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Home Buying For Dummies, 4th Edition by Eric Tyson MBA, Ray Brown

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Chapter 17

Ten Things to Consider When Selling Your House

In This Chapter

Deciding whether to sell

Pricing your house right

Choosing an agent

Planning for after the sale

Once you own a home, the odds are extraordinarily high that someday you’ll sell it. People who live their entire lives in their first home are rare. (Eric’s maternal grandparents accomplished this extraordinary feat — living more than six decades in the same home!)

Selling a house is generally somewhat less complicated than buying one. But just because selling a house may be easier than buying one doesn’t mean that most people sell their houses properly.

If word gets out that you’re considering selling your house, real estate agents will be attracted to you like hungry mosquitoes are to the one person on a desert island. And when you sell a house, the IRS and state tax authorities may be waiting with open wallets to attempt to take a chunk of your profits, especially if you don’t take the time to understand tax laws and how to make them work for you before you sell. So in this chapter, we advise you about some important issues that you should weigh and ponder before you sell. And if you do decide to sell, we want you to do the best possible job of selling your house and avoiding the tax man (legally). In addition to reading this chapter, when it comes time to sell, check out our companion book: House Selling For Dummies.

Why Are You Selling?

Start with the basics. If you’re contemplating selling, consider whether ...

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