In most states, you must disclose any known defects of the house to potential buyers.
For single taxpayers, how much profit from a home sale is tax-free if you've lived in the home at least two years before selling?
none
100,000
200,000
250,000
Which home repairs produce the greatest return at sale?
Update bathroom
update kitchen
clean and declutter
paint exterior
If you sell your residence and lose money, you cannot write off those losses on your taxes.
When potential buyers and their agents come to see your house, it's best for you to:
stay
leave
Once you commit to a real estate agent, you have to keep him or her until you sell.
Your father bought his home in 1950 for $15,000. When he died, he left you the house, which is now worth $315,000. Do you have to pay taxes on the $300,000?
Who typically pays a real estate agent's commission?
buyer's ageny
buyer
seller's agent
seller
If you already own a home and are looking to move up, where can you get the money to cover a down payment and closing costs until your previous home sells?
You can borrow it from a home-equity line of credit secured by your current home.
you can borrow the money from your IRA.
you can borrow the money from your 401k.
all of the above.
Setting a fair price and refusing to bargain is the best pricing strategy.
