How to Prepare for Selling Your Home: FAQs
Updated: 2 days ago
Selling a home can be a complex process, and there are many frequently asked questions (FAQs) that homeowners often have. Here are some common questions and answers related to selling a home:
How do I determine the value of my home?
I will do a comparative market analysis to estimate your home’s value. Not only will I look at other properties similar to yours that sold, but I’ll also take into account the current market conditions and any work you’ve done or plan to do to get your home ready to sell. Things like staging, repairs, and refresh projects can add a significant amount of value.
Should I make repairs or renovations before selling?
It depends on the condition of your home. Minor repairs and improvements can make your home more attractive to buyers, but major renovations may not always offer a good return on investment.
What's the best time to sell a home?
Spring and early summer are often considered prime selling seasons, but it can really vary depending on market conditions. The “best” time to sell is when it makes most sense for you and your life circumstances. Regardless of when you sell, there are things you can do to maximize your profits – I’ll walk you through those.
How much does it cost to sell a home?
Selling a home typically involves costs like agent commissions, closing costs, and potential repair expenses from an inspection. These costs can vary, so it's essential to understand them in advance. I can provide you estimates of costs and proceeds specific to you and your home.
What paperwork do I need to sell my home?
As a seller in Colorado you’re required to complete specific documents and disclosures including a seller’s property disclosure, source of water addendum, and square footage disclosure. I’ll walk you through all necessary paperwork. It’s also important you have your loan information handy and helpful if you have documents on any warranties or recent work done.
Do I need a home inspection before selling?
While not required, having a pre-listing home inspection can help you identify and address any potential issues in advance. It can also make your home more attractive to buyers. This is often a service I pay for as a part of my marketing plan to my clients.
Will I need to pay taxes on the profit from selling my home?
In the United States, you may be eligible for a capital gains tax exemption on the profit from selling your primary residence if you meet certain criteria.