Now selling your home is probably one of the most complicated, stressful and time-consuming tasks that you can do in relation to your home, so many things need to be considered. Your reason for selling can vary from wanting to cash in on a long standing investment to move on to a different kind of money maker or investment, or perhaps you have grand ideas about expanding your family and having children and need a larger house with more bedrooms to accommodate them. However, as the reason for selling varies, the process for any house can be very different depending on a number of different factors, such as local market, house type and property demand in your area.
So it’s important that you not only understand the procedure for selling in detail but are also familiar with the intricacies and more subtle procedures and tasks that must be completed in order to maximize your house’s selling power and shore up a maximum price for its relative value. For this, it’s highly recommended that you find a reputable real estate agent to handle all aspects of this highly complicated process to ensure that no crucially important aspects are overlooked. However, the agent can only go so far and there are a number of things that will fall on and for you to take care of so hopefully we can give you a few pointers to remember and to help keep you on track.
Ensure you are complying with tax law
Now, this is definitely something that your agent should be able to advise you on however it will definitely fall on you to make sure that you include any gains and profits from selling your home in your next tax invoice. After all selling is classified as a fully taxable event and subsequently, you must register what’s known as your capital gains. This is the full selling price of your home obviously excluding any deductible costs that can be associated with selling the house such as closing costs and your tax basis. On top of the rest of your taxes for the year, this particular addition can be a confusing and complicated addition that some people struggle to perform without assistance.
We would recommend asking an accountant to take a look at the financial and tax details of your sale and commission them to fill in the paperwork that you will require next time you submit your taxes. This will ensure that somebody who is intimate with the various different tax nuances and processes is best positioned to fully calculate and write up a tax form deals with all of the details ensuring that everything you are doing is above board to avoid any future tax inconsistencies that could occur as a miscalculation on your part. This will help avoid the risk of potentially having to deal with it all again or even facing legal action from the tax authority in your area.
Get your home professionally staged
No matter how exciting and tasteful, with both the décor and organization of your home, the likelihood is that it’s just not prepared to the adequate level to be showing around potential buyers and it requires adequate levels of preparation to de-clutter and remove any intrusive or unhelpful decoration to create a clean looking, open and inviting atmosphere and look for your home which will be appealing to the people viewing the house in person. It will also make the photographer who is in charge of taking the marketing photographs for the various listings and brochures able to take photographs that really extenuate and show off the property’s unique selling points.
This is something that you could do yourself, however, for the same reason you would employ a professional real estate agent or a professional accountant, it will definitely pay dividends to employ the services of a company or individual who has many years’ experience in performing all of the spacing, arrangement and de-cluttering work to the standard required to show around people who, let’s not forget, are considering paying out at least $100,000 dollars for your home and most likely a whole deal more. Do you really want to misrepresent your home with all of that on the line?
Thanks for taking the time to read this article, hopefully now you have a better grasp of the kinds of things you will need to ensure are done when selling your house. Please click the following link for more information about home staging.