Seven Expenses to Keep in Mind if You are Considering Selling.

If you are considering selling your home in this seller’s market, here are seven expenses to prepare you for the sale of your home or investment property.

Preparation: your house may need some TLC or maybe more love to get ready for market. It could be as little as a paint touch-up or as significant as an organization rehab. Your realtor can walk through your home along with run comps in the area to determine the best return on your investment dollar to prepare for listing.

Staging: staging allows a potential buyer to see the possibilities of a particular space, without a lot of guesswork. As each home is on a case-by-case basis, your realtor can help you determine if staging may attract more buyers.

Carrying: these are any expenses an owner must pay on an investment property over the course of owning it.

Closing: these are the expenses sellers normally incur in the transfer of ownership of real property & range from escrow and title to listing and buying agent commissions.

Taxes: if you sell your home, you may exclude up to $250,000 of your capital gain from tax. For married couples filing jointly, the exclusion is $500,000. Also, unmarried people who jointly own a home and separately meet certain criteria can each exclude up to $250,000. It is best to speak with your accountant and or financial advisor regarding taxes and what to prepare for.

Mortgage Payoff: a mortgage payoff is how much you will actually have to pay to satisfy the terms of your mortgage loan and complete payoff of debt.

I’m happy to answer any questions you may have. Please reach out.