| |
|
 |
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 more 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.
|
|
|
|
