Are you a Veteran or Austin, Texas local citizen thinking of selling your home this year? It can get overwhelming but here are two things to consider to help you start your journey.
1.) What Real Estate Market Are You In?
Currently, in April 2022 we are in a Seller’s Market. In a seller’s market there are more buyers than homes for sale, especially this year in Austin, inventory is low.
What does this mean as a seller? You’ll typically have plenty of offers to choose from, many even over asking price, and won’t have to provide a lot of concessions to find a ready, willing and able buyer. The current seller’s market may taper off in 2022, and with a stronger job market aspiring homebuyers can afford continued price increases. Thumbs up!
2.) Real Estate Lingo
Another thing that will help you on this journey is to learn the language of real estate, a.k.a real estate lingo. With multiple offers, you’ll be doing a deep dive into lingo like contingencies, appraisals, and inspections to determine which offer is best for you.
“Contingent” in any sense means “depending on certain circumstances.” In real estate, when a house is listed as contingent, it means that an offer has been made and accepted, but before the deal is complete, some additional criteria must be met.
For instance, if a seller offers a certain price and you, as the buyer, say the price is fine (provided the home inspection comes back clean), you have made a contingent real estate contract. In this case, the sale of the house depends on the inspection not having problems defined in the contract.
A home appraisal is a process through which a real estate appraiser determines the fair market value of a home.
A home inspection examines a property’s safety and current condition. A buyer arranges and pays for a home inspection and—depending on its findings—may choose to move on to closing, renegotiate the sale price, request repairs, or cancel the sales contract.
No need to stress — I, your friendly Veteran Austin Texas Real Estate Agent, can help with all of this. And if you’re a veteran yourself, know there are tons of Veteran Association (VA) related resources to help you on your journey to finding a realtor, getting a VA and/or Veteran Land Board (VLB) Military Loan or VLB Home Improvement loan or grant, and finding your dream Texas home.