Austin Real Estate Team

You got an offer! Somebody is serious about buying your Austin home. Hand off the negotiating to the realtor. They can do all the legwork between you and the buyer, handling the offer and counter-offer. If you have an absolutely final bottom price you'll take, keep it in mind, but don't tell your realtor or that's what you'll end up with. Let the process of give-and-take slowly settle to that price, if necessary.

If you and the buyer are close on price, tell your agent to offer trade-offs such as a decorating allowance if the buyer is willing to pay a certain price. If they agree, then you can have that discounted from the closing price or you can hand over a check to the buyer at closing.

Taxes owed on the home, and any liens that might exist, say from having the foundation fixed, have to either be paid before closing, or stipulated to the buyer prior to final agreement. Most of this can be paid at closing, and the title company will help with that. However, be sure to disclose it to the buyer beforehand. You don't want the buyer to be surprised when a title search is done and these things are revealed.

In Texas the title company generates all the paperwork and will handle the transfer of title and all fiduciary responsibilities at the closing. Buyer and seller don't necessarily have to meet at the closing, but it is a friendly gesture to be on hand. Also, you may want to schedule it for as early as possible in the day so the title company can get you the check later in the day, or transfer the funds to your bank account.