Real Estate Tip of the Day
Know your numbers when selling a home.
- How much will you profit, from the sale of your home?
- Do you have a mortgage? If so, how much is owed?
- What local property taxes do you owe?
- What closing costs are you responsible for, as a Seller?
- Don’t be surprised the day before closing.
Your Realtor should have gone over all of these numbers with you prior to selling your home. Selling a home, is never taken lightly and your final decision on whether or not you will sell you home, will likely be based upon how much you will profit from the sale of your home.
When selling a home you have a number of closing costs that will be deducted from the sale price. You need to be aware of these and plan for these costs. These numbers should be presented to you, at your listing appointment, from your Realtor you’re considering hiring to sell your home, in the form of a Seller’s net sheet. You shouldn’t have to ask for this, as it should be common place. Not only is it important for you to know as a homeowner, but the Realtor selling your home needs to make sure that there is enough profit from the sale of your home that you won’t have to worry about contributing dollars to sell your home; should you be upside down (owing more than home’s worth) where the closing costs eat up your profits. You don’t want any surprises when you’re days before closing and you’re told that you’ll need to bring dollars to closing because your closing costs and mortgage balance exceed the purchase price. There are instances in which a homeowner would consider contributing to the sale of the their home if they’re in a position to afford the contribution, plus they may have to sell their home for a number of different reasons. When this is the case, homeowners will always want to know the estimated numbers in advance, before they sell their home.
So remember, don’t wait to the last moment to found out your profit from selling your home. Be wise and don’t overlook what you need to know when selling a home.
Call me, Lynn Pineda, at 954-464-1100 and I’ll provide you with additional Real Estate tips and answer your question; “should I sell my home now”. Or feel free to email me at LynnP@ImagineYourHouse.com.
Article written by South Florida Realtor, Lynn Pineda. Keller Williams Coral Springs Realty. April 11, 2014.