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·       Appraisals provide an objective opinion of value, but it’s not an exact science so appraisals may differ. ·       For buying and selling purposes, appraisals are usually based on market value — what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes. ·       Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value... Read Full Story

When you sell a stock, you owe taxes on your gain — the difference between what you paid for the stock and what you sold it for. The same holds true when selling a home (or a second home), but there are some special considerations. How to Calculate Gain In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate, follow these steps: 1. Purchase price: _______________________ The purchase price of the... Read Full Story

·       Consider comparable's. What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities? ·       Consider competition. How many other houses are for sale in your area? Are you competing against new homes? ·       Consider your contingencies. Do you have special concerns that would affect the price you’ll receive? For example, do you want to be able to move in four months? ·       Get an appraisal. For a few... Read Full Story

Make your home more appealing for yourself and potential buyers with these quick and easy tips: 1. Trim bushes so they don’t block windows or architectural details. 2. Mow your lawn, and turn on the sprinklers for 30 minutes before the showing to make the lawn sparkle. 3. Put a pot of bright flowers (or a small evergreen in winter) on your porch. 4. Install new doorknobs on your front door. 5. Repair any cracks in the driveway... Read Full Story

1. Remove clutter and clear off counters. Throw out stacks of newspapers and magazines and stow away most of your small decorative items. Put excess furniture in storage, and remove out-of-season clothing items that are cramping closet space. Don’t forget to clean out the garage, too. 2. Wash your windows and screens. This will help get more light into the interior of the home. 3. Keep everything extra clean. A clean house will make a strong first impression and send a message to... Read Full Story

With more buyers shopping for homes on the Web, photos and virtual tours are a must. There are many things you can do make your home shine on camera. 1. Understand the camera’s perspective. The camera’s eye is very different from the human eye. It magnifies clutter and poor furniture arrangement. To make a home shine in a virtual tour or video presentation, cater to the lens. 2. Make the home “Q-tip clean.” Because the camera magnifies grime, each room must be spotless. Don’t... Read Full Story

Provide the post office with your forwarding address two to four weeks ahead of the move. Notify your credit card companies, magazine subscriptions, and bank of your change of address. Create a list of friends, relatives, and business colleagues who need to be notified about your move. Arrange to disconnect utilities and have them connected at your new home. Cancel the newspaper, or change the address so it will arrive at your new home. Check insurance coverage for the... Read Full Story

·       Advertise your open house . Ideally you should advertise both the weekend before and the weekend of the open house. Check with the local paper to see when their ad closing deadlines are. ·       Create a property summary sheet. This sheet gives prospective buyers an overview of your home. Include dimensions for each room, copies of a property survey, summaries of utility costs and property taxes, and a list of when capital items such as roofs and furnace were added... Read Full Story

Garage sales can be a great way to get rid of clutter — and earn a little extra cash — before you sell your home. But make sure the timing is right. Garage sales can take on a life of their own, and it might not be the best use of your energy right before putting your home on the market. Follow these tips for a successful sale. 1. Don’t wait until the last minute. You don’t want to be scrambling to hold a garage sale the week before an open house. Depending on how long you’ve lived... Read Full Story

1. Property disclosure form. This form requires you to reveal all known defects to your property. Check with your state government to see if there is a special form required in your state. 2. Purchasers access to premises agreement. This agreement sets conditions for permitting the buyer to enter your home for activities such as measuring for draperies before you move. 3. Sales contract. The agreement between you and the seller on terms and conditions of sale. Again, check with your... Read Full Story