So, you’ve decided to sell your home in the Dallas-Fort Worth area. Congratulations!
This is a big decision, and it’s certainly not one to be taken lightly. There’s a lot that goes into selling a home, and it’s important to be prepared for everything that’s ahead.
In this article, I’ll give you a rundown of the home selling process so you know exactly what to expect when selling your home in the Dallas area.
Steps to Selling a House in Dallas-Fort Worth
A simplified guide
1. Decide to sell your home
2. Get familiar with and prepare the paperwork required to sell a home
3. Hire a Real Estate Agent
4. Find out how much is your home worth and decide on a home price
5. Get your home ready for sale
6. List you home for sale
7. Marketing and showings
8. Fielding Homebuyers Purchase Offers and Negotiations
9. Finalizing the Home Purchase Contract
10. Escrow and Closing
Home Selling Process. What does it take to sell a home in the Dallas area. Information for Home sellers presented by Oleg Sedletsky, Realtor in Dallas TX
1. Decide to Sell Your Home
Selling your home can be a big decision. After all, your home is likely your biggest asset. But there are a few things to keep in mind if you’re thinking about selling your home. First, it’s important to understand the market. Are home prices rising or falling in your area? What are similar homes selling for? An experienced real estate agent can help you assess the market and come up with a fair asking price.
It’s also important to consider the costs of selling a home. In most cases, home sellers will need to pay a real estate agent commission, as well as closing costs and other fees.
Next, you need to think about your timeline. Are you moving for a new job or to be closer to family? Do you need to sell quickly or can you afford to wait for the right buyer? Once again, your real estate agent can give you guidance on how to proceed.
And of course, it’s important to think about where you’ll move next. If you’re not moving to another home, you’ll need to find a place to rent or storage for all your stuff. So before you make the decision to sell your home, be sure to do your homework and weigh all your options.
Phew! Now that wasn’t so bad, was it? Just remember: as your Realtor® I’m always here to help. So if you have any questions about selling your home in Dallas – or about any of the paperwork involved – don’t hesitate to give me a call. I’d be happy to help!
2. Get familiar with and prepare the paperwork required to sell a home
Selling a home in in the Dallas Texas area? You’ll need more than just a big heart and good home-cooking skills. You’ll need to form a piles and piles of paperwork. But I’m here to help make the process as painless as possible – after all, home sellers in Dallas have enough on their minds without having to worry about which form goes where.
So, first things first: every home sale in Texas requires the following forms and documents:
A photo ID (it is better to have two forms of ID ready like a passport, driver’s license, etc.)
A copy of the purchase agreement and any addendums,
The closing statement,
A signed deed,
A bill of sale,
and an affidavit of title.
Every home seller in Texas is required by law to provide buyers with specific disclosure forms:
Seller’s Disclosure Notice.
Since 2019 the Seller’s Disclosure Notice (Form ID: OP-H) is required by sellers of previously occupied single family residences and is to be used in conjunction with a contract for the sale of real property. It contains information required to be disclosed by Section 5.008 of the Texas Property Code regarding material facts and the physical condition of the property.
Flood Zone Statement.
The state law requires sellers to disclose if a home is located in a 100 year floodplain, a 500 year floodplain, a flood pool, in or near a reservoir, and whether that home has flooded before.
Lead Based Paint Disclosures.
Addendum for Seller’s Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards as Required by Federal Law (Form ID: OP-L) is used to comply with federal regulation to furnish a lead paint disclosure in properties constructed prior to 1978.
In addition to these required documents, home sellers in Texas may also need to provide:
Loan payoff information (if you have a mortgage on your home);
HOA forms and guidelines (if your home is in the community that has Home Owners Association);
Survey results or survey affidavits;
Home inspection results (if you conducted a home inspection recently);
Proof of repairs or renovations (if you did any repairs and have receipts for service and materials);
Home warranty information (if your home has any warranty);
Copies of relevant wills, trusts, or power of attorney letters;
Relevant affidavits (name affidavits, non-foreign affidavit under IRC 1445, etc.);
The closing disclosure (for certain seller concessions); and correction statements and agreements.
3. Hire a Real Estate Agent
The process of selling a house is an emotional one, and as such it helps if you are well prepared.
Hiring a good real estate agent is probably the most important step in the entire process. Your real estate agent (also known as a Seller’s agent and/or Listing agent) will be your guide throughout the sale and will help you determine the right asking price, market your home, and negotiate with buyers. Without a good agent, selling your home will be much more difficult.
If you hire me, my job as your full-time real estate agent will be to represent the best interests through every step of selling your home; from providing you with a Comparative Market Analysis (CMA) to managing showings/negotiations on your behalf while protecting your best interests along the way – all under cloudy skies or shine!
My IT marketing and media production background will give you an advantage when it comes to marketing your home. Upon signing the listing agreement, you will automatically receive many options not offered by other agents that will make your property stand out and attract many prospective buyers.
I’m confident that I can provide you with the highest level of service and achieve the best results possible for you. If you’re interested in learning more about my services, please call me at 214.940.8149. I look forward to hearing from you!
4. Find out how much is your home worth and decide on a home price
Once you’ve found a real estate agent, it’s time to price your home. This can be tricky, as you want to strike the right balance between getting the most money possible and making your home attractive to buyers. If you price your home too high, it may sit on the market for months without attracting any interest. On the other hand, if you price it too low, you could end up leaving money on the table.
The best way to come up with an accurate listing price is to request a Comparative Market Analysis Report (CMA) from your real estate agent. A CMA takes into account recent sales of similar homes in your area (called comparables or comps). Once your real estate agent has this information, he or she will be able to give you a good idea of what your home is worth and help you come up with an appropriate listing price. Please contact me if you wish to find out how much is your home worth
5. Get Your Home Ready For Sale
This means decluttering, deep cleaning, and making any necessary repairs or renovations. Remember, first impressions are everything! You want potential buyers to walk into your home and see a well-maintained property that they can see themselves living in.
6. List your home for sale
Listing a home for sale on MLS is a must for home sellers in Dallas who are looking for the best return on their investment!
Multiple Listing Service, or MLS, is a database of home listings that is used by real estate professionals. By listing your home on MLS, you will make it available to a wider pool of potential buyers, including buyers who are working with a real estate agent. In addition, your home will be featured on popular home-search websites, such as Realtor.com and Zillow. Listing your home on MLS is a great way to get maximum exposure for your home and to find a buyer who is willing to pay top dollar.
7. Marketing and Showing Your Home
When you’re selling your home in Dallas, then you need a solid marketing plan. The majority of home buyers use the internet when searching for homes, so you need to make sure your home is easily found online.
Once your home is on the market, potential home buyers will want to tour it. You should make your home available for showings at convenient times for home buyers. It’s also important to maintain a certain level of cleanliness in your home and curb appeal. The home must be vacant during the showings.
By the way, my marketing plan includes open house showings, during which I will be personally attending the open houses to answer any questions the home buyers or buyer’s agent may have. So if you’re looking to sell your home in Dallas, contact me today for more information on my marketing plan.
8. Fielding Homebuyers Purchase Offers and Negotiations
For home sellers in Dallas, fielding homebuyers’ purchase offers and negotiating can be a daunting task. Oftentimes, sellers will receive multiple offers if the home is priced correctly. These offers can range from lowball offers to more reasonable ones. As a result, sellers must be prepared to negotiate by making counteroffers. Negotiations can involve everything from settling on a sales price to concessions and financing.
NOTE, the seller of a property has the right to decline any offers they feel are beneath what is fair for their home. If an offer comes with too many strings attached, or if it’s extremely low in comparison the seller can also choose not to respond.
As your real estate agent, I will represent your best interests during the negotiations. With my help, you can rest assured that you will get the best possible deal on your home sale.
9. Finalizing the Home Purchase Contract
Once an offer on a property has been made by a buyer and accepted by the seller, they enter into a legal contract.
The contract outlines the specific terms and conditions of the transaction and is acknowledged by both parties by the signing of the document.
The contract will cover the Closing date, Contingencies, Purchase price, Closing costs, Possession date among other terms and conditions. Please take a look at the most frequently used contract form. It is used for the resale of residential properties home sellers that are either a single family home, a duplex, a tri-plex or a four-plex.
The contract will include an option period. In Texas, the Option Period is a specified number of days set forth in a real estate contract that allows the buyer to terminate the contract for any reason. During the Option Period, the Buyers will hire Home Inspection to determine if the home is in need of any repairs before making the contract final. Based on the Home Inspection results, buyers will have a chance to negotiate with the sellers to cover the costs of certain repairs or to ask for concessions.
10. Escrow and Closing
If you’re selling a home in the Dallas area, it’s important to have a good understanding of the escrow process. In Texas, real estate transactions go through an escrow company. Escrow allows the buyer and the seller to have an outside party to ensure that all parts of the contract are complete.
A title company usually provides an escrow service. The title company is responsible for preparing closing documents and holding the funds involved in a home sale transaction until the home seller and home buyer have both met their obligations in the contract.
As your real estate agent, I’ll work with the title company to make sure that your sale goes as smoothly as possible. I will monitor the escrow process until the transaction is complete.
Prior to closing, you will receive a settlement statement outlining any fees which may apply to you. At closing, all the paperwork is signed by the buyer and seller, both parties pay any settlement fees and the documents are officially recorded.
Now You Know
The steps described above are just an illustration of the simplified guide that can help you get an idea of what to expect when selling a house in the Dallas area. As you can see, there’s a lot that goes into it and selling a home can be a long and complicated process – but it doesn’t have to be! If you work with an experienced real estate agent and price your home correctly, you should be able to successfully navigate the process and sell your house in no time at all.
Are you looking to sell your real estate property in the Dallas-Fort Worth area?
The process of selling a home can be complex and overwhelming, but with the help and guidance of a Realtor, you can navigate through it smoothly. I offer a proven post-COVID-19 home-selling plan that will provide peace of mind and ensure a successful sale.
Whether you have a house or land to sell, I invite you to fill out my Home Sellers form and let me assist you with all your real estate needs.
By collaborating with a licensed real estate professional, you’ll benefit from valuable insights and unwavering support every step of the way. Let’s join forces to confidently sell your home, ensuring a seamless and successful journey.
Call/Text 214.940.8149
Check out my other articles for more helpful information about the home selling process.
The home-selling process can be daunting, especially for first timers. But don’t worry, I’m here to help. To give you an idea of what to expect, I’ve put together a simple guide with the top things home sellers need to know.
Get more information by checking out my other articles linked below.
– House Selling Process – What You Need To Know
– 6 Factors That Increase Home Value in the Dallas Area
– Determining The Value of Your Home
– Get Your Home Ready To Sell Checklist: A First Impression That Lasts!
– Understanding the Listing Contract
– Staging Your Home To Sell – Will it Help?
– What does a Realtor® do to sell your house?
– How to Have a Successful Showing or Open House (Showings & Open House Checklist)
– Solid post COVID-19 Marketing Plan To Sell Your House
Latest from Dallas Real Estate Blog
The Seller’s Agent Duty
READ: Texas Real Estate Commission Information About Brokerage Services
AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the
owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum
duties above and must inform the owner of any material information about the property or transaction known by the agent, including
information disclosed to the agent or subagent by the buyer or buyer’s agent.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):
– Put the interests of the client above all others, including the broker’s own interests;
– Inform the client of any material information about the property or transaction received by the broker;
– Answer the client’s questions and present any offer to or counter–offer from the client; and
– Treat all parties to a real estate transaction honestly and fairly.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:
– The broker’s duties and responsibilities to you, and your obligations under the representation agreement.
– Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
TYPES OF REAL ESTATE LICENSE HOLDERS:
– A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.
– A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.
