Many considerations go into selling a house. From listing to closing, it can be difficult to stay on top of the many factors. Fortunately, sellers can have a positive experience with a little preparation. Here is a guide to selling a home in Fair Oaks Ranch, Texas.
Preparing Your House to Sell
Determine Your Home’s Value
About 22% of homeowners rely on online estimators
, called automated valuation models or AVMs, to tell them their home’s value. Another method to determine home value is a CMA, which is an analysis done by the realtor using market data and comparable homes. The Federal Housing Financing Agency’s calculator projects what a home is worth based on the average appreciation of all homes in the area. A home appraisal determines a specific home’s value at the current time and is the only valuation trusted by lenders. Knowing the value of your home will help you prepare for selling or refinancing your home or negotiating lower taxes.
Interviewing Real Estate Agents
Sellers are advised to interview at least three real estate agents before making a final decision. The realtor should have experience in your neighborhood and skill in marketing. When interviewing agents, you should ask many questions. It is also a good idea to look at their reviews, awards, and experience.
Upgrades to Improve Your Home Value
Upgrading your home can improve home value to an extent, but it is wise to be careful about what you renovate. Big renovations do not always add enough value to compensate for the expense. Some quick and easy upgrades which will boost value are fresh paint, hardwood floors, and curb appeal. The front yard is the first thing buyers see, and making it attractive can raise the value by 28%
. Quality hardwood floors are preferable to carpets, and a fresh coat of light paint can make a big difference in the feel and appearance of a space.
Staging Your Home and Taking Photos
Staging a house and taking photos is one of the most important steps to selling a property. Staging, or the preparation of a home for a buyer, involves arranging furniture, decorating, and cleaning. It is designed to appeal to the most people possible. Similarly, photos of the house can make all the difference in a sale. They are often the first thing buyers see and sometimes the only thing leading to a second look. Hiring a skilled photographer is an investment that pays off.
Selling Your Home
Open House & Virtual Tours
Open houses are days or slots of time when the house is open for anyone to come in and look. The idea is to increase the property’s exposure and get more people inside to look around. It is a good way to generate more attention and bring in more offers.
Virtual tours are slideshows or videos put online along with traditional photos. Many buyers like being able to look around the house before committing to an in-person tour. They are essential for buyers who are out of state or otherwise unable to visit in person. A virtual tour opens the door for more guests.
Cash vs. Traditional
A cash sale leads to a simple and fast transaction. It skips lending approval, appraisals, and various other aspects, closing the sale in a few days. However, some cash offers may be significantly less than the house’s value. It can also be difficult to find someone willing to pay in cash. Sellers can sometimes find cash buyers on websites or through a property investor.
The traditional method allows sellers to delegate the more complicated aspects to professionals. Realtors can help with marketing, listing, and negotiating. Traditional sales take more time than cash offers, but sellers will often make more money. There are also more necessary fees with the traditional method, such as agent commissions, appraisals, and more.
Many fees are included in the overall term ‘closing costs.’ Closing costs generally are 3 to 5% of the loan
and include title insurance, loan origination fees, and more. The current national average is 1.8%
of the sale price.
Frequently Asked Questions about Selling your Fair Oaks Ranch Home
How Long Does it Take to Sell a Home in Fair Oaks Ranch?
The average time a house spends on the market depends greatly on the state of the market and the location of the property. As of January 2023, Fair Oaks Ranch real estate spends 61 days on average on the market
How Can I Sell My Fair Oaks Ranch Home Faster?
There are many little things sellers can do to help their house sell faster. One of the most important ways is to show the house as much as possible. To do this, you should keep your house clean and presentable at all times. As mentioned before, curb appeal and top-quality photographs can help properties sell faster. Having a good listing price can also make a big difference.
How Can I Get the Most Money for Selling My Fair Oaks Ranch Home?
To sell your house for the most money, you should list it at a good time of year and a good time in the market at a strategic price that is not too high. Another way to get more money is to have a pre-listing inspection. This will look better to buyers, who will have assurance the house is in good condition. Cleaning your home can have a big effect on the final price as well. Sellers can also net more money by hiring an experienced realtor.
Is Staging My Home Worth it?
Almost all realtors believe home staging will help a house sell, and more than 65% of agents say
a staged home will sell for more money than an unstaged one. Some studies also say homeowners can sell their houses faster if they are staged. In general, staging is worth the time.
What If My Home Isn’t Paid Off Yet?
Even if your house is not paid off yet, you have the right to sell it when and to whom you want. However, your mortgage lender will receive revenue from the sale to pay off your debt before you receive your profit. The lender may also want to know something about the buyer.
What If I Have a Tax Lien to Satisfy?
Tax liens are documents saying a person has an unpaid debt. They can be federal, state, or city liens. If you have a tax lien, it will be paid out of the money from the house sale. Your profits will be what is left over.
, SABOR's 2016 Realtor of the Year, has a passion for fantastic service, inspired design, and creative problem-solving. She is the founder of The Graves Group, which for almost two decades has been in the top 10 out of 25 real estate groups. Her priority is helping each of her clients meet their goals and have a seamless experience. Contact Denise Graves
today about selling your Fair Oaks Ranch property.*Header photo courtesy of Denise Graves