When is the best time to list my home?
The best month to list a home in DFW depends on your specific neighborhood, but the best time to list a home in DFW tends to be the spring months. If possible, I always recommend that my clients list in the spring.
How to prepare my home for pictures/listing?
It’s best to think of your listing photos as an interview with potential buyers, it is crucial to set a great impression to entice buyers to schedule showings. Here are my tips to get your home ready for photos & showings:
1)Remove all personal photos, replace them with more objective decorations. It’s important that buyers can imagine themselves living in the home, seeing photos of the current family that lives there can be distracting.
2)Open blinds and window treatments to allow as much natural light in as possible. Lots of light makes a home appear brighter, larger, & more open.
3)Remove any toys or sports equipment in your front or back yard.
4)Make sure that your landscaping is well maintained prior to taking photos and while your home is on the market.
What documents are included in selling?
1)Listing agreement: Your listing agreement will include your realtor’s commission, your home’s list price, as well as any items attached to your home that you plan on taking with you when you move (Exclusions)
2) Seller’s Disclosure: Your realtor will provide you with a seller’s disclosure to complete & sign. This disclosure is a packet where you disclose the conditions & equipment of your home to the best of your knowledge.
3)T-47: The T-47 form acknowledges any changes that have been made, if any, to the layout of your home since you bought it. The T-47 must also be notarized in order for the title office to accept it once your close on your sale. The T-47 form is to accompany your home survey if you have it, which you would have received when you purchased your home.
How much is my home worth/how to decide?
Website like Zillow often give an estimate as to how much a home is worth, but these numbers are not entirely accurate. These websites do not factor in the upgrades, (or lack thereof) that a home may have, as well as other factors that can heavily affect the value of a home. After looking at the sales prices of homes in the neighborhood, I always visit a potential clients’ home before suggesting the list price.
The buyer’s agent receives 3% of the sale of your home, the listing agent will usually take up to 3% out of the sale. So, the commission found on your listing agreement will usually come to about 6% as the total.
Should I be present when buyers look at my house?
Never, you should always leave your home prior to any showings. You can require an amount of time to be given notice before any notice, this can give you enough time to tidy up & turn on all lights for the potential buyers coming to see your home.
How long will it take to sell my house?
How long to expect to sell heavily depends on the time of year & on the market. The national year-round average is 100 days on market. The aver days on market for winters in DFW average: 55 days, summers average 35 days.
Flexibility and showings?
It’s hard to expect to sell if the house is only available for showings for 2 hours a day. Try to make a schedule that is easy for you and buyers, many buyers look for homes during the week. If you can, it’s best to have the home tidy before you leave for work so that you can accept showing requests without coming home to clean up.
What if I get bad feedback and When should I drop my price?
If you receive negative feedback after a showing, it’s important to evaluate whether the buyer’s comments are regarding aspects about your home that are within your control, or if the buyer felt negatively about something outside of your control. For example, you have no control over whether someone doesn’t like your neighborhood. In that case, you may want to consider adjusting your price if you receive consistent negative feedback. When I notice consistent negative feedback with one of my listings, I sit down with my clients and discuss whether to adjust the price or to do any renovations.
Price adjustments should be considered if you are not willing to make any repairs or upgrades that are causing negative feedback or slow showing traffic.
How do I decide between multiple offers?
When I receive more than one offer on a listing, I ask for everyone’s best & final offer. This will speed up the negotiation process. Your realtor will be able to explain the benefits or the complications that come with each offer you receive. Your realtor will help you decide on the best offer to accept considering your specific needs.
If I accept one offer, can I accept a back up if the first falls through during option period?
During the option period, the buyer can back out, but the seller cannot. Inspections are scheduled during the option period, if the buyer comes across anything that they would like repaired, this will be negotiated during the option period. The seller is not allowed to back out during the option period, but they can accept back-up offers in case any thing falls through during the option period, such as a disagreement on repairs needed.
How does a lease back work?
If you need to stay in your home for an amount of time after your close date, you can work a “lease-back” with the buyers. During a lease-back, the seller becomes the tenant and the buyer becomes the landlord, the seller and the buyer will come to an agreed upon price per day for the duration of the lease-back.
How does a contingent offer work?
A contingent offer is submitted by buyers who need to sell their current home before they can close on a new home. If the buyer fails to sell their current home by a certain time, the contract will be terminated.
Offer accepted- closing
What is the option period?
The option period is the time between executing an offer and the time that the contract goes into pending status, this usually lasts around 5-7 days. During the option period, the buyer will schedule their inspection and decide if they will ask for any repairs.
Can I back out?
The seller cannot back out during the option period, but they can accept any backup offers they receive in case the buyer backs out.
What if the buyer asks for repairs?
When a buyer asks for repairs on any of my listings, I often have my client offer money in lieu of repairs, as it saves my seller time and trouble. If the buyer and seller cannot come to an agreement on repairs, the buyer can back out of the offer during the option period
What if my house doesn’t appraise?
When a house appraises below sales price, you have a few options. You can order a new appraisal and see if comes up to sales price. Oftentimes, when there is an appraisal issue, the seller & buyer have to come to an agreement to bring the loan amount closer to the sales price. This could mean more cash down from the buyer, or it could mean lowering the sales price.
What do I bring to closing?
I always let my sellers know to bring their government ID, wiring instructions or a voided check to let the title office know where they’d like the proceeds to go. Your spouse will usually need to come to closing with you, unless you are selling the home on your own. You should also bring keys to the house, as well as any garage openers so that the buyers can pick them up with they close.
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