Before Selling Your Home


Taxes : Before Selling Your Home	Homepage \| Add to Favorites

Recommended Sites

Related Links

Informative Articles

2006 Easier Organizing for Your New Year
Use these New Years Organizing tips whether you have a file 'system' - or not! If your business end-year falls in June, just use these same tips in July. In January set up a Tax Box to hold all your 2005 tax documentation. Set up an archive...

Career Advice: Career Success Requires Management Of Change
Change is certain and constant. Benjamin Franklin would have been wise to add "change" to his adage that "death and taxes are the only certainties of life." We are inundated every day with new relationships, new ways to do things, new...

Retirement Location Options
Looking for Retirement Paradise Your days of toil are almost over and the relaxing and pleasant age of retirement has dawned. Time to make one of the most important decisions of your life: choosing a place for you to enjoy your well-earned...

Sole-Proprietors, Prevent Identity Theft by Getting an EIN
Obtaining an EIN or employer identification number is a good idea if you are a sole-proprietor. From time to time, you'll be asked to provide your social security number or employer ID to clients or governmental agencies. Once you do...

Tips On How Your Bookkeeper Can Reduce Your Taxes By Hundreds Of Dollars
Standard monthly expenses for your Business are transferred from you to your Tax Professional to be put on your Schedule C. No problem, most people get this part right. It's the thousands of dollars in miscellaneous receipts that many people...

Before Selling Your Home

Here are some important steps you should take before you put your house on the market:

1. Home Loan Approval for your next Home

You don't want to be signing a contract to sell your house before knowing if you are qualified to buy another. Your financial circumstances may have changed since your last purchase and you may not qualify for the loan amount you seek. You'll get a good idea of what you can afford by getting a pre-approval before selling your house. You may then take the decision of whether or not it would be reasonable to sell your house at this point of time or maybe consider renting something after selling the house instead of readily buying another.

2. Determine Fair Market Value of your House

You'd want to get the best price off your property and in the quickest time possible. However, over-pricing your home will only limit your chances of selling fast and under-pricing may speed up the process but you lose out in the bargain. An agent or an appraisal service should be able to assist in determining the fair market value of your home. Another way is judging by how much other houses in your neighborhood sold for. Irrespective of the method, one must be used to determine the true and best value of your home to ensure it's sold in quickest time possible.

3. Estimate Cost of Selling

� Advertising costs, if you plan to sell home yourself.

� Real estate commissions.

� Attorney, closing agent and other professional fees.

� Excise tax for the sale.

� Property taxes and home owner association fees, if applicable

4. Make Necessary Repairs

You don't want to put off a buyer because of minor repairs which you haven't attended to so far. If you've decided to sell your house, it's time to finish with any pending repairs you may have felt minor and unnecessary to fix up till this point of time.

5. Get the House Ready to Show

Apart from repair work, you'll also want to see that your house is sparkling clean and everything is organized and in it's place when a buyer comes to see your place. A clutter-free environment is essential if you want the house to appeal to the buyer.

About the Author
Sameer S Panjwani is the CEO and Founder of ChoiceOfHomes.com - Find Homes for Sale and Apartment Rentals.The website is a useful resource of Home Listings, Articles and Information related to real estate.