So we are selling our first home. What I'm wondering from those folks much smarter than me, is what I should be prepared for and what are some things you wish you knew before you sold a house. Tips and pointers are very helpful!
Here are some of the details:
- Owned home for over 5 years
- Cost was 445k
- Paid 45k down (10%)
- Mortgage was 400000
- Location is in Southern California (near Long Beach airport)
- Done on VA loan, 3.25%
- Thought of selling last November, and realtor wanted to list for 600k... Not sure how much its gone up since, or if it even has.
- I'm married, so any cap gains under 500k should be tax free, due to the tax relief act of '97. (Please correct if I'm wrong here..)
I suppose I have questions regarding the realtor side of things too:
- I hear the norm is ~5% of the sale price? If we took a round number of 600k, that's a 30,000 commission! That seems totally crazy to me. I want the realtor to be paid for time invested in selling, but this just seems astronomical for the "amount" of work they'd put into selling it. Maybe I'm just totally mis-informed on this and mostly need help in understanding this...
- Anyone have any experience with flat-fee realtors, or if they even exist?
- Probably more questions but I don't even know exactly what to ask...
Any other tips regarding how to maximize the profit on sale, or things you wish you knew before you sold would be oh-so invaluable.
If this is the wrong sub, I greatly apologize! Looking forward to hearing what folks have to say :)
Submitted April 01, 2018 at 02:29PM by mansfall https://ift.tt/2H2eqKZ
