For Sellers with Properties in Cary, NC Areas
Decide to Sell
When deciding to sell your Cary home, it helps to know whether you're in a seller's market with low inventory and rising prices, a buyer's market with lots of houses for sale or when the market is balanced or neutral. It's also important to understand what kind of homes sell best in your Cary neighborhood.
If you're not under pressure to sell, test your decision by considering the following factors:
- Financial impact - It costs thousands of dollars to sell a property and relocate—often as much as 15 percent of the sales price of your home by the time you count the real estate commission, closing fees, and moving costs. The less equity you have in the house, the greater the financial hit. It pays to run the numbers before you sell.
- Timing - Consider the timing of your sale relative to the market and to your home equity. A slow market may negatively affect your sale. And if your equity is low, you could end up bringing cash to the closing to pay off your lender. The more equity you have in your home, the better equipped you are to cover your sales costs.
- Tax consequences - Though capital gains tax laws have relaxed to the point where most Americans don't have to pay tax on real estate profits, you will likely have to pay if you've lived in your home only a short time. Make sure you know where you stand.
- Alternatives to selling - If you're selling to move away from a troublesome neighbor, or because you desire to have more elbow room, do a reality check. Remember, every neighborhood may have a less than desirable neighbor. Maybe the alternative to moving is a tall fence that could shield you from the neighbor (check the covenants first!). And remodeling your current home could give you the extra space you want.