal description. It also determines other restrictions or easements included in the property. Survey can be paid either by buyer or seller and it is to be ordered within a certain period of days after the contract has been accepted.  Sometimes an old survey can be sufficient if the property has not had substantial structural modifications. When using a previous survey in a transaction, seller must sign a T-47 Affidavvitt to declare that the house has not had substantial structural modifications within the period of time they lived there.

Utilities

it is wise to schedule ALL utilities to be turned off by closing. It is not difficult to transfer them into your name as long as the service has not been terminated. Read  the last page of the real estate Sellers’ disclosure and look up the names of the utility companies that the seller has used. Once you have the names, a quick online search should get you where you need to go. 

Final Walkthrough

This is the last visit you will schedule to see the property right before closing the deal. This is an opportunity to verify the conditions of the property as it should be quite similar than the first time you saw the property. If you requested repairs, this is an opportunity to check that all repairs have been satisfied. 

Closing Date

A buyer should bring a valid form of identification, proof of funds, and any other necessary documentation to a closing meeting. Before signing the mortgage note and deed, they will be asked to carefully read the closing disclosure, verifying the loan estimate and settlement statement.

The home-buying process may appear to be lengthy and complicated, but education and preparation can assist Texas residents in finding the best homes for their needs.

Multiple offer situations

The market is constantly shifting. That’s why it is recommended to follow the advice and opinion of a real estate agent to understand what to do under multiple offers. adequate our offer to be more competitive. A lot of homes are being sold for list price or higher. Just be patient and expect your real estate agent to advice you on that matter.

Hernan Romero Screenshot

Hernan Romero

Real Estate Agent

North Dallas| Texas
4144 N Central Expy Suite 600, Dallas, TX 75204

Contact Me

Reach out to me if you have questions


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