On ThinkGlink.com, selling typically refers to selling a home, whether that home is a single-family house, a condominium, a co-op, a townhome, or a vacant piece of land. When you’re selling your home, or any piece of real estate, you need to decide what process you want to follow – whether you want to hire a real estate agent or do a for sale by owner (also known as FSBO). Selling includes, cleaning up and organizing your home, figuring out what the selling price should be, hiring the team you’ll need to sell your property (which might include an agent), potentially staging the home, negotiating the sale and closing on the transaction. Selling also includes getting the word out that your home is for sale by using every marketing means possible, including setting up an individual website for the property, listing it on Craigslist.com, Zillow.com and other sites, telling people at work or in your neighborhood that the property is for sale, and even placing a sign in your front yard. Use
When you buy a home, it's the visuals that count. To sell your home faster you may want to stage your furniture and belongings to help give your home more personality. Generally, a less cluttered space is more appealing when you're selling a home.
Staging your home can help it sell faster. Two of the easiest rooms to stage are bedrooms and bathrooms. Buy matching towels, comforter sets, and lampshades for your bedrooms and bathrooms, and you'll be set to sell your home.
If you are ready for retirement, should consider selling your home before moving into a retirement community? And what about selling a home in this market - can it be done? You can still sell a home quickly if you focus on doing some home improvements to make it stand out out, including landscaping. And when buying a home for retirement, if you have equity, there are several options, including a home equity loan, interest-only or a low interest adjustable rate mortgage.
When you're selling your home you may want to hold an open house. Watch out for people who claim to have more money than they do - they may be trying to scam you out of your home. One sign of this real estate scam is that the prospective buyers cannot provide identification.
House lotteries are illegal in most states. Some states allow lotteries of home but are generally organized by groups to benefit charitable organizations. You'll have to check with your state to determine if a house lottery is legal.
In simple terms, when people talk about the term "basis," that term refers to the cost of the property adjusted for improvements and can be adjusted up or down for other reasons. If the property was vacant land when you bought it and it cost you $5,000, your basis at that time was $5,000. If you put a home on it at a cost of $35,000, the basis of your property would have been $40,000 even though the home might have caused the land and home to be worth much more than the $40,000.
Selling a home through an auction or a real estate agent is up to the seller. It takes some investigating to decide if an auction or a real estate agent will get a higher price for the home. Auctions aren't cheap, but can be quick.
The IRS allows homeowners to avoid having to pay any taxes on the gain from the sale of their home up to $250,000 for a single homeowner or $500,000 for married couples if the homeowner has lived in the home as his or her principal residence for 2 years out of the last 5 years.Is there any way to keep the profits of a home sale tax free if you've lived in the home less than two years? The IRS allows some circumstances to avoid capital gains.
A homeowner wants to know how to calculate the cost basis on a home he received through a quit claim deed that has appreciated greatly in value. When it comes to calculating cost basis, you can include anything that was a structural fix. Also included in the cost basis are costs of the purchase and sale, including commission, advertising and marketing costs and any other fees you paid.
Homeowners lived in a home for 2 years and then rented it out for the past two years. They want to continue renting it out, but they will sell now if that's the only way to avoid capital gains tax. The IRS website is a good place to check for the tax implications before making any real estate decisions.