Selling your home can be an exciting yet daunting process, and one of the most pressing questions you may have is, “What will it cost me?” The total expenses involved in selling a home can fluctuate based on various factors, including the sale price, any concessions you might offer to buyers, and the condition of your property. Understanding these costs upfront can help you plan better and minimize surprises down the road. Key Expenses to Anticipate 1. Closing Costs and Commissions … [Read more...]
What You Need to Know About IRS Reporting When Selling Your Home
If you’re selling your home, you might be surprised to learn that certain information regarding the sale must be reported to the IRS. This requirement stems from the Tax Reform Act of 1986 and is meant to ensure compliance with tax laws and to assist the IRS with audits. To make the process easier for you, here’s a clear explanation of what to expect when selling your property: Who is Responsible for Reporting the Sale to the IRS?According to IRS guidelines, the seller’s gross … [Read more...]
How to Handle Lowball Offers on Your Home
Selling your home is an exciting journey, but receiving a lowball offer can feel like a setback. While it might be tempting to reject such offers outright, handling them with patience and strategy can often lead to a better outcome. Here’s how to effectively manage lowball offers on your home. 1. Stay Calm and Objective First and foremost, receiving a lowball offer can be disappointing, but it’s important to stay calm and not take it personally. Remember, buyers are often testing the … [Read more...]
4 Things You Should Never, Ever Say If You Hope to Sell Your Home
Have you ever had a conversation with a total stranger where you said something that you regret? If you are placing your house or condo on the market, you're eventually going to end up having to chat with potential buyers. Yes, your real estate agent is likely to do most of the talking. However, you will still have to deal with buyers who want to grill you about the home's history, condition, and more. With that in mind, let's have a look at four things you should never say to someone who is … [Read more...]
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