Deciding to Sell Your Home

Selling a home is both a financial decision and a personal one. Before we talk about list prices or staging, it helps to get clear on why you want to sell and what the sale needs to accomplish. These are the questions I walk through with sellers across Dallas-Fort Worth.

Start With Your Reasons and Goals

People sell for many reasons: a new job, a change in household size, less upkeep, a shorter commute, or a plan to move equity into another property. Your reason shapes nearly every decision that follows:

What does success look like? The highest possible price, a fast and certain closing, or the least disruption to daily life?
Where are you going next? Buying, renting, leaving the area, or moving into another property you own?
How firm is your deadline? A job start date is very different from "sometime next year."

Timing: The Market Calendar and Your Own

In much of North Texas, buyer activity tends to build in spring and early summer. Late fall and the holidays are often quieter, though buyers looking then tend to be serious and you may face fewer competing listings. Conditions differ by neighborhood and price range, so I rely on current local activity rather than rules of thumb. You can follow it yourself with our market reports.

Your own calendar matters just as much: lease dates, school schedules, work travel, and the time you need to get the house ready. A well-prepared home listed in a "slow" month often does better than a rushed one listed at the "perfect" time.

Estimating Your Equity

Equity is roughly what your home would sell for, minus everything owed against it. For a first estimate:

Get a value estimate. Our instant home value tool is a quick start; an in-person market analysis is more precise.
Ask your mortgage servicer for a payoff figure, and include any second lien or home equity loan.
Subtract your estimated selling costs, described below.

The result is a rough picture of your net proceeds -- the number that funds your next move.

The Costs of Selling

Agent compensation. What you pay your listing agent, and anything you choose to contribute toward a buyer's agent, is negotiable and not set by law.
Title and closing costs. In much of Texas, the seller customarily pays for the buyer's owner's title policy, though that is negotiable. Escrow fees are often split, and there are usually fees tied to releasing your loan.
Prorated property taxes. Texas property taxes are paid in arrears, so at closing you typically credit the buyer for your share of the current year.
Repairs. Pre-listing fixes, plus any repairs you agree to after the buyer's inspection.
Possible concessions. Some buyers ask for closing-cost help or repair credits.
Moving. Movers, storage, and possibly carrying two homes briefly.

Before you list, I'll prepare an estimated net sheet. A sale can also have tax consequences; see capital gains when selling your home and confirm the details with a CPA.

Buying and Selling at the Same Time

If you need to sell one home and buy another, the order of operations matters:

Sell first. You know your proceeds before you buy. A Seller's Temporary Residential Lease, a TREC form, can let you stay in the home for a short period after closing.
Buy with a sale contingency. Texas has a promulgated addendum that makes your purchase depend on selling your current home. Sellers with other interest may hesitate to accept it.
Use bridge financing. Some lenders offer short-term financing that draws on your current home's equity. Costs, terms, and availability vary.

I started my career as a loan officer and mortgage broker, so I can help you understand how lenders look at carrying two payments, what documentation they are likely to request, and what to ask your loan officer. For more on financing the next home, see home loan options.

Talk Through Your Plan

If you are weighing a move, I'm happy to help you map out the numbers and timing first. Contact Tarus or call (972) 333-3104 to get started.