The Home Selling Process
Step 1: Deciding to Sell
When deciding whether to sell a house or not it is important to understand the local real estate market. Prudential Utah Real Estate has the finest real estate professionals that can assist you in determining whether it is currently a buyer’s market or seller’s market and what that might mean to you.
Also, it is important to understand a few things before making the decision to sell so that you are not surprised later in the process.
Financial Impact - It costs thousands of dollars to effectively market and sell your home. Most experts agree that the costs to sell and move can be approximately 10% of the value of your home by the time you factor in real estate commissions, closing fees, moving costs, pre-sale repairs, pre-sale cosmetic fixes, and other related expenses. The less equity you have built into your home since you purchased it, the mor you could be affected when you attempt to move. Make sure that you speak with a real estate professional to understand what costs you might incur if you decide to sell.
Timing - Depending on the market you live in, it may take significant time to sell your house. If you are in a slow market and you have little equity in your home, you may end up needing to bring cash to closing in order to cover the deficit. Again, the more equity you have in your home, the better off you will be.
Tax Consequences - Contact your tax advisor.
