Archive for February, 2012

10 Steps to Consider When You’re Going to List Your Home in Texas for Sale

List Your Home in Texas for Sale

Before listing your home for sale in Texas, it’s important to consider the best way to present it to potential homebuyers. By creating a game plan and following these 10 steps, you can set yourself up for the best possible results.

1. Agent or No Agent

The first thing you’ll want to consider is whether to hire an agent to help you sell your Texas home. An agent can bring experience and knowledge of the local housing market and trends to the table, helping offer advice and suggestions that might make it a lot easier to sell your home.

2. What is the Asking Price?

One of the most important things you’ll want to consider is how to price your home for sale. The best way to do this is to look at similar homes for sale in the area and their asking prices. Keep within a similar range and slightly below the appraised value. This lets individuals know they’re getting a great deal on the home. Also, pricing above what you really want is key, since people will try to negotiate down.

3. How Will You Market It?

When trying to sell a home in Texas, one of the most important things you need is a marketing plan. Consider your budget as well as the best ways to advertise for your specific Texas region. Some ideas to consider include the newspaper, trade ads, and online methods like Craigslist.com.

4. Does Your Home Have Curb Appeal?

Stand out by the street and look at your home from a stranger’s point of view. Is the paint fresh and are the bushes and trees trimmed? Is the grass cut and leaves removed? Is the home attractive from the street? This is the first impression others will receive, so it’s important that it’s a good one.

5. Are All Personal Items Removed?

Individuals want to imagine their own belongings in a home they’re considering on buying, and it’s very difficult to do that with other personal belongings already there. Make sure all photographs and personal items are removed and that the home is staged so that it acts as a blank canvas for the mind of a potential homebuyer.

6. Has Your Home Been Inspected?

Many homeowners have their homes inspected before listing them, in order to ensure that everything is in a functioning state and that the home is in general good shape. This can prevent future problems and potential buyer issues.

7. Market to Retirees

One of the ways individuals have successfully sold their Texas homes is by marketing them to retirees. Individuals who are retiring are looking for warm, gorgeous weather, which Texas is famous for. To reach this target market, consider advertising online, especially on social networking sites.

8. Handyman Special?

One great way to sell a Texas home without having to do much repair work is to advertise it as a handyman special. Individuals in Texas are often known for their ability to fix things up and repair small problems easily.

9. Consider Unique Benefits

Each house has something about it that is unique and will appeal to individuals. If the home is a mile from the nearest neighbors, it can be advertised as “in the country” and “peaceful.” If a home is in the middle of town, adding something like, “An eight of a mile from the local Starbucks” will appeal to individuals who are looking for that kind of home.

10. Open House?

An open house can be a great way to reach out to individuals who might be interested in your home. Advertise the open house and make sure the home is staged and clean before entertaining potential homeowners.

Overall, these 10 things to consider when selling a Texas home will help tip the odds in your favor for a quick closing.

TREC has updated their forms again. Effective March 1st

TREC or the Texas Real Estate commission has updated their forms again. Below is a list of the updates and what has changed. Some of the changes are minor and merely are phone number and website changes while others are substantial changes in the body of the forms. Rest assured we will have the forms changed in the system.

TREC No. 20-10 (TAR 1601) 1-4 Family Residential Contract (Resale)
Paragraph 6.B: adds a sentence regarding the buyer’s ability to terminate the contract if the
commitment and exception documents are not delivered within the time required, which was deleted
from paragraph 15;
paragraph 6.D: adds the phrase “by Buyer” for clarity;
paragraph 6.E.(2): adds additional disclosures required by amendments to §207.003, Property Code;
new subparagraph 6.E.(8): adds new statutory disclosure regarding private transfer fee obligations;
paragraph 7.A: adds a new requirement for a seller to have utilities turned on and kept on while the
contract is in effect;
Paragraph 7.F: changes a phrase regarding the buyer’s remedies if the seller fails to complete agreed
repairs and treatments prior to the closing date; the new text provides that the buyer may exercise
remedies under paragraph 15 or extend the closing date up to 15 days to allow the seller to complete
the repairs;
Paragraph 15: delete the sentence regarding seller’s failure to make non-casualty repairs or deliver the
commitment or survey. The sentence was moved to paragraph 6.B.
TREC No. 23-11 (TAR 1603) New Home Contract (Incomplete Construction)
Same as for TREC No. 20-10 except that there are no amendments to paragraphs 7.A. or 7.E.
TREC No. 24-11 (TAR 1604) New Home Contract (Completed Construction)
Same as for TREC No. 20-10
TREC No. 30-9 (TAR 1605) Residential Condominium Contract (Resale)
Same as for TREC No. 20-10 except that 6.E.2 is not amended
TREC No. 9-9 (TAR 1607) Unimproved Property Contract
Same as for TREC No. 20-10
TREC No. 25-8 (TAR 1701) Farm and Ranch Contract
Same as for TREC No. 20-10 except that 6.E.2 is not amended TREC No. 39-6 (TAR 1903) Amendment
Paragraph 8 is changed to reference the correct title to TREC No. 40-3
TREC No. 37-4 (TAR 1923) Subdivision Information, Including Resale Certificate for Property
Paragraphs D, H, and I are amended to track statutory changes to Ch. 207

This is a list of forms that just had the contact information changed on them.

TREC No. 40-3 (TAR 1901) Third Party Financing Addendum for Credit Approval
TREC No. 38-3 (TAR 1902) Notice of Termination of Contract
TREC No. 44-0 (TAR 1905) Addendum for Reservation of Oil, Gas, and Other Minerals
TREC No. 10-5 (TAR 1908) Sale of Other Property by Buyer
TREC No. 11-6 (TAR 1909) Addendum for Back-Up Contract
TREC No. 15-4 (TAR 1910) Seller’s Temporary Residential Lease
TREC No. 16-4 (TAR 1911) Buyer’s Temporary Residential Lease
TREC No. 26-4 (TAR 1914) Seller Financing Addendum
TREC No. 33-1 (TAR 1915) Addendum for Coastal Area Property
TREC No. 34-3 (TAR 1916) Addendum for Property Located Seaward of the Gulf Intracoastal Waterway
TREC No. 28-1 (TAR 1917) Environmental Assessment, Threatened or Endangered Species
TREC No. 45-0 (TAR 1918) Short Sale Addendum
TREC No. 41-1 (TAR 1919) Loan Assumption Addendum
TREC No. 12-2 (TAR 1920) Release of Liability on Assumed Loan and/or Restoration of Seller’s VA
Entitlement
TREC No. 32-2 (TAR 1921) Condominium Resale Certificate
TREC No. OP-I (TAR 2504) Consumer Notice Concerning Hazards or Repairs
TREC NO. OP-K (TAR 2501) Information About Brokerage Services
TREC No. OP-L (TAR 1906) Addendum For Seller’s Disclosure of Information On Lead-Based Paint
TREC No. OP-M (TAR 1924) Non-Realty Items Addendum to Contract