How to sell a house by owner in Texas in 2022
A house sale can be a complicated affair. It can be more daunting if you do it for the first time. There are many formalities to be taken care of. Many documents are to be processed. Any mistake can be costly and affect your sale adversely. There is also the stress of dealing with strangers.
Traditionally people approached realtors to conduct a house sale. This is easier, but the realtor commission in Texas ranges between 5.5%-6%. This means the higher the value of your home the more the commission you spend. Let’s look at some steps that are necessary when you think of ‘how to sell a house by owner in texas’.
- Spruce up your home
Your house needs to be ready for sale. Undertake any necessary repairs. Declutter your home and take out unnecessary decorations. Put a fresh coat of paint in a neutral color. Depersonalize the house. This means removing all your photographs and other personal artifacts from around the house.
The buyer needs to imagine the house as his own. Sites like Houzeo allow the buyers to give feedback on your home. You can use this feedback and make the necessary changes to your home.
You don’t need to spend vast amounts on repairs and renovation. You may not get the desired returns.
Fixing your roof, updating your kitchen, and repairing your foundation can make the house look more attractive to buyers. A good backyard area with seating arrangement will be invaluable considering the warm Texas weather. Replace your old HVAC or at least get a tuneup.
- Get your home photographed and staged
It is a good idea to get a professional photographer to photograph your home. These photos can be used for listing. If you have already moved to your new home then your old home will be empty. You can hire professionals to stage your home. This will cost you some dollars but will greatly accelerate the sale process.
- Fix a price for your home
This is the trickiest part of a home sale. The price you fix should be neither too high nor too low. If you list your home at a very low price then you end up losing money. Too high a price and your home will fail to attract buyers. This will force you to reduce your price creating doubts in the minds of potential buyers. Taking a look at the listings of similar houses in your area could help you to arrive at the correct price.
Houzeo shows you the price of nearby homes in your area. Still, some amount of negotiation is inevitable. Sites like Houzeo make this process easier with their online process. Your price will also depend on the state of the real estate market in Texas. Texas is still a seller’s market. Houses in Texas are in great demand.
- The paperwork
Do some research about the documents required for house sales by owners. If you hire an agent he will do all the paperwork. If you are selling your house yourself you need to arrange for these documents. The following documents are necessary for Texas house sales.
- Sellers disclosure notice
Sellers disclosure Texas statement lists the issues with your home and its systems. This document also mentions any issues with your major appliances.
- Flood zone statement
In the case of some federally backed mortgages, your buyer’s lender may need some information about the property’s flood risk.
- Lead-based paint disclosure
Under federal law, you have to disclose information about the risks of lead-based paint in homes constructed before 1978.
In addition to the above, you will require lots of other documents. Sites like Houzeo provide you with all the information about the necessary documents.
- Where to sell your home?
As mentioned earlier a realtor has been the traditional choice for home sales. But all that is changing fast. If you want to save on the steep realtor commission then you can list your house on a Texas flat fee MLS listing company. MLS listing companies may have hidden fees. Make sure to do proper research and read the reviews about FSBO and Flat-Fee MLS companies.
You can also go 100% For Sale By Owner (FSBO). But it will take lots of time and effort to get your house sold. You will have total control over the sale process. You will have to handle all the aspects of the house sale from listing to closing yourself. Many people find this overwhelming.
If you are going for FSBO then you will be allowed to put up a yard sign regarding the same. But do not expect too many buyers as there will be less exposure for your home. You can also post your home on social media like Facebook, Instagram, Nextdoor, and Twitter to widen your reach. FSBO listing websites like Houzeo will allow you to list your home within a day.
- Negotiate the offers
Once you have listed your house, you will receive plenty of offers. You will have to choose the best offer available. Houzeo shows you all the offers you have received. Houzeo also allows you to compare your offers. You can also put a counteroffer and request the highest offer on Houzeo.
- Closing the deal
Once you have settled in on the price you can close the deal. Closing the deal involves paperwork, and you will need professional help. Houzeo provides you with settlement agents who will assist you.
A technology-driven For Sale By Owner website like Houzeo offers many advantages. Listing on Houzeo is easy. You can do it from the comfort of your home. You can make any changes to your listing as and when you want. The whole process from listing to sale is transparent. You get guidance in every step whether it is listing or filing the necessary documents.
You can schedule your house showing appointments according to your convenience. There are no hidden fees or commissions in Houzeo. Houzeo gives you tools and techniques accessible only to professional realtors.