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Tips for Selling Your Home

  1. Time is Money – It’s a good idea to place your home on the market as far in advance as possible of purchasing a new one. If you find a new home first and then try to sell your present home, you may end up with two mortgages. If this does happen, ask me about a Bridge Loan to help you make double payments. You will also want to weigh how time on the market affects your personal finances.
  2. Set a Fair Price – Naturally, you want to get top dollar for your home, but without allowing your property to sit on the market for months. Ask me to prepare a comparative market analysis. Here are some of the factors to consider in pricing your home.
    • Location
    • Economic conditions
    • Supply and demand in the local housing market
    • Seasonal influences
    • Local schools
    • Average home prices in the neighborhood
    • Your home’s extras (professional landscaping, fireplaces, central air, etc.)
  3. Use a Real Estate Professional – When a potential buyer puts an offer in writing and you accept it, the signed acceptance becomes a sales contract. Your real estate professional can help to protect your interests and can assist you with the following elements of a sales contract:
    • Choosing the correct asking price
    • What is included in that price – appliances, furnishings, etc.
    • The types of financing available
    • The date of closing and possession
    • Contingencies to the sale
    • Determining which closing costs are to be paid by the buyer and/or seller
  4. Be Aware of Tax Implications – Selling a home can have major impact on your federal and state tax returns. Check with your tax consultant on the factors that may affect taxes resulting from the sale from your home. For example:
    • Whether you purchased the home or acquired it as a gift or inheritance
    • Whether you used your home partly for business or rentals
    • Costs associated with selling your home
    • Home improvements or additions, which may help to offset capital gains
  5. Check Your Curb Appeal – Inside and out, the appearance of your home is a key factor in your property’s appeal to buyers. There are plenty of improvements you can make without spending a lot of money.