Selling A House Without A Realtor: Should You Do It? in Lake Dallas, TX

Published Dec 24, 21
6 min read

How To Sell Your House (Agents Don't Want You To Read This) in Lake Dallas, TX

If you're thinking about listing your home for sale by owner you're probably wondering what paperwork you need to sell a house without a realtor and who handles the sales contract or purchase agreement. Here's what you need to know. Typically, if you want to sell your home, one of the first things you would do is contact a real estate agent or brokerage to get your house listed.

But these days, more and more sellers are choosing to sell their homes without the help of a realtor. While it may seem like a difficult task, especially for those without any experience in real estate, it’s entirely possible to do. It is essential, however, that you make sure you go through the process thoroughly and correctly to avoid any misunderstandings or conflicts with potential buyers.

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But it should be noted that it’s no easy task, especially in the case where neither the seller nor the buyer is being represented. If this situation applies to you, make sure to be thorough, do your due diligence, and contact a lawyer for help with any legal matters that arise.

How To Sell Your House Without A Realtor - Real Estate Witch in Lake Dallas, TX

hash-markWhy Sell Your Home Without a Realtor? The biggest advantage of selling your home without the help of a real estate agent is that you can avoid paying their commission. Typically, you would pay about 6% of the sale price of your home to cover the agent’s commissions. This amount is usually split evenly between the buyers and sellers agents.

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Think about it; if you sell your property for $300,000, that’s $9000 extra dollars in your pocket! It’s also a great way to ensure that you have complete control over the sale yourself. You can choose how you market your home, how you show it, how much you sell it for, and how you negotiate, without the input of a real estate agent.

But the good news is that there are plenty of resources out there to help you with organizing the sale process of your own home. For Sale By Owner houses typically fall through more often than those sold by an agent, usually because the owners don’t know how to correctly price, negotiate deals, and market their home.

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As with anything, there is a downside to selling your home on your own. It’s likely to be a much more difficult task than you may think. Seller’s agents do a lot of hard work to market and finalize a sale, so be prepared to put in some serious time if you plan on going it alone.

With an agent, your house will be put on the Multiple Listing Service (MLS). Plus, agents provide access to an extensive network. If you don’t have this advantage, you may need to put some thought and effort into how you make your property visible to potential buyers. Another glaring issue is that, when buyers know a home is for sale by the owner, they may try to negotiate lower than they typically would otherwise, and without any representation yourself, you might find yourself getting swindled! On average, homes that are sold by their owners fetch less at the end of the deal than they would have if there had been a seller’s agent involved.

It’s also essential to do a lot of research about the laws and regulations in your area. You should be aware of everything that is legally required of you as a seller, and make sure that you have all the necessary legal paperwork ready before you consider inviting buyers to view your home.

Buying or Selling a House in Texas without a Realtor - The ... in Lake Dallas, TX

Not making the home accessible when the buyer’s schedule dictates. The home was not appropriately prepared to sell. This can include fixing items that should have been repaired as well as knowing how to stage a home properly. The home was not marketed properly, including presentation, photography, and internet exposure.

Not knowing how to negotiate home inspection repair requests. Being stubborn enough not to offer a buyer’s agent a commission if they bring a buyer. hash-markHow To Sell A House By Owner One of the first things you’ll need to figure out is how you’re going to market your property.

If you live in a busy neighborhood or on a street where plenty of people drive past, merely making use of for sale by owner signs may do the trick. If you want to spend the money, it is possible to pay a fee (usually a few hundred bucks) to list your home on your local MLS.

Buying A House Without A Real Estate Agent: Should You Do It? in Lake Dallas, TX

If you have a great backyard or a beautiful view, those are important selling points that can really make a difference. If you don’t live somewhere where sticking a sign on your front lawn is likely to work, try advertising online, on social media, or hosting an open house. Be careful of your safety if you decide to let strangers into your home.

Once you’ve figured out how to find buyers, the next step is to get your home ready to show. Clean it thoroughly and keep it organized, it’s also a good idea to remove pictures or personal momentums to help anyone viewing the home to imagine themselves living there. Picture a show home, and then try to make your house look as close to that as possible.

This is important, as without using a competitive market analysis (CMA) or the help of your agent, you’re at a disadvantage in knowing what you can actually expect to sell for. It may be a good idea in the case of For Sale By Owner homes to hire an appraiser to tell you how much to list your property for.

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You don’t want to waste time, turn buyers off, or look unprofessional by being disorganized. If you manage to get through all the steps of selling your home without the help of a real estate agent, make sure that when it comes to closing, you have legal representation. Closing is a legal affair and should be handled by either a closing attorney or a title agent.

Be prepared as the biggest obstacle during closing tends to be the buyer’s mortgage. If you are selling your home yourself, it’s essential to do your due diligence early on and make sure that a buyer is pre-qualified for the loan. This way, you reduce the chances that your will hit a bump in the road at closing where there are issues with the mortgage.

However, people often struggle with paperwork that usually requires a lawyer, something that a brokerage will provide for you. If you do not have a real estate agent and are selling your own home, you may be able to find a free printable real estate purchase agreement pdf online. It is advisable to seek legal counsel when it comes to a purchase agreement or sales agreement, as these legally binding contracts need to be accurate to avoid any misunderstandings or conflicts.