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Things to keep in mind after selling a home

Things to keep in mind after selling a home

Things to keep in mind after selling a home

The present slow-moving real estate market has posed the maximum competition for the sellers. Everyone who is in a need to sell his/her home is in a race to attract buyers, follow the various advices given by experts and do their best to extract the best deal. After listing the home, following the best approach to sell the home fast, and handing over the keys to the new owner, the seller takes a sigh of relief. However, there are a few minor steps still left in the selling process. Even after selling the home, the ex-homeowner should take a few steps to invest the money safely and ultimately save money.

Once you sell the house, you should safely keep all the paperwork related to selling and handing over of the property. The paperwork will help in any issue that you might have in the future regarding the previous dues of the property. The paperwork also helps in filing of the taxes and for producing the documents in case the authorities demand them. Apart from the sale documents, one should also keep proof of all the prior purchases, property tax receipts and any major installments done in the house.

After collecting the money from the sale of the house, choose your next home very safely. One should not be pressured and should take ample amount of time while deciding the next purchase. As buying and selling require different skills, a change in the agent can also be considered. Hiring the right agent is very essential for making the right purchase. Therefore, make sure that the agent who is hired for your next purchase is well versed with the area you want to make the purchase in.

One last calculation that one should make is regarding the down payment. It is recommended that 20% should be kept for down payment of the next house. In case the purchase of the house is on the basis of full and final payment, one should consider the future income and financial stability.

Last Updated: Mon May 13 2013

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