Nelson Vianna - HOME SELLING INSIDER

prepared to make repairs before listing it for sale. When you act ahead of time, it’s less expensive t o fix t hings, and it’s an embarrassing (and expensive) proposition to let potential buyers see the faults of the property during the open house. Probably, prospective buyers will o ff er less or demand a credit for the expense of the repair work that needs to be done before the deal closes. Experts say clutter is the culprit that eats at the equity and kills deals. Decluttering your property can create a sense of a more spacious home. Clearing o ff t he kitchen countertops, over fl owing closets, and full shelves in the den doesn’t cost much, but brings ample reward. Clear the home of all unwanted things. Completely declutter the home immediately, before listing. NOT DISCLOSING ADEQUATELY When you choose to sell the home without making repairs to systems or structures (e.g., leaky roof, rusty hot water tank, or not-up-to-code electric), be sure to disclose all maintenance and repair issues. You could be liable for problems you didn’t disclose even in an “as-is” sale, and, importantly, this will help you save money and time if the buyers end up discovering the problems themselves and you must deal with them during the closing. NOT FOLLOWING THE TIMELINE PERFECTLY Sales that are timed fo r fin ancing or tax purposes that miss the timeline even by a single day can cost you extra in taxes or other cos ts. Th erefore, missing a day can mean losing dollars. You need to schedule the deal a ft er consulting your accountant well in advance t o fin d out whether any tax breaks can apply for long- term capital gains. SELLING BEFORE GETTING QUALIFIED YOURSELF Entering a contract to sell your home before you get qua lifi ed to

102

Powered by