No matter how much you study the home selling process before you list, there are things you just can’t learn until you do them. However, these tips will help you be more thoroughly prepared for things that sometimes catch sellers off guard. Here are seven little-known things that you may encounter during your home sale.
Photo courtesy of Home Bay listing
Home Sales Can Offer Major Tax Savings:
If you are to get a capital gain on the sale of your property, you may be able to exclude that gain from your taxes. This, however, applies if the property you sold was your main home, meaning you used it for at least two out of the five years before the date of sale.
You Have to Pay Closing Costs:
Selling a home does cost money – most of which is built into your closing costs. Take a look at this list to get a good idea of what your costs and fees will be.
Don’t pay 3% to a listing agent: learn how you can save thousands on your home sale.
The home selling process can take a while. The state of your local market, who the market currently favors (buyers or sellers) and the number of homes available for sale are just a few of the things that can impact your timeline. Check out this post for more information.
You Don’t Have to Hire a Realtor:
Although the most common way to list a home has traditionally been to use a real estate agent, there are lots of other options (including HomeBay’s low, one-time fee service) that can save you time, money and stress. Check out how our comprehensive service helps sellers keep more money at closing.
You Don’t Have to Have an Open House:
While you’re certainly welcome to have an open house if you want to, it’s definitely not required. Many agents hold them to not only show the house, but also to introduce themselves to future potential clients. For sellers, the main thing you need is to make sure potential buyers have a chance to come look at your house – and sticking with regular old showings accomplishes that just fine.
Hopefully you learned a thing or two about selling a home that will help you simplify the process!