SELLER FAQ
How do I determine the value of my home?
A professional real estate agent can provide a Comparative Market Analysis (CMA) to assess your home’s value based on recent sales of similar properties in your area.
When is the best time to sell my home?
The market varies, but spring and summer are typically popular times to sell. Your real estate agent can advise you on the best timing for your specific location and market conditions.
What should I do to prepare my home for sale?
Start by decluttering, deep cleaning, and making any necessary repairs. Staging your home to appeal to buyers and improving curb appeal can also make a big difference.
Do I need to make renovations before selling?
Not always. Focus on cost-effective updates like fresh paint or minor repairs. Major renovations should be carefully considered, as they may not always provide a good return on investment.
How long will it take to sell my home?
The time it takes depends on the market, price, and condition of your home. On average, homes can sell within a few weeks to a few months, but your agent can help expedite the process.
What are closing costs for sellers?
Sellers typically pay real estate agent commissions (5-6% of the sale price) and may also cover title fees, transfer taxes, and prorated property taxes. Your agent will provide an estimate.
What’s the difference between a buyer’s market and a seller’s market?
In a buyer’s market, there are more homes for sale than buyers, leading to lower prices. In a seller’s market, demand exceeds supply, often resulting in higher sale prices and quicker sales.
How do I handle multiple offers?
Your real estate agent will help you compare offers based on price, contingencies, and buyer qualifications to ensure you choose the best option for your goals.
What happens during the home appraisal?
The buyer’s lender will arrange an appraisal to ensure the home’s value supports the loan amount. If the appraisal comes in low, your agent can help you navigate the next steps.
Do I have to pay taxes on the sale of my home?
You may be exempt from capital gains tax if you’ve lived in the home for two of the last five years and your profit is below the IRS thresholds ($250,000 for individuals, $500,000 for married couples). Consult a tax professional for details.