Buying or Selling a Home? Here’s What You Need to Know
Published | Written by Jerry Newman
Your future real estate transaction, whether it involves buying a new one, selling your current one or both is an exciting process. There may be a few nerves and butterflies, but overall it’s a happy journey in which you are moving forward. In order to continue moving forward, you’ll need the help of a realtor, and Brown Realty and Property Management offers a few tips on what you’ll need to do first.
Sort Out the Details
Looking at houses is fun, and perhaps you’ve even attended an open house just because you’ve always wondered what it looked like inside, but it is important to nail down some details before you and your real estate agent start looking. Buyers should get financing in order and figure out which area/s they want to live in before hiring a real estate agent.
First off, you need to get your finances sorted out so that you can pinpoint a realistic price range. Meet and settle on a lender so that you can gather all the information to get pre-approved for a mortgage. You may find that you need to pay down some of your debt or work on raising your credit score before you qualify. Once you’ve got a budget pinned down that also accounts for future expenses such as utilities or maintenance, decide what areas you want to look at and determine what you want and need. For example, is the area pet-friendly to accommodate your pooch? Does the home have enough bedrooms to support a growing family? Make a checklist to take with you to each home, but don’t count out a house if it can be changed to meet your needs. There are some home renovation funds available with certain lenders if you want to replace carpet, or update an existing kitchen or bathroom. Your agent will be helpful in connecting you with those lenders, who do home renovation loans.
Connect with an Agent
You need to do your homework before you hire an agent. There are more than enough realtors to go around, and their signs are everywhere, so ask for recommendations from family members and friends. Set up an interview with at least three potential agents so you can ask them the important questions about their experience/credentials, average number of clients, and the contact information for at least three references. Look for someone who has at least five years of experience and works full-time so that you can ensure they are dedicated to the job and your happiness.
Keep your Business in Mind
If you run a home-based business and your move is an upsize to accommodate your business, remember to take a mindful approach when it comes to where you plan to buy. Zoning restrictions could be an issue depending on your business. You’ll also need the requisite business licenses, and a decision on your business structure if you’re first starting out. Many business owners opt for sole proprietorships, but if your business will be based out of your home, an LLC’s limited liability protection will ensure your home isn’t at risk in the event of a business dispute. You can easily register LLC in Texas online to conveniently formalize your business.
Put in the Work
This might sound like a no-brainer, but one of the biggest things a seller can do is put the work in to get the house show-ready. Sellers should be committed to selling by cleaning thoroughly and by packing non-essentials. For example, if their home is going on the market in the summer they should go ahead and pack up winter clothes.
In other words, getting your home ready to sell requires a lot of work on your end, including major cleaning and decluttering. Clean anything and everything, including those steps you tend to skip in your regular cleaning routine. Remove items from all surfaces, as well as personal items so that buyers can picture their life in your home.
Fix It Up
Homes in San Antonio, Texas, are typically on the market for about 35 days, and it could take a lot longer if you wait to make repairs and updates. Take into consideration that if your home needs a new roof or AC unit to sell, those types of tasks should be done first. However, smaller jobs like painting, floor coverings, and the like should be done after you contact an agent. Either way, it's good to have an initial meeting to determine what fixes need to be addressed.
Your agent will be able to tell you what fixes are worth it and which ones are better left alone. Before you upgrade your cabinets or tear out a wall, make sure it is adding value.
No matter what side of the real estate transaction you are on, there is work to be done. Before you hire an agent, follow the suggestions above to streamline the process. Then, bring in a realtor and enjoy the ride.
If you’re preparing to buy a new home, connect with the great real estate advisors at Brown Realty and Property Management. Reach out today at 210-789-4216.