Are you considering selling your Texas home under the For Sale By Owner (FSBO) process? Do you want to learn how to sell your house without a realtor? Then, you’ve come to the right place.
Here, we will cover the steps necessary to find home buyers without the help of a real estate agent. That way, you can avoid paying the real estate agent commission fee during the home-selling process.
However, you will likely need to pay the commission fee of the buyer’s agent. Nonetheless, FSBO sellers can strive to get the highest return on investment (ROI) without the help of real estate professionals.
The typical payment for realtors is 6 percent of the home sale price. Half goes to your listing agent. The other 3 percent goes to the buyer’s agent. If you sell your house without a realtor, you can save 3 percent of your home purchase price spent on real estate commission fees.
Yet, you’ll need to take on more work and time to market the property and find potential buyers in Texas. Are you ready to find out how to sell your house without a realtor? Then, let’s get started!
How to Sell Your House Without a Realtor
If you’re an experienced home seller and have worked in the housing market to complete several real estate transactions, you can try selling your property without a realtor. Yet, you should first assess the pros and cons of selling your residence without a real estate agent.
The main benefits of selling a house without a realtor include:
- Saving on realtor commission costs
- Having more control over the home sale
- Gaining a more personal experience from the real estate transaction
You won’t need to work with middlemen and find buyers more directly. You will also have more control over marketing the property and what offer to take. Furthermore, 50 percent of FSBO sellers have sold their property to individuals they knew and had a more personal experience.
The disadvantages of selling a place without a listing agent are:
- A large amount of work involved
- The potential to end up with less money for your home sale
- The difficulty of handling real estate issues without professional help
- Missing out on comparative market analysis from a realtor
In 2022, the median home sale price of an FSBO house was $120,000 less than realtor-assisted home sales. Further, pursuing a home sale without realtor help is time-consuming and may feel like a full-time job.
So, should you sell your house now? The current real estate market is still going strong for sellers. However, home prices are expected to decline in a couple of years. As such, it’s the right time to put your house on the market right now.
Have you decided to move forward with an FSBO sale? You will need to pick a realistic listing price by yourself. Home sellers will need to consider the costs of similar houses in their neighborhood when picking an asking price for their FSBO home sales.
Homeowners will also need to prepare their houses for sale through renovations, a decluttering process, and general repairs. You should also consider completing landscaping work to improve the curb appeal of your home and entice buyers.
You will need to complete all of the marketing and promotional work for the home sale by yourself. You should promote via social media websites and list your home on Zillow, Trulia, and Realtor.com. An MLS listing can also help put your property in front of more buyers.
Marketing Your House Without a Realtor
When you have had professional photos taken of your home and picked the selling price based on market value, it’s time to promote your home sale on social media sites. Post the relevant information on Facebook, Twitter, Instagram, and other sites.
You should also put up a sign in your front yard advertising the home sale. Furthermore, list your home on a multiple listing service (MLS) in your neighborhood. Don’t forget to list your house on Zillow and other real estate websites along with Craigslist.
Lastly, you should schedule open houses and promote them online and via flyers. The best time to hold an open house is usually in the afternoon on a Saturday or Sunday.
You should also begin scheduling walk-through appointments with potential buyers. Before you know it, you’ll get offers on the table and start signing a home sales contract.
Renovating Your House
When selling a house by owner, you should consider whether to renovate your property or sell the residence in its as-is condition. You can get a cash offer from a cash home buyer who is likely to purchase the place in its as-is state. Otherwise, you likely need to renovate your home or at least complete important repairs.
A home inspection may help you determine what type of repairs are necessary. The most beneficial remodeling projects are usually kitchen and bathroom remodels, which lead to the largest ROI.
You will also need to declutter the home and stage the furniture to look more attractive to potential buyers. Most importantly, don’t forget to deep clean the house and remove all grime. If you have some extra funds, consider hiring a cleaning service to ensure your property is spotless.
You can also improve curb appeal by adding some flowerpots and bushes to your front yard. Pull out any weeds and paint the front door. Get rid of that musty, old welcome mat and put out a new one. Once these steps are done, you can get professional photographs taken and start marketing the property.
Documents Needed to Sell a House Without a Realtor
You may need to work with a real estate attorney to ensure that you have filled out all the documents necessary to sell a home. An attorney can help you sell your property legally by signing all required paperwork.
The typical documents you need to sell a house without a realtor include:
- A title search report and the title
- Title insurance
- A home appraisal
- A home inspection report
- Records of all renovations completed
- The warranty for new appliances
- The original sales contract
- Certificate of occupancy
- The purchase and sales agreement
- The property survey
- Mortgage statement and lender documents
- Utility and property tax bills for the buyer
- Homeowners association agreements
Ensuring you have all the documents necessary for a legal real estate transaction will keep the buyer at ease. Staying organized will ensure everything goes smoothly. Depending on the state you’re in, you may find specific state requirements for the real estate market. Check with a Texas real estate lawyer to ensure you’re following all mandates.
Closing Process
The closing process when selling an FSBO home involves 12 specific steps. The 12 steps to close on a home sale include:
- Opening an escrow account
- Completing a title search and gaining title insurance
- Hiring a real estate lawyer
- Negotiating closing costs and reducing junk fees
- Conducting a home inspection
- Completing a pest inspection
- Renegotiating the offer, such as due to the home inspection report
- Paying off the mortgage
- Removing contingencies in writing
- Completing the payment transaction through the escrow account
- Undergoing a final walkthrough of the house
- Reading through and signing all paperwork on closing day
The closing process generally lasts anywhere from 30 to 45 days. However, if you find a cash buyer, you’re likely to close on the sale within two weeks since real estate investors or home cash buyers don’t need a mortgage loan approval.
Costs Associated With Selling a House
Selling a home includes numerous costs. You can save up to 3 percent on realtor commission fees with an FSBO sale. However, you will need to cover the costs of pre-inspections, which range from $300 to $500.
If you hire a cleaning service to deep clean your home, expect to pay anywhere from $200 to $400. The average amount spent on repairs and renovations ends up at $4,000. Landscaping costs are generally much lower at around $150.
If you need to hire a stager and rent furniture, you may end up paying up to $2,000 for one month. Professional photography tends to cost around $200.
Other costs associated with selling property include the capital gains tax, a prorated property tax, and other closing costs like escrow fees and a brokerage fee. You should also account for moving expenses, which often reach beyond $2,000. These are the most common expenses of a home sale.
Conclusion
The information above should have explained exactly how to sell your house without a realtor. You will first need to renovate and repair your home to prepare it for the sale. You’ll also need professional photos of the property, which you will use to market and promote the home sale online.
Once you’ve found a buyer, it will take a month or longer to close on the real estate transaction. However, if you want to sell a house fast in Alamo Heights, you will need to reach out to cash home buyers in Texas.
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