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Selling Your House For Dummies

Book Description

Sell your house in any market

Whether you're selling your home yourself or using a realtor, this helpful guide offers all the information you need to make an otherwise-stressful undertaking go smoothly. In Selling Your House For Dummies, you'll find plain-English, easy-to-follow information on the latest mortgage application and approval processes, the hottest websites used in the house-selling process, and revised tax laws that affect the housing and real estate markets.

From the author team behind America's #1 bestselling real estate book, Home Buying Kit For Dummies, this book offers Eric Tyson and Ray Brown's time-tested advice, recommendations, and strategies for selling your house given current market conditions. From staging your home to utilizing technology to sell your house directly to home buyers, this trusted resource is packed with tips and ideas to make your home the most appealing house on the block.

  • Prepare your property for the best offer
  • Stage and market your house successfully
  • Negotiate and successfully close the sale
  • Make sense of contracts and forms used in the house-selling process

Get the tried-and-true advice that will help you sell your property!

Table of Contents

  1. Cover
  2. Introduction
    1. How This Book Is Different: The Eric Tyson/Ray Brown Difference
    2. Foolish Assumptions
    3. Icons Used in This Book
    4. Beyond the Book
    5. Where to Go from Here
  3. Part 1: Getting Started with Selling Your House
    1. Chapter 1: Deciding to Sell
      1. Figuring Out If You Really Need to Sell
      2. Knowing the Health of Your Housing Market
    2. Chapter 2: Selling and Your Personal Finances
      1. Trading Up
      2. Making Retirement Housing Decisions
      3. Tax Facts Sellers and Landlords Ought to Know
    3. Chapter 3: Exploring the Economics of Selling
      1. Estimating Proceeds of Sale
      2. Assessing the Financial Feasibility of a Move
    4. Chapter 4: Confronting Financing Issues
      1. Financing Decisions When Trading Up
      2. The Trials and Tribulations of Seller Financing
  4. Part 2: Tactical Considerations
    1. Chapter 5: Timing Is Everything
      1. Timing the Sale of Your House
      2. The Seller’s Quandary: Timing the Purchase of Your Home
      3. Consolidating Your Sale and Purchase
    2. Chapter 6: For Sale By Owner
      1. Eyeing the Potential FSBO Advantages
      2. Focusing on Potential FSBO Disadvantages
      3. Increasing Your Chances of Success
    3. Chapter 7: Your Real Estate Team
      1. Teaming Up — A Winning Concept
      2. Landing the Perfect Listing Agent
      3. Bringing in the Broker
      4. Handling House Inspectors
      5. The Officiating Escrow Officer
      6. Finding Financial and Tax Advisors
      7. Locating a Good Lawyer
    4. Chapter 8: Listing Contracts and Commissions
      1. Understanding Listing Contracts
      2. Considering the Types of Listings
      3. Examining Broker Compensation
      4. Preparing Seller Disclosure Statements
  5. Part 3: Getting Top Dollar When You Sell
    1. Chapter 9: Preparing Your House for Sale
      1. Handling Presale Preparation
      2. Think Again: Avoiding Major Improvements
    2. Chapter 10: Determining Your House’s Value
      1. Defining Cost, Price, and Value
      2. Determining Fair Market Value (FMV)
      3. Using a Comparable Market Analysis
      4. Bidding Wars
    3. Chapter 11: Price It Right and Buyers Will Come
      1. Getting a Grasp on Pricing Methods
      2. Identifying Incentives and Gimmicks
      3. Overpricing Your House
  6. Part 4: The Brass Tacks of Selling Your House
    1. Chapter 12: Marketing Your House
      1. Advertising That Works
      2. Arranging Open Houses
      3. Showing Your Property
    2. Chapter 13: Using Technology to Sell Your House
      1. Knowing the Internet’s Limitations: The Net Alone Can’t Sell Your House
      2. Relying on Technology to Determine Whether to Sell
    3. Chapter 14: Negotiating Strategies for Sellers
      1. Mastering Your Feelings
      2. Following Some Basic Rules
      3. Surviving the Bargaining Process
      4. Negotiating from a Position of Strength
      5. Negotiating from a Position of Weakness
      6. Distinguishing Real Buyers from Fakes
    4. Chapter 15: It Ain’t Over ’til the Check Clears
      1. Entering the Neutral Territory of an Escrow
      2. Letting Go of Your House
      3. Surviving Seller’s Remorse or (Gasp) the Dreaded Double Whammy
    5. Chapter 16: Income Tax Filings after the Sale
      1. Profits from a House Sale
      2. Tax Filings Required after the Sale
  7. Part 5: The Part of Tens
    1. Chapter 17: Ten Things to Do After You Sell
      1. Keep Copies of the Closing and Settlement Papers
      2. Keep Proof of Improvements and Prior Purchases
      3. Stash Your Cash in a Good Money Market Fund
      4. Double-Check the Tax Rules for Excluding Tax on House Sale Profits
      5. Cast a Broad Net When You Consider Your Next Home
      6. Remember That Renting Can Be a Fine Strategy
      7. Reevaluate Your Personal Finances When Things Change
      8. Don’t Simply Rehire Your Listing Agent When You Repurchase
      9. Think Through Your Next Down Payment
      10. Remember to Send Change of Address Notices
    2. Chapter 18: Ten Tips for Selling Rental Real Estate
      1. Don’t Inadvertently Convert Your House into Income Property
      2. Exercise Extra Care When You Sell Rental Property
      3. Know How to Defer Your Investment Property Profits
      4. Understand Your Local Market to Time Your Sale
      5. Understand Opportunities for Adding Value
      6. Maximize Your Property’s Rental Income
      7. Minimize Your Property’s Expenses
      8. Utilize Agents with Investment Property Experience
      9. Visit Comparables and Review the Valuation Analysis
      10. Work with Tax and Legal Advisors Who Understand Rental Property
    3. Chapter 19: Answers for Ten Questions Home Buyers May Ask
      1. What Do You Like Best and Least about Living Here?
      2. Why Are You Selling This Lovely House?
      3. How Much Did You Pay for This House?
      4. How Did You Establish the Asking Price?
      5. Have You Received Inspection Reports?
      6. May I See Your Written Defect Disclosure Statement?
      7. Are There Any Neighborhood Changes That May Affect the Home’s Desirability?
      8. How Many Times in the Last Year Have You Called the Police and Why?
      9. What Problems Have You Had with the House?
      10. What Are the Local Public Schools Like?
  8. Part 6: Appendixes
    1. Appendix A: Sample Real Estate Purchase Contract
    2. Appendix B: Example of a Good Inspection Report
    3. Appendix C: Glossary
  9. About the Authors
  10. Connect with Dummies
  11. Index
  12. End User License Agreement