With everything that has happened in the real estate market this last year, you may have come to the decision that it is time to sell. If you have made that decision, there are a number of things you should do to prepare your home before listing it. This article from HomeZada does a great job of identifying the things you should focus on to prepare your home for sale. Enjoy the article and give me a call if you have any real estate needs. Tim Houterloot - Broker/Realtor 317-997-0165 cell firstname.lastname@example.org Source: HomeZada | Repost 6/24/2021 - If you’ve decided to sell your home, expect to perform minor repairs and enhancements as part of the preparation. Small things like replacing rugs, door handles, and decluttering can help your property become more attractive to potential buyers. Preparing your home well can also help preserve its fair market value and make it more welcoming to people interested in acquiring your property. Being that it’s critical to give your living space a once over before listing it up for sale, here are some of the easiest ways to groom your property for a successful sale:
1. Check If You Have Tax Obligations
The Internal Revenue Services (IRS) considers your home as a capital asset. When sold, it becomes subject to capital gains tax.
Fortunately, because of some exclusions cited in the Taxpayer Relief Act of 1997, the majority of home sellers are excluded from paying this tax obligation. For sellers who’ve stayed in the property for two to five years before the home sale, the exemption covers proceeds of up to USD$250,000 for unmarried homeowners. The amount of tax exclusion limit is doubled for married couples. Read the full article...
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