The internet is abuzz with the Dallas housing market right now. The market has been red-hot, thanks to some massive players moving to the area. Homes have been selling at lightning speeds in this area, and home prices have skyrocketed. More than 62,000 homes were sold in 2015, and it simply wasn’t enough. But this furious growth won’t last forever. Sellers need to move quickly.
But selling a home can be an expensive process. Here are 3 things to watch out for in order to save time, avoid frustration, and make the best profit.
1. Buyer Financing
“My husband and I came to Dallas from Tennessee, and we had been preapproved for a mortgage loan by a bank back home,” a new Dallasite confessed. “But when we found the right house, our banker informed us that he hadn’t factored in the correct property taxes. So our dream home slipped through our fingers.”
This kind of incident can happen. The banks and mortgage companies play by intricate rules, and the seller can’t be aware of the buyer’s progress. Imagine how the seller felt after the buyers had to take back their offer. What if the buyer had turned down other offers to accept this one? That’s time and money wasted because the buyer did not come prepared.
2. Realtor Fees
Nothing against Realtors, but they can slow down this process, too. Realtors charge a 6% commission fee on the total sales price, which takes money directly from the seller’s pocket. And realtors may pressure their clients into lowering the price to encourage a sale. In a hot market like Dallas’, Realtors can focus on quantity instead of quality.
Don’t forget that listing a home for sale takes time, effort, and money. Sellers must ensure that the house is presentable, meaning that the spaces are clean, the floors are swept, the rug is vacuumed, and the house looks sterile. Buyers will expect the seller to repair any problems before selling, or they may ask the seller to come down on the price again.
The recent growth has many economic experts and realtors worried. The last time the market surged like this was before the recession. Experts don’t believe that the area is in danger of another bubble, but Texans are worried. Prices are expected to stay high for now, but even experts don’t know what happens after the slowdown.
If you are thinking of selling a house, now is the time to do it. Don’t wait to see what the Dallas housing market will do in the future, and don’t wait on finicky buyers. Sell your house for cash. Get your sitting property out of your hands now and reap the benefits of a fiery market before it fizzles.
Want to avoid the hassle of having to sell your home on the market all together? Give us a call at 469-701-1666 or fill out an online form to get started!