Taxes
The taxes payable depend on how long the property has been owned. So, you should absolutely factor taxes into your plan when you're selling your family home. If the property has been owned for less than a year, taxes are charged at the ordinary income tax rate.
Hiring A Listings Agent
Listings agents can also advise on which improvements may increase value, and what buyers are looking for in terms of features and amenities. With all this knowledge, hiring a listing agent can save you time, money, and hassle as you move through the process of selling your family house.
Be sure to do your research before hiring one. Look at their reputation, experience level, success rate with similar properties in your area, etc.
Preparing The House
- Declutter
- Clean
- Paint
- Repaint
- Curb appeal
- Stage It
- Landscaping
- Inspections
Decluttering is an important part when preparing your home for sale. Going through each space and removing unnecessary items will help create a more desirable look for potential buyers. It also makes the process of cleaning much easier as there are fewer things to move around.
Advertising
Direct mail advertising, listings, social media, and real estate websites are all advertising methods by that a potential buyer can be reached. Print advertising is still one of the most recognized forms of advertising, and it often works best when selling family homes.
Setting A Timeline
Consider how quickly you need or want to move and set a timeline accordingly. For example, if you need to move in the next three months, it’s important to account for those three months in terms of what needs to be done before you list your home.
Setting The Price
Consider what you owe on the house and how much money you need from the sale. It’s important to take into account current market trends and conditions as well as the condition of your house. Age, size, features, location, and other factors should be considered in setting a price for your family home.
Negotiating Offers
Selling your family home is a huge deal and an exhausting process, so start by sorting out the taxes and finding a listing agent. Prepare the home for the sale and advertise it any way you can. Make sure to set up a sale timeline and set a realistic price people will be attracted to. Finally, be ready to negotiate the offers people make in order to make it more profitable for you!
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