One of the most misunderstood topic is the Capital Gains tax and how it might apply to you when you sell your home.   It is really very simple.

If you have lived in your primary home for at least 2 years, you are exempt from any Capital Gains tax under these two circumstances:

            1)         If the total gain on your property less improvements is
                        under $250,000 for a single person

            2)         If the total gain on your property less improvements is
                        under $500,000 for a married couple.

Example:

Purchase of Home Improvements over 2 years Total Investment Sale of Home in 3rd year  Net Gain

$100,000 $  10,000 $110,000 $125,000 $  15,000

The net gain of $15,000 falls well short of the allowance of exemption of tax for either $250,000 for single person or $500,000 for married.

Therefore, no capital gains would apply.

Capital gains may apply if your property is sold in less than two years, and/or if you are an investor in properties as a business.

For more information on this, or other questions……

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1. Sellers often price their home based on "need" rather than the market.



2. Sellers use the 'wrong' properties for comparison when pricing.



3. Sellers build in a 'negotiating cushion' and then have no one with which to negotiate.



4. Sellers take advice from 'well meaning' but uninformed p parties.



5. Sellers allow positive emotions about their property to influence their pricing decisions.



6. Sellers mistakenly believe that others will automatically like their taste in decorating and do not neutralize their home to attract a wider market.



7. Sellers often overlook the small details that will set their home apart.



8. Sellers mistakenly price their homes originally too high hoping to get "more" for their home; and will lose buyers because their home does not compare to others in the same price range.

1. Who is professional in appearance, attitude, demeanor and capability.



2. Whose company has a strong local reputation for service, ethical performance and available resources.



3. Who is willing to prepare, present and commit to a written comprehensive marketing plan.



4. Who is willing to commit to a schedule of communication, follow up activities and attending to details.



5. Who has experience and knowledge of the local marketplace.



6. Who is skilled and accomplished in formulating and implementing effective negotiating strategies.



7. Who has a reputation for caring, committed and trustworthy service.

• False impersonation of the true owner of the property
• Forged deeds, releases or wills
• Undisclosed or missing heirs
• Instruments executed under invalid or expired power(s) of attorney
• Mistakes in recording legal documents
• Misinterpretations of wills
• Deeds by persons of unsound mind
• Deeds by minors
• Deeds by persons supposedly single, but in fact married
• Liens for unpaid estate, inheritance, income or gift taxes
• Fraud

• Who the owner is,
• How title is vested in the owner,
• What outstanding liens are attached to the property,
• What other encumbrances (easements, etc.) exist on the property.

• Make sure interior & exterior painting is in “new condition”.
• Screens should not have holes, and windows should work well.
• If necessary, power wash exterior of home, especially the front of the home.
• Extra cleaning may be necessary for dust collecting places.
• Carpets should all be professionally cleaned & spot free, replace if necessary with
• remnant.
• House pets should be kept under control at all times. Eliminate pet “odors”.
• All appliances should be in good working order.
• Buyer’s first impression on the exterior of the house is important. Do any necessary
repairs to improve the home.
• Buyer’s first impression on the interior of the house is important too. Complete all
• repairs to improve interior.
• Buyers will often look in closets. Remove unnecessary clutter to make closets appear roomier.
• Take items from kitchen cabinets to make them look more spacious.
• Rearrange or remove furniture to make rooms appear larger.
• Be sure any cabinets are touched up or refinished, Old English can do wonders.
• Replace old doormats with any family name of them.
• Garage and any storage areas should be neat and clean.
• See that all landscaping is in good order, trimmed or pruned, add new wood
chips if necessary. Add flowers to enhance curb appeal.
• Keep lawns mowed in spring & summer. Remove snow from walkways during winter months.

• When showing or having an open house: fresh flowers on table or countertop, lit
• Candles, and a baked cake can create an attractive, cozy atmosphere.
• Spray fresh room fragrance for a delightful ambiance.
• Turn on all lights in every room; open all window shades for extra light.
• Turn on stereo or a cd of quiet, soft music.
• Be sure all personal items are picked up & put away.