Right now buyers and sellers alike are frustrated. Real estate is moving slowly due to the restrictions imposed by social distancing.
What that means is that while a few homes will be sold now, when the current health threat has passed, we should see buyers flooding into the market.
Instead of waiting until that happens, take a few steps right now to be ready as both a seller and a buyer.
Remember that your tax basis will be what you paid for the house, plus the improvements you’ve made.
Next take inventory of your house
First, gather all the documentation and information buyers will need or want:
- Utility bills
- Property tax bills
- Permits for any improvements you’ve made
- Insurance policies
- Warranties on anything that will stay with the house
- Instructions / operating manuals for anything that will stay with the house
- Contact information for services such as cable, internet, etc.
- Contact information for people who provide services you use – a housekeeper, yard person, pool cleaner, dog walker, etc.
Now, as an income tax precaution, gather receipts for any improvements you’ve made to the house.
with an eye to both selling and your future purchase.
- Write down everything you really don’t like or have wanted to change.
- Write down everything you love and would like to have in your next house.
- Gather attractive photos of the house during each season of the year.
Share the photos and the “loves” with your listing agent. Share the loves and don’t likes with your buyer’s agent when the time comes.
If you want to go forward with limited showings right now, call me. I’ll be happy to help.