STEP FIVE… Price it right. The original asking price of your home has a huge impact on the ultimate sales price. If you price it too high, buyers will look for better values and your home will remain on the market longer. The longer your home is on the market, the less desirable it becomes to buyers—even if you eventually lower your asking price—because most buyers will avoid a home that others are avoiding. Conversely, pricing your home too low may result in a quicker transaction but will yield you less money in the end.

Related articles

• The five biggest mistakes home sellers make (theglobeandmail.com)
• Don’t Get Carried Away Fixing a Home You’re Going to Sell (homeloans.org)
• Average Cost of a Real Estate Agent (brighthub.com)
• Tax Aspects of Home Ownership: Selling a Home (turbotax.intuit.com)

HERE’S HOW TO AVOID IT… Many homes listed in magazines or on the Internet have already been sold. Your best course of action is to contact a real estate agent. They have up-to-date information that is unavailable to the general public, and they are the best resource to help you find the home you want.

 HERE’S HOW TO AVOID IT  …  Early in the buying process, ask your real estate agent or mortgage representative for an estimate of closing costs. Title insurance and lawyer fees should be considered. Pre-pay responsibilities such as homeowner’s association fees and insurance must also be taken into account.                                                                                                                                                                                                                         

Remember to examine your settlement statement prior to closing.

STEP THREE… Make repairs ahead of time. A long list of necessary repairs is a major put-off for most buyers, who may decide to move on rather than deal with the headache of fixing up the home. Do as many repairs yourself as possible, then hire a contractor to complete the rest. If you decide not to make major repairs beforehand, hire a reputable professional to provide cost estimates that you can show to any interested buyers to put their minds at ease.

STEP ONE. Hire a real estate agent. It may be tempting to list your home on your own to avoid paying a sales commission, but selling your own home is a full time job itself, A real estate professional represents the best opportunity to earn the maximum amount from your home’s sale. An agent will recommend the best listing price, market your home effectively and show your home to buyers. An agent also recognizes what buyers are looking for in a new home.

Related articles

• Average Cost of a Real Estate Agent (brighthub.com)

http://spreadsheets.google.com/pub?key=t-sKfrVl44u80ysk2nFNQFQ&output=html

Until February, I will try to simplify it.

Thanks,

Luis

How does a current home owner qualify for the $6,500 credit?
Buyers must have lived in their homes for at least five out of the last eight years. The home they buy must become their primary residence, but buyers don’t have to sell their previous home. They can use the previous home as a rental or a second home and still claim the credit.

Does the new home have to be more expensive than the one the buyer currently owns?
No. It is fine to use it to downsize. If the property sells for more than $800,000, the buyers don’t qualify.

Can buyers who are building a new home claim the credit?
Yes, although the contract must be in place by April 30 and the buyer must move in by July 1.

Can buyers claim the credit if they purchase a home from a relative?
No. The legislation prohibits taxpayers from claiming the credit if the sale is between “related parties,” including parent, grandparent, child, or grandchild.

Source: USA Today, Sandra Block (11/24/2009)