Why do I need a real estate agent? A real estate agent is like your personal guide through the home buying or selling journey! Whether you’re looking for your dream home or trying to get the best price for your property, an agent brings expertise, local market knowledge, and negotiation skills to the table. They take care of the paperwork, marketing, and details so you can focus on what matters most to you. Plus, having someone in your corner ensures you avoid potential pitfalls and make confident, informed decisions. It’s all about making the process smoother and stress-free!
BUYERS
What are “closing costs”?
Closing costs are the various fees and expenses that come with finalizing a real estate transaction. In Texas, these costs typically include things like title insurance, appraisal fees, loan origination fees, attorney fees (if applicable), recording fees, and prepaid expenses like property taxes and homeowners insurance.
For buyers, closing costs are usually about 3-4% of the purchase price, depending on factors like the loan type and local taxes. We’ll go through a detailed breakdown when the time comes, so you’ll know exactly what to expect and can budget accordingly. Transparency is key, and we will be here to walk you through every step!
How much compensation is charged?
Compensation is a negotiable percentage of the final sale price of your home, which is standard in the industry.
This covers the expertise and resources we bring to help you find your new home for the best price possible through skilled negotiations. We give you access to systems, such as automated emails, to help identify homes that meet your criteria and are within your price range so that you don’t waste time looking at homes that are not right for you. We are committed to providing exceptional value and would be happy to discuss a clear breakdown of what’s included in our services!
Do I need a home inspection, and who pays for it?
Yes, we highly recommend always getting a home inspection! Think of it as a check-up for the home to ensure there aren’t any hidden issues that could surprise you later. A professional inspector will evaluate the property’s structure, systems, and safety features, giving you peace of mind about your investment.
As for who pays for it, the buyer usually covers the cost, which can range from $300 to $600 depending on the size and age of the home. It’s a small price to pay for potentially saving you
thousands down the road and ensuring you’re making an informed decision. We are happy to walk you through the process and provide a list of licensed inspectors.
Do I need a pre-approval letter?
Yes, getting a pre-approval letter is a smart step! It shows sellers that you’re a serious buyer and lets you know exactly how much you can afford. Think of it as your golden ticket to start house hunting with confidence!
A pre-approval not only strengthens your offer in competitive markets but also helps you stay focused on homes within your budget. Plus, it speeds up the process once you’re ready to make an offer. If you need help connecting with a trusted lender, we are here to guide you!
How long does it take to close?
The time it takes to close on a home can vary, but on average, it’s about 30 to 45 days from when your offer is accepted. Several steps happen during this time, like finalizing your mortgage, completing inspections and appraisals, and making sure all the paperwork is in order.
Every situation is unique, though. If you’re paying cash, the process can be quicker. If there are delays, like repairs or additional negotiations, it might take a bit longer. Don’t worry – we will keep you updated every step of the way to ensure everything moves as smoothly as possible!
What is the option period and fee?
The option period is a short window of time, typically 10 to 14 days in Texas, where buyers have the opportunity to do inspections, negotiate repairs, or even back out of the contract for any reason without losing their earnest money. This is an unrestricted right to terminate the contract.
To secure this option period, buyers pay a non-refundable option fee, usually a few hundred dollars, depending on the property and market. Think of it as a ‘safety net’ while you make sure the home is the right fit. If you move forward with the purchase, the option fee is often credited back to you at closing.
It’s a key part of protecting your investment, and we will help guide you through it!
SELLERS
What should I do to prepare my home for sale?
Getting your home ready to sell doesn’t have to be overwhelming! A little preparation can make a big difference in attracting buyers and getting top dollar.
Here are some steps to get started:
- Declutter and depersonalize: Pack away personal items and excess clutter to help buyers envision themselves in the space.
- Deep clean: A sparkling clean home makes a great first impression. Don’t forget windows, carpets, and those hard-to-reach spots!
- Tackle minor repairs: Fix leaky faucets, squeaky doors, or chipped paint. Small details matter!
- Boost curb appeal: Spruce up your yard, plant fresh flowers, and make the entryway inviting—it’s the first thing buyers see.
- Stage your home: Arrange furniture to showcase your home’s best features and create a welcoming feel.
We will also help by providing specific tips tailored to your home and connect you with trusted pros if needed. Together, we’ll make your home shine!
Should I make repairs or sell my home as-is?
Deciding whether to make repairs or sell your home as-is depends on your goals, timeline, and budget.
Making repairs can help attract more buyers, increase your home’s value, and potentially sell it faster. Fixing small issues like leaky faucets, chipped paint, or broken fixtures can make a big difference. If there are larger repairs, like a roof replacement or foundation issues, we can discuss whether it’s worth tackling them or adjusting the price instead.
Selling as-is is a good option if you need to sell quickly or prefer not to invest in repairs. Keep in mind, buyers might expect a discount to cover potential fixes.
Every home is different, and we are here to guide you through the pros and cons based on your situation. We’ll find the right approach to meet your needs!
Should I be present for showings?
While it might feel tempting to stay during showings to answer questions, it’s usually best for sellers to step out. Here’s why:
Buyers often feel more comfortable exploring a home freely and imagining themselves living there when the current owner isn’t around. It helps them connect emotionally with the space without feeling rushed or observed.
Don’t worry, though—we will handle everything! We will provide feedback from each showing so you know how it went and what buyers are saying. Your job is just to relax and let us take care of showcasing your home in its best light!
What are the costs associated with selling my home?
Selling your home does come with some costs, but understanding them upfront can help you plan better. Here’s a breakdown of the typical expenses:
- Real estate agent compensation: A negotiable percentage of the sales price. Remember that there is typically a listing agent and buyer’s agent in each transaction. In our Listing Agreement we will agree on a fee to pay for our listing services, as well as discuss the option of offering compensation to buyer’s agents.
- Repairs and staging: If you decide to make repairs or stage your home, these costs can vary but can help boost your sale price.
- Closing costs: These might include title insurance, escrow fees, and property taxes. Sellers in Texas typically pay around 2-3% of the sale price in closing costs.
- Payoff of existing mortgage: If you still owe money on your home loan, the remaining balance will need to be paid off at closing.
- Optional extras: Some sellers offer incentives, like covering a portion of the buyer’s closing costs or purchasing a home warranty.
We will walk you through all of these details and provide an estimated net sheet, so you know exactly what to expect and how much you’ll walk away with after the sale!
What happens during the closing process?
The closing process is the final step in selling your home, and it’s where everything comes together! Here’s what typically happens:
- Review and sign documents: You’ll review and sign the paperwork to transfer ownership, including the deed and settlement statement.
- Pay closing costs: Any agreed-upon costs, like title fees or agent commissions, are settled during closing.
- Funds are transferred: The buyer’s lender transfers the funds to purchase your home, and your mortgage (if you have one) is paid off. Your equity is then provided to you by check or wired to your checking account.
- Title transfer: Ownership of the home is officially transferred to the buyer, and the title company records the sale with the county.
- Hand over the keys: Once everything is signed and recorded, you’ll hand over the keys, and the sale is complete!
The entire process usually takes about an hour, and we will be there to guide you and ensure it all goes smoothly.
