Save Money When Selling Your Property in San Antonio

The largest financial transaction you must have ever done in your life would be selling your property. And that surely comes with hefty expenses! While there are certain fees and costs that you cannot avoid, you will be surprised to know that there are still multiple ways available where you can save money when selling your property in San Antonio.

But, when you talk about expensive costs, what comes to your mind? Probably real estate fees or commissions. These fees and commissions are paid by the seller which amounts to almost 6% of the final selling price. But there are a lot of tactics you can use, to keep the maximum of the profit with you when you start with the decision on when to list.

Realtor San Antonio has created this guide for you which will help you save money when selling your property in San Antonio:

Use the seller’s market in your favor

Seller’s market can work to your advantage in more than the asking price for your property. In the seller’s market, you have the upper hand because of a home shortage in the market. You can use that as leverage to ask for more – be it lower real estate commissions, lesser closing fees, or asking for discounts on services related to the sale of your house.

• Do your research:

You may not be able to save money when selling your property if you are not aware of how the entire process works. You must first understand the process and steps involved in the buying and selling of the property and have a complete view of everything that is involved. This involves all the things from getting your home all prepped up for listing to the final closing date. You must also decide on whether you want to buy and hold or buy and sell before you invest.

• Understand the fees structure:

Once you are done researching other aspects, understand the detailed breakdown of the fees you need to pay. Few fees however are non-negotiable. These include fees related to filing paperwork with your local municipality. Other fees however can be flexible like home warranty costs or home staging fees or real estate agent commissions.

• Interview top realtors in San Antonio:

Have a discussion with your real estate agent in San Antonio. You don’t have to immediately sign on the papers without having a word with them. Different agents have different services which they provide. These services come with different fees and commissions. Figure out what exactly you need from your San Antonio realtor and then take your call.

• Be creative:

Just because things have been done the traditional way does not mean they should be done the same way.  Since the recent shift towards online communications and meetings, you may now streamline your home selling process and reduce the costs. For example, if you own 

property that is far away from where you live and you wish to sell it, instead of flying down to get done with the closing process, you can sign everything electronically and conduct the closing through video conference.

• Sell the house on your own:

FSBO or for sale by the owner can be a great choice for some properties or situations. It saves you a lot of money and puts you in control of the whole process. But, this is surely a double-edged sword. On one side, you will be saving money on the commission costs and other agent expenses. But you also will be the one doing the entire work. And, if you are a working professional with a strict 9 to 5 schedule, you will have no time.

You will have to answer the questions of the prospective buyer, market your property, handle all the paperwork, and also perform other tasks. This surely can be a lot of work and an overwhelming process if you do not know the real estate market. In some cases, for sale by the owner or an FSBO can be quite risky. Hence, it is wise to let the pro handle it.

• Negotiate on the agent’s commission:

In real estate, you can negotiate on everything, even the listing agent’s commission! You will especially have to wiggle a little on the commission in the seller’s market because your home will sell easily on the asking price. Even a little above with the work from your San Antonio realtor. The lesser the time your agent will take to seal the deal, the more likely they will be agreeing to charge a lesser commission. This way, you can save thousands! This way, the agent too will move on to their next client.

• Do the needful repairs before listing the house:

Going overboard with the repairs before listing your house may seem tempting. But, you should be thoughtful about the process and opt for the repairs to generate more returns on your money. also, doing the basic repairs will help in selling your house quickly and for a higher price.

• DIY repairs:

Be it a condo, a townhouse, or an apartment, you can save a ton of money by performing certain repairs by yourself, especially the ones that do not need a lot of expertise like landscaping or painting. Labor is surely the greatest cost in performing the repairs. Hence, putting in some elbow grease yourself is surely going to make a difference.

• Sell your property as-is:

Another option is to sell your house “as-is”. This means that you are not willing to make any repairs on the house after it has been listed, even if the prospective buyer will ask for it after inspection. This will save you the cash that you would have needed to make those repairs. It may also avoid you the need to take a loan for doing so. But you should note that this trick can only work in the seller’s market, in other cases it may put off potential buyers.

• Price the property right:

Pricing the property in the sweet spot may not save you money, but it surely affects the final selling price of your house and also avoids you leaving money on the table. If you think that listing your house at a higher price will fetch you a higher deal, my friend you are mistaken! Instead, pricing it at the market value or slightly below will attract more buyers. More interest means more competition in the seller’s market. This will also lead to a bidding war that will help your house sell well over its asking price.

• Negotiate on the fees and the closing costs:

You may not be able to negotiate on all the fees, but on some, you surely can. Real estate commission is a great example of this. Even though you may not be able to negotiate to pay less in the fees, you can negotiate with the buyer in paying some of the closing costs. This, however, can be pulled off in a hot seller’s market.

• Keep an eye on your closing date:

In order to avoid paying bills for 2 houses at a time, line up the closing date for your old house and move to your new place as soon as possible. Buyers and sellers often tend to forget about the moving costs, but it surely tends to add up. For example – if you move into your new house 2 months before handing over the keys of your older one, you will have to pay double on the insurance of the house, property taxes, and the utility bills of those 2 months, your old house and your new house.

The Bottom line

The longer you own the house, the more it will cost you. The utility and tax costs will continue to add up. But, when you sell your house with realtor San Antonio, the entire selling process will be completed within a few days. When you wish to list your house for sale in San Antonio, you can save money in a lot of ways.

Contact San Antonio Realtor to determine which selling method will work the best for you and they will ensure that most money will be in your pockets!