Search Homes   Areas   Relocation   Buyers   Sellers   Kids Only   FAQ   About Us
Page Photo
Frequently Asked Questions About Selling a Home

View My Portfolio of Saved Listings
(Requires that cookies be enabled to work properly)

Will I owe taxes when I sell?

How do you determine market value?

What is title insurance?







Will I owe taxes when I sell?

Every year, a great majority of folks sell their homes and walk away with all of their proceeds tax-free. Now, married taxpayers who file jointly now get to keep, tax free, up to $500,000 in profit on the sale of their home, as long as they lived in it for two of the prior five years. Single folks and married taxpayers who file separately get to keep up to $250,000.
Back to top.

How do you determine market value?

There are a number of factors that play into determining market value. Location plays a very important part. If there are recent sales that have occurred in the same neighborhood as the subject property, these are going to play a more vital role in pricing. This is why the exact same home in another market may differ in pricing by thousands of dollars. Condition and marketing can also make or break market value. If the property condition is such that the home shows better than other homes, it should see a more attractive offer than others. You can also expect a faster offer if the condition is above average. A qualified Realtor should get you a good list of "comps" to determine value that would help the house to turn over within 60 days.
Back to top.

What is Title Insurance?

Title Insurance is a contract and guarantee between the insurance company, an owner, a buyer and/or a lender involved in a real estate transaction. The title insurance company is responsible for examining and evaluating every document which has been recorded pertaining to a piece of property dating back to its creation. Title Examiners compile this information and determine its affect on the parcel of land to be insured. A title commitment is then issued reflecting information identifying the current property owner, legal description, liability amounts the insured, as well has information pertaining to rights of way and easements. The requirements page of the title commitment lists items needed to be recorded in order to issue a policy guaranteeing ownership of the interest to be insured. Additionally, title insurance covers risks such as forgery, fraud, and other matters not necessarily reflected on the public record.
Back to top.

More Frequently Asked Question for Sellers coming soon!

        

      

Valid CSS!    Valid XHTML 1.0!