The Basics of Selling a Home

The Basics of Selling Your Home

When the time comes, the decision to sell your home is often met with excitement and more than a little trepidation. How long will it take to sell? Will we get the price that we want for it? The good news is that with an experienced Austin real estate agent on your side, you can trust that your best interests are represented at each stage of the selling process. The agents at Domain Realty Austin have the expertise you need to make the process as straightforward as possible so you can focus on other aspects of your move. Many real estate firms in this area are only concerned with selling a home as quickly as possible, but we believe in working with the seller to achieve the optimal sale price and timing.

There are several important stages that you will go through when selling a home, and Domain Realty Austin has taken the time to break down this complicated process to give you a clearer idea of how your agent will help you:

Ready to Sell

The best thing to prepare your home for the market is to contact a Domain Realty Austin agent to facilitate the process and help you maximize your home’s selling potential. As trained and experienced professionals, our team of real estate agents are committed to representing your best interests and will listen to your specific needs and concerns. The Austin housing market is unique, and our agents understand how to attract new buyers and negotiate on your behalf.

Prepare your home for showings to other realtors and prospective buyers. First impressions are everything at this stage, and taking the time to declutter your house in a way that others can envision their belongings in the home is a great way generate interest in your home. The ideal presentation for your home is one that that feels tidy and cozy. Ask your agent about specific suggestions to make your home attractive for showings.

Asking Price

Many factors affect the listing price of a home, and sellers should expect their realtor to conduct a meticulous market analysis to develop the best strategy. The location of the house, as well as its condition, will affect the listing price, and our agents can determine the highest reasonable price based on the current state of the market. Austin is a rapidly changing city, and the supply and demand of homes in this area are continually fluctuating. It’s essential that you receive insight from not just a licensed realtor, but someone who understands the city’s inner workings to find the ideal buyer for your home. We know there are a lot of questions at this stage of the process, and we are ready and willing to help answer any questions you may have. As sellers, you should expect to receive as much for your home as the market will allow, and your agent can help you develop a realistic price-point to sell your home with success.

Receiving an Offer on Your Home

As offers are made to purchase your home, your agent will be diligently negotiating the best possible terms at the highest reasonable price. The process of managing a proposal is riddled with official terminology, paperwork, and varies by region. Understanding the intricacies of potential transactional issues at this stage is one the most significant threats to selling a home. Your agent will be able to navigate this process efficiently and promote your best interests when developing a contract with a pre-qualified buyer.

Usually, offers are made from one agent to another on behalf of the buyer. The proposal should include:

  • The price that the buyer is willing to pay
  • The amount of mortgage, if applicable
  • Closing dates and moving dates
  • Contingencies for purchasing the house, such as home inspections, loan commitments, and pest control inspections; this can include rodent, termite, well water, lead, radon gas, septic tank quality, among others

At this point, anything that is not agreeable to you within the proposed offer will need to be negotiated further. Counter-offers are relayed until a decision has been made that is equally acceptable to both parties, and the proposal can move forward. While counter-offers are being discussed, your agent will need to be in close contact with you to determine your level of satisfaction with any proposed changes. The time it takes to return a proposed amendment during this final negotiation process is critical to the success of the sale.

An Agreement is Made

After an agreement has been made, the buyer and seller will need to finalize the process by writing a contract, submitting a down payment, authorize building inspection dates, and approve other contingencies in the proposal. The expertise of your agent will be worth relying upon through this process, and qualities of the transaction differ by region. All provisions will need to be formally and legally written to ensure the contract is in your best interest. A local agent can swiftly guide you through this critical step and achieve this goal promptly.

From Contract to Closing

Deadlines are rapidly approaching at this stage of the transaction, and your agent will need to work closely with you to meet the seller’s obligations. The buyer is allowed a final walkthrough to determine that all the agreed-upon repairs have been made and that the house is still in excellent condition.

The Closing

The final step to selling your home is the closing when all parties sign the required paperwork, and the sale becomes final. Sometimes referred to as the settlement or escrow, this process can be completed in person or remotely by mail. If warranted, outside parties can be invited to review the final contract before signing, and your agent can coordinate a select service to assist you in this process.

After the parties have signed, the title to the property is officially transferred, and the buyer and seller exchange house keys for payment. Any transactional costs, such as title and tax adjustments, searches, mortgage credits, and prepaid taxes will be factored into the outcome of the payment you receive. The buyer’s title is then filed with local municipalities and you have successfully sold your home!

Contact Us Today

If you are looking to sell a home in Austin, turn to the professionals that you can trust. We have helped your friends and neighbors sell their homes and upgrade to the home of their dreams, and we are ready to help you as well! Call us at (512) 872-4211 to speak with one of our agents today.

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