Tag: selling a home

How To Know The Repair Costs Before You Sell Your Home?

How To Know The Repair Costs Before You Sell Your Home?

Nakul Kongovi | January 30th, 2017

Planning to sell your home? If yes, have you assessed the condition of your property? Do you know about the things you need to take care of before listing your home for sale? Most homes, before going on board for sale, need few repairs, and these can be something as minor as a leakage in a tap, or a major one such as an issue in the foundation. Whatever it is, and however big it is, always take these repairs into account.

So now that you know you just cannot ignore the fixes, you should also keep in mind the size of the hole in your pocket, that these fixes are sure to burn. Because you don’t want to end up spending all your money for a few minor repairs and then have nothing left for the major ones!
But how do you start? Where do you start? Read on…

Know the “Big Burners”

The best way to determine whether your money on the repairs is worthy enough, is to make a note of some of the repairs, which are sure to burn a hole in your pocket.

These include :

1. Faulty Chimneys and fireplaces
2. Roofing and Structural Damage
3. Replacing a damaged Driveway
4. Electrical Repairs
5. Fixing a Sewer Line
6. Replacing a HVAC Unit
7. Termites

Get Inspected

All these repairs can easily cost you around $1000 and more. And Houston house buyers would definitely want these fixed before deciding on buying your home.

Get Inspected

Selling a home to buyers these days is not an easy job. They don’t get impressed easily, and to make it worse they even hire a home inspector for a thorough check of your house. So even before that, hire an inspector yourself. Your inspector will go through every nook and corner of your home and report back with everything that has to be taken care of before listing it. By doing so, you can eradicate all those issues that you yourself would never find!

Get Your Quotes

One way to sell your home without incurring any loss, is to get your numbers before hand. Get an estimate for every single item on your inspector’s report, which you cannot handle by yourself. Once you have the numbers, sum it up and subtract it from the average sales price of your home. ( You can get this by comparing your home with the other similar ones on sale in the neighborhood ) Suppose your cost for the repairs is about $20,000, and the average sales price of your home is $170,000 then your profit is about $150,000.

But keep in mind that this does not include some of the other major expenses like tax, homeowner’s fee, utilities fee and insurance which you need to pay when selling a home.

Home Investor – A One Stop Solution

When you have major repairs while selling a home, getting in touch with a good home investor might be something for you to think about. A major advantage of acquainting with a home investor is that you don’t have to spend your “repair money” at all. With absolutely no obligations, you can get a quote within a couple of days from your home investor and you do not have to worry anymore thinking “How to sell my house Houston?”

Selling a home amongst the present Houston home buyers is not an easy task unless you know how to work around the entire process. On the other hand, you can just avoid all the hassle and just get in touch with a reputed Realtor such as Realty Simplified LLC to sell your house fast Houston. To know more, call us or drop a mail.

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    Tips To Handle Home Inspection When Selling a Home

    Tips To Handle Home Inspection When Selling a Home

    Nakul Kongovi | December 29th, 2016

    When selling your home, the last thing you would want is a home inspector to cause troubles or even break a fixture, just because you were not prepared for it. Almost 90% of the home buyers tend to hire professional home inspectors to have a closer look at your home, before deciding to buy it. You can thus speed up the entire  process by analyzing your home and taking the necessary steps, before or even during the inspection.

    So what are these hot-spots that you need to consider during the home inspection, so that selling your home becomes easy? Let us look into a few of them.

    Thorough Research

    As a seller, it is very important that whatever name is suggested by the buyer for your house inspection, do a complete research on that inspector. Always make sure that the person inspecting the house is a certified professional who stays current. Make sure of his qualifications and the type of inspections he has done before, to get an idea on how the entire process will be handled. Because a house inspection is only as good as the inspector is!

    Attendance

    Just going through the home inspection report to know what exactly happened during the inspection is not just enough to get the complete picture. You need to be  present in your house while the inspection is going on. Because if you don’t see it, you don’t understand it. As the inspection takes quite a bit of time, sometimes an entire morning or an afternoon, it is important that you make time for it before hand.

    When selling a home, you often have to spend a lot of time tending to such issues, to make sure you sell house fast Houston.

    “Read” The Report

    Once you get the report, do not make the same mistake that the other sellers tend to do. Just glancing at the house inspection report before throwing it somewhere, is the same as not having an inspection done.

    When you have a knowledgeable pro inspecting your house, the reports will be straight and easy to understand. In the form of photos with illustrations, these reports will point out the strengths, weaknesses, what’s wrong and what will it need, to be fixed.

    Make sure that you go through the report thoroughly as these points will make a huge difference when you are selling your home.

    Prep The House

    When I say prep your house, I don’t mean that you need to make sure that all the issues such as leaks, cracks or clogged drains have to be fixed. Because you would have taken care of these before hand. But when an inspector visits the house, you need to be completely “prepared”. Do not make the inspector empty your closet to get into the attic. Or do not make the inspector to move certain things out of his way inside the house.

    If you have a basement or a shed that is locked, make sure it is accessible when the inspector arrives. You do not go scrambling for the keys when he is waiting outside. Such small things usually tend to annoy the inspector, and this might have an impact on the report as well.

    Prep The House

    Presale Inspection

    As a seller, never leave presale inspection to the buyers. Because when the buyers come for house inspection, you will absolutely have no time to complete the repairs and tend to other issues.

    On the other hand, if you get your home inspected, before putting it out on the market, you get more time to get the repairs and other home related issues to be done with. And with some extra time in hand, you can surely bring down the cost as well.

    Selling your home is very easy now. Get in touch with Realty Simplified LLC and we will buy your house in Houston. Call us or drop a mail and you can stop worrying about ‘how to sell my house fast Houston!’ Spot offers, fast cash and more for your property in Houston.

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      I Want to Sell My House. How Long Will It Take?

      I Want to Sell My House. How Long Will It Take?

      Nakul Kongovi | December 22nd, 2016

      When I planned to sell my house a couple of years back, the first question that came to my mind was, how long will it take? This question is in fact in the minds of everybody who are either buying, or selling a home. But the thing is, you can never predict how much time it takes to ssell a home. Disappointed? Well, as a homeowner it is obvious that you will be disapointed with this piece of news.

      But don’t worry, if not a crystal ball, there are a few factors which can help you in predicting how long will it take before you sell your home. Let us know a bit more of these factors now.

      Condition of the House

      This is a very important factor when it comes to selling your home quickly. Nobody wants to buy a home which doesn’t have that “Oh! it is beautiful” factor in it. And to make things better, it is very well known that the homes which are updated, well kept with a great curb appeal, often tend to sell quicker in the market.

      Forget the thought that “I want to sell my house” for a moment and walk through your home as though you want to buy it. The paint of the walls, the bathroom tiles, or the chandeliers in the living room, anything might affect your idea of buying this house. So by acting as a buyer yourself, once you figure out what the problems are, work on those and you will definitely sell your home real quick.

      Price of the House

      If you don’t set your price right, you know you are going to be in the market for a really long time. This is even proved by the National Association of Realtors’ report which says that the homes priced at the market value actually bring in 60% of the potential buyers. But most of the agents use a smart strategy to attract an even higher percentage of buyers. They price the property a little less than the market value. This strategy not only brings in more buyers, but also helps you to sell your house fast.

      Find the right agent who can help you determine the exact value for your home such that your price would not drive away your buyers. You can even go an extra step to keep the price little lower, so that you attract more buyers.

      comparable homes

      Location of the House

      Even the first rule of real estate states that location of a home is very important. If Your home is in one of the most sought after areas, you wouldn’t have to wait too long before a potential buyer wants to buy your house. But on the other hand, if your home is situated in places such as next to a toxic bin, it is going to have a negative effect when selling your home.

      If caught up in such a situation, build up an environment around your home such that the bad location does not affect your home much. High wooden fences or a row of tall trees around the house are some of the ways in which you can handle this situation.

      Comparable Homes

      When you think of how to sell my house fast, on thing that comes to your mind is how are others selling their home fast? The answer to this question will certainly solve a great number of your problems. Because, when you look around for the recent sales in your locality, you can find a lot of homes similar to your yours, the price they were sold for, and also the amount of time they stayed in the market. This piece of information will surely give you some information about how long your house is going to be in the market.

      Always remember that, as an average owner, for you to sell your home fast Houston, it requires the right combination of price, attributes and the time on the market. But if you do not have time to take care of such factors, and you want to sell your home fast, get in touch with Realty Simplified LLC. We buy houses Houston under any condition, and offer quick cash in return. Call us or drop a ail to know more about how to sell house fast Houston.

       

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        Tips For First Time Home Buyers In Houston

        Tips For First Time Home Buyers In Houston

        Nakul Kongovi | December 16th, 2016

        If you are a first time home buyer in Houston, buying a home can get to be a very stressful process. You won’t know what to expect, or where to start with, but most of the things especially the issues can be resolved by doing a small research about your housing market before you start off. The entire process may sometimes just get over in a month or two, or it can even go up to several months. So it is important that, as a home buyer you have patience and endurance to find the house that is right for you.

        First Time Home Buyers In Houston

        1. First things first, even if there are concerns all around regarding the falling oil prices, and the restructuring within the energy sector, Houston continues to be one of the healthiest housing markets in the country. Aided by the low mortgage rates, the housing markets in Houston continue to grow and home buyers continue to buy homes and invest in Houston’s real estate market.
        1. Planning on getting a mortgage? The first thing you need to do is check your credit. Because your credit score is one of the factors which plays a major role when it comes to qualifying for a mortgage. You can use your free credit report services which are available online, to check your credit. One thing to note is, lower the credit utilization ratio, higher will be the score. And with a history of successful paying off outstanding loans, you can have a stronger credit score.
        1. There is no “right time” to buy house in Houston. When you find a Houston home which you like, do not hold back on the reviewing process by waiting. It is a common misconception that if you wait the price will change within a few days. Changes don’t occur so fast enough to make a huge difference in the price. And to make it worse for you, the home which you liked might not stay for long in the market.
        1. Don’t get so caught up with the physical aspects of the home, like the interiors, the size of the rooms and the kitchens that you forget about some of the minimal factors which play a very important role. When you buy house in Houston,it is not only the house that you buy, but also the environment around it. Make sure that you check issues such as amenities, noise level, pollution level, etc because these have a huge impact on what it is to live in a Houston home. 
        1. Do not go into a fierce negotiating spree! Negotiations are good when you buy a house in Houston, but overdoing it can actually result in the deal being called of from the seller. As a home buyer, in a bid to get some extra low price for your home, you may end up losing a good property to other home buyers. Learn about the market first, know how much you need to negotiate for, and only then talk to the seller about it.

        The more you know about the process, the more easier will it be for you. As a home buyer, try to stay in touch with the changes in the real estate market,talk to people, watch out for the rate drops or increases carefully. When you have all the information that you need, you will easily be able to get the home you have always dreamt of, in Houston.

        At RealtySimplified LLC, we buy houses Houston for cash, under all conditions. Get in touch with us to get fast cash for your house in Houston. Call us or drop a mail to know more about how to sell house fast Houston.

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          Tips To Resolve Title Issues When Selling a House

          Tips To Resolve Title Issues When Selling a House

          Nakul Kongovi | December 13th, 2016

          If you are planning to sell your house fast Houston, it is important that you take care of all the title issues of the house, and make sure that they are resolved before you sell your home. Let us discuss a little more about these title issues and how to resolve them.

          It is always helpful when you know what you are dealing with, when it comes to the various title issues of your house. Some possible issues involve:

          • Boundary disputes
          • Federal or local tax liens
          • Claims by missing heirs
          • Liens based on the work done on the property
          • Various other ownership claims

          If you are a seller, planning to sell your home, or an investor looking to buy a property, some of these tips will help you in dealing with the title issues of your house. 

          Opt For a Title Company

          When selling your home, an efficient and proactive title company can be a huge sign of positiveness for you. Choose a right company so that they can do a complete research on your property to find out more about its title problems. While selling your home, you may have many questions and doubts regarding the title problems of your house, so make sure that you communicate with the company on a regular basis and that they are available for consultations when you need them.

          At the same time, you should also make sure that the company reports back to you on a regular basis regarding the various updates on the issues. If you find that they are not able to communicate properly, you may want to change the company you are working with.

          Tips To Resolve Title Issues When Selling a House

          Find a Proficient Real Estate Attorney

          Happy that you could identify the title issues? Well, it is not time to relax yet. After identifying these issues, you need to get in touch with a capable attorney who can guide you on how to handle these issues. A good attorney will also be able to give you an estimate on how much will it cost to resolve these issues.

          When choosing your attorney, make sure that you don’t just pick someone out from the blue. Do a bit of research of your own, background checks, their works, their clients and their experience in handling such issues. Look out for attorney with lot of experience and credentials as they will be capable enough to handle any kind of problems with ease. After selecting a few of them whom you may be interested in, interview the attorneys to know more about their works, and the clients that they have dealt with.

          A good attorney plays a major role in helping you to sell your home even when it is loaded with issues or problems.

          Find Easy Ways

          It doesn’t matter if you are a seller, trying to sell your house fast Houston, or an investor opting to buy properties, you wouldn’t want any extra work to burden you. We can help you in handling the issues without you having to break your head about it. this means that getting cash for your house which has title issues is much easier than you thought.

          At Realty Simplified, you can cash for your house in Houston without any of the hassles that you experience with title issues. We buy houses Houston as it is, and even provide instant cash for your house. Get in touch with us to know more about how to sell your house fast Houston.

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            Top 4 Areas You Tend To Overlook When Selling Your Home

            Top 4 Areas You Tend To Overlook When Selling Your Home

            Nakul Kongovi | December 2nd, 2016

            When you are selling your home, only you know about the effort it takes to get everything right, before even listing it out in the market. From taking care of the minor repairs to cleaning each and every corner of the house, it surely is a meticulous task.

            With so much hustle and bustle, it so happens that sometimes you tend to overlook a few areas. Such areas, though not significant enough to worry about, can still have a negative effect on your buyers. Let us have a look at some of those areas which you might be overlooking in your Houston home.

            garbage-disposal

            Garbage Disposal

            A kitchen appliance that all of use everyday, and yet avoid cleaning it on a regular basis. Well, before selling your home, you need to clean it thoroughly. The junk thrown down the disposal everyday leaves a lot of residue that accumulates and causes a clear-cut foul smell eventually. And you wouldn’t want a buyer to wince at that smell when he visits your house right?

            You can make use of dishwater soap and water to clean it once everyday. If that does not work, sealing it with baking soda and vinegar will surely do the trick. But do not forget to give it a quick rinse after letting the seal sit for a while.

            Washing Machine

             Planning on selling a house with a washer and dryer included, you better make sure that they are clean and working properly. Sometimes chances are that a mildew may develop in the washer if you leave wet clothing in it for too long, and this may even affect its working condition. One of the most simplest ways to clean the washer is to  fill it with hot water, add a bit of detergent and run a complete wash. After finishing, just run another cycle with just the hot water.

            If this doesn’t work, cleaning it with vinegar will surely help you get rid of the mildew. Before selling a house, it is important that you make sure the appliances you include are in perfect working conditions. You do not want them to be something a buyer can use against you when buying your home.

            Dishwasher

            Just like your washing machine, if your dishwasher isn’t clean, it will not work properly. Just like mentioned earlier, you can easily clean your dishwasher by using vinegar. Fill a container with warm water and two cups of vinegar. Soak the dishwasher’s arm, grate and filter in the container and let it dry. Wipe down the inside of dishwasher and put the parts back before running a cycle with two cups of vinegar.

            When you include such appliances along with your home, they can sometimes turn out to be a disadvantage for you. Thus before including such appliances, check their working condition and fix it, if needed.

            Home Air Filter

            DO NOT forget to replace your Home Air Filter. It is very important to replace them once in every month. Though some of them allow you to do this once in every three months, it is necessary to change it, especially when selling your home. The air filters are the ones which filter out all the pollutants and the allergens from air, thus allowing you to breathe in clean air and stay healthy.

             When you plan to sell your house fast, it is quite common that you might overlook a few areas. But if you make sure to give attention to some of the smallest details, you can surely avoid such mistakes. On the other hand, if you feel all this is a little bit too much to work on, you can sell your house with Realty Simplified LLC. We buy houses Houston under any condition. Call us or drop a mail to get instant  offers on your home and too know more about how to sell your house fast in Houston.

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              5 Reasons Why You Are Not Able To Sell Your House

              5 Reasons Why You Are Not Able To Sell Your House

              Nakul Kongovi |November 24th, 2016

              So, seems like we have a bit of a situation here. Selling your house has been very difficult. It just won’t sell! You listed the house, put a decent enough price two months ago, and though the price was comparable to the other houses on sale in the area, offers have not come in. Your agent suggested lowering the price a bit so that potential buyers come in. Not a single offer yet.

              As a seller, when such things happen, it gets really annoying and frustrating. But don’t worry, your house is not going to sit in the market forever. The reason that it is still not sold is that you have not taken care of a few things. Let us know more about those reasons responsible for you facing difficulty while selling your house.

              You are Over Confident

              One advantage of being in a seller’s market is that your house will certainly be sold for a very good price, irrespective of its condition. But the story is not the same everyday. At certain times, the homeowners and the agents get so overconfident about this fact that, they tend to ease out a bit, or neglect the house which is on sale.

              You are over confident

              No matter what the state of the market is, DO NOT stop giving attention to your home. Staging it, taking care of its curb appeal regularly, looking out for other minor repairs in the house, are some of the things you need to keep in mind when selling your house.

              Your House Is In No Condition For Sale

              Sometimes, buyers just don’t feel like buying your home, just because it does not have that appeal. It can be the bright pink bedroom walls, the broken bathroom tiles, untidy storage room, or anything else that gives a bad vibe to the buyer. You may not notice them, or sometimes you may ignore these small things. But keep in mind that such factors are the ones which really have an impact on the buyer.

              Your House Is In No Condition For Sale

              A little bit of time and money is all it takes to fix such things which might be driving away the buyers. If you are not sure about what exactly you need to do, visit a few other houses on sale in your neighbourhood. You will surely get an idea of what you are up against.

               There Is a Problem With the Documents

              One of the main reason, a house won’t sell is because there is some problem with the documents of the house. Usually when a buyer sees that your documents are not perfect, it usually spooks him out and they immediately back out.
              Is A Problem With The Documents

              It can be a paid-off mortgage that is still showing up, the mechanic’s lien that was files for work done on the house, or anything similar which can lead to the buyers deciding to skip your home. Your agent will help you out on what you need to do for your documents before you put up your house for sale in the market.

              Your Home Has Not Been Marketed Well

               Although you want to stay free from all the marketing responsibilities of selling your home by handing over everything to the agent, it is not advisable to do so. Poor marketing might be one of the reasons why your home is still in the market, because most of them don’t know that it is on sale!

              Your Home Has Not Been Marketed Well

              Flyers, advertisements on newspapers and magazines, social media and television are some of the means which you need to make use of to market your home in a competitive real estate market.

              Your Agent Doesn’t Really Care

              Sometimes there is absolutely nothing wrong with home: It is priced right, ad maintained perfectly as well. But it might be your agent who could be driving people away from your home. He might not be taking care of the listings, and could even be misleading you in some aspects of selling your home! t is important that you take extra care while selecting your agent, as he is going to be one of the crucial factors for you to sell your house fast Houston.

              realtors-doesnt-care

              As your front-line representative, an agent with explicit social skills and a good personality is the kind whom you actually need.

              The simplest solutions are always the right ones. By incorporating these simple changes, you can easily sell your house fast Houston. But if you don’t have time to make these changes, and you need to sell a house real quick,contact Realty Simplified LLC. We buy houses Houston and offer quick cash, irrespective of the condition of the house. Call us or drop a mail to know more about how to get cash for your house in Houston

              Get Your Free Cash Offer


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                5 Sites To Find How Much Is My House Worth

                5 Sites To Find How Much Is My House Worth

                Nakul Kongovi | Nov 18th, 2016

                These days, selling a home can feel like playing poker in the casinos. You might walk out thinking of yourself as a winner, but you actually have no idea how much money you lost or you might have left on the table. This is the kind of fear that grips most of the home sellers these days. As a home seller, it is very difficult for me to know how much is my house worth!

                5 Sites To Find How Much Is My House Worth

                But with the help of one of the greatest evolution in the past decade, The Internet, most sellers are finding it easier to at least estimate the approximate value.Let us find a bit more about what can internet and its sites offer us when it comes to selling a home.

                Zillow Estimator

                This one right here is a self-developed Automated Valuation Machine (AMV) and it can present a current market value estimate of millions or even billions of homes all around. Its robust database stacks huge amount of information from various sources in order to predict an approximate value of a home using complex algorithms.

                However, there is a speculation from a few experts that the values predicted by this home value estimator is wildly inaccurate or inconsistent in nature.

                Chase Home Value Estimator

                Developed by the Chase Bank in US, this home value estimator is useful for both buyer and the seller. It uses its database which stores information about millions of home sales in and around the area. The process is also quite simple where you just enter the address of your house and click “Get Value” to view the results.

                But one downside to this site is that, the database is updated very slowly, due to which, claims of outdated database and inaccurate pricing is very high.

                Eppraisal Estimator

                Selling a house using this site is a bit constrained as it estimates the cost of your property based on the recent sales record of just 20 similar properties.Though short on the number of options, this site includes the detailed property information, analysis of the surrounding area and comparable properties for those of you digging out for more information. With its more updated database and analytical nature Eppraisal is your choice if you are looking to selling a home using the traditional methods.

                Redfin Home Value Estimator

                This estimator is said to have the lowest error rate in the real estate industry. Chosen by most people who plan on selling a home, this site evaluates properties on the MLS to calculate the current market value of your house. With instant results and the option to view the comparable properties in your area, this estimator is certainly the best option out there. On the not-so-bright side, beware of your security as Redfin has been accused of selling client information to real estate agents.

                SmartZip Estimator

                This site is a combination of data analytics and the real estate industry on a single platform. Mainly for the people with the knowledge of business analytics, this tool identifies potential sellers through predictive data analytics and demand trends. In addition, the system also introduces smart CRM follow-up tools to ensure that the estate agents get the best available deal.

                While selling a home, setting the right price is a very important factor, where you cannot afford to go wrong. With a number of sites and online tools available, selecting the right one for your property is a consequential decision to make. If you are planning on selling a home, and at the same time want to stay away from all the hassles, contact Realty Simplified LLC. We buy houses Houston, under any condition, and we help you in closing the deal within a few working days. Call us or drop a mail to know more about how to sell my house fast Houston.

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                  Selling A House Off-Market In Houston – Need To Know

                  Selling A House Off-Market In Houston – Need To Know

                  Nakul Kongovi | October 26th, 2016

                  Selling a house becomes easy and hassle-free with the assistance of a real estate agent, and we all know it. Even when it is about listing a house in the real estate markets in Houston, the task can be accomplished easily with a brief knowledge about the platforms to be used.

                  However, when it comes to selling a house off-market, house-owners or property-owners tend to get disappointed within a couple of days! Well, if you are planning to sell your house in Houston, but off-market, you can sell it easily by following some of the common and easy tips. Listed below are three tips to sell a house off-market:

                  1. Sell Your House By Making It Sale-Ready:

                  Next time when you go to any of the super-markets in Houston, would you buy the household commodities that are spilled, broken, or packed indecently? The answer would be a sure ‘NO’! Assuming a buyer in your place, even he/she would have done the same thing!

                  picture109

                  Now, when both you and your buyer are not ready to buy the commodities in poor condition, do you think anyone would show up to buy a house that is messed up or is not sale-ready? Definitely NOT! If you are planning to sell your house off-market, you must make sure your house is ready for the sale. And to bring it to such a stage, you must clean up the entire premises, fix the minor as well as the major issues, stage it nicely, and follow other tips to attract buyers off-market.

                  2. Inform Everyone While Selling Your House:

                  Unlike other sellers, you are selling your house off-market! And while doing so, it is obvious that you cannot have the privilege of listing your house in some of the most sought after house-selling portals or the real estate markets in Houston.

                  picture110

                  Well, if this is the case with you, you don’t have to panic! Just take a five and start using your network! Inform all the relations you have; relatives, friends, colleagues, and others that you are selling your house. One or the other will surely work for you!

                  3. Sell Your House By Being Honest:

                  Always remember, you are selling your house off the market! You don’t have an estate agent who will attend the probable buyers enquiring for your house. When it comes to attending the guests to show your house, it’s only you who have to attend them and show them your house.

                  picture111

                  And while doing so, you must be honest to show them every corner of your house. You have to answer all their questions and queries about the house. Also, while you get calls to show your house, you must ensure that you keep yourself free enough to comply with them and show them your house.

                  Well, in addition to all these three tips, you can also sell your house in Houston with Realty Simplified, LLC. We buy houses in Houston and offer spot cash on them. Call us or drop us a mail to know more about how we can buy your house at lightning fast speed!

                  Get Your Free Cash Offer


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                    Know How You Can Save Tax While Selling A House

                    Know How You Can Save Tax While Selling A House

                    Selling a house in Houston? Well, if yes, you must know that you can save a plenty of taxes while selling a home in Houston or across any corner of the globe. However, there are certain tax tips that should be followed in order to avoid paying a hefty amount of tax while selling a house.

                    Here are some of the common tips that are usually ignored while selling a home. Follow these tips to sell your home like a tax saving pro!

                    1. Pass Ownership & Use Test While Selling a House:

                    Selling houses at different time period can result in different results. For example, if you are selling your home within the first 3 years of your purchase, the capital gain will be termed as a ‘short term capital gain’ and is levied with a marginable tax. On the other hand, if you plan to sell your home after 3 years of possession, it will result in a ‘long term capital gain’ that comes with 20% tax rate.
                    Know How You Can Save Tax While Selling A House97
                    However, if you planning to sell house fast Houston, after 5 years of purchasing it; and 2 years of living in it, you can escape a fixed amount of gain from the sale.

                    2. Sell Your Home Where You Have Lived the Most:

                    Selling a house usually comes with various conditions and guidelines. This becomes prominent in case you own multiple homes at one time.
                    Know How You Can Save Tax While Selling A House98
                    In such cases, the above mentioned point can be implied only on your main home. If you want to enjoy tax benefits out of the sale of your property, make sure you are selling the house where you have lived the maximum number of years; as it will be considered as your main house.

                    3. Think About Exclusion Limit While Selling a House:

                    Tax-free amount varies according to your status! If you are still a bachelor, you can treat $250,000 as a tax-free amount. On the other hand, it differs from that of the married couples; they can treat $500,000 as a tax-free amount while selling a home.
                    Know How You Can Save Tax While Selling A House99
                    This exclusion can be used every time you sell a house where you have lived for at least 2 years. To note here – in case, you are selling the house at loss, you won’t be able to include the loss amount in it.

                    4. Sell Your Home without Reporting:

                    Know How You Can Save Tax While Selling A House100
                    One of the secret tax tips state that you don’t have to report a sale every time! Yes, this’s true! In case, you are selling a house without making any profit, you might not require reporting for the sale. This is applicable when the sale of your house doesn’t exceed the above mentioned amounts.

                    Though the above mentioned tax tips can save you from paying a bulky amount of tax while you plan to sell house fast Houston, there are several other ways that make the process easier for you! Rather than selling the house directly or plan to sell your home on your own, you can get in touch with Realty Simplified, LLC.

                    At Realty Simplified, LLC, we buy houses in Houston within a few steps while taking care of all the paper-works and legal procedures. Give us a call to know more about how you can sell your home at the fastest speed and get spot cash offers on it!

                    Get Your Free Cash Offer


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