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Old 08-25-2012, 04:31 AM
 
36 posts, read 73,764 times
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On 11-25, the sale of my home becomes a tax free event. The market is red, red hot right now, even as we are entering the late Summer lull. When should I list it, if I can't close (strictly tax reasons) until 11-25?
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Old 08-25-2012, 06:36 AM
 
Location: Cary, NC
39,496 posts, read 68,505,891 times
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List by mid-September and clearly specify your required closing date.

Don't accept an offer with an earlier closing date proposed.
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Old 08-25-2012, 07:54 AM
 
Location: Simmering in DFW
6,952 posts, read 21,417,517 times
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Gee, I would go ahead and list it now. Just be sure the required closing date is clearly stated and emphatically communicated that you won't close before then.
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Old 08-25-2012, 08:02 AM
 
Location: Cary, NC
39,496 posts, read 68,505,891 times
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Quote:
Originally Posted by Squirl View Post
Gee, I would go ahead and list it now. Just be sure the required closing date is clearly stated and emphatically communicated that you won't close before then.
Yea, that too. 11/25 is only 90 days out.
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Old 08-25-2012, 10:23 AM
 
Location: El Dorado Hills, CA
3,724 posts, read 9,339,217 times
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Agree with the last two posters. Spend a week or two getting it into tip top selling shape and list it now. MLS (here anyway) has a confidential agent remark section where they can say you absolutely will not close before 11/25.
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Old 08-25-2012, 10:37 AM
 
Location: Salem, OR
15,064 posts, read 37,223,546 times
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All of the above.
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Old 08-25-2012, 11:10 AM
 
Location: Pinellas Park Florida
210 posts, read 548,258 times
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Interesting...Get it inspected. Fix the things you can afford. Disclose the rest. Price accordingly. Leave the report for buyers to read. Leave the receipts to show what's been repaired. This avenue will insure you get your asking price and reduces the amount of haggling that goes on during the Real Estate Transaction.
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Old 08-25-2012, 12:26 PM
 
Location: Needham, MA
7,639 posts, read 11,928,720 times
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Quote:
Originally Posted by thession View Post
Interesting...Get it inspected. Fix the things you can afford. Disclose the rest. Price accordingly. Leave the report for buyers to read. Leave the receipts to show what's been repaired. This avenue will insure you get your asking price and reduces the amount of haggling that goes on during the Real Estate Transaction.
If the OP's market is indeed "red hot" I would advise against this. Too many people watch HGTV and think a pre-listing inspection is always a great idea. If you're going to have a line of people out the door waiting to buy your home, you have so much negotiating leverage. You're in a position to tell the buyer "you want his house? Then you can fix that when you own it. If not, I'm going to one of my back up offers." Plus, every inspector finds different defects. You can do a pre-listing inspection but the buyers will still likely have their own inspector come in and they'll likely find other defects and they may have also missed defects that your inspector found. Keep the defect list and your costs as low as possible by just leaving the inspection to the buyers.

I've never ever had a client do a pre-listing inspection. It doesn't make sense in hot market.
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Old 08-25-2012, 01:36 PM
 
36 posts, read 73,764 times
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Quote:
Originally Posted by MikePRU View Post
If the OP's market is indeed "red hot" I would advise against this. Too many people watch HGTV and think a pre-listing inspection is always a great idea. If you're going to have a line of people out the door waiting to buy your home, you have so much negotiating leverage. You're in a position to tell the buyer "you want his house? Then you can fix that when you own it. If not, I'm going to one of my back up offers." Plus, every inspector finds different defects. You can do a pre-listing inspection but the buyers will still likely have their own inspector come in and they'll likely find other defects and they may have also missed defects that your inspector found. Keep the defect list and your costs as low as possible by just leaving the inspection to the buyers.

I've never ever had a client do a pre-listing inspection. It doesn't make sense in hot market.
I tend to agree with this, and also, from my buying experience, it seems like 3 months is a long, long time to have money sit in escrow. I wouldn't ask for more than about 3000 in EMD, and there would be many that might be more than willing to forfeit, and at that point the listing might seem a bit stale.

I do appreciate the comments. And let me add, that there would be a 50/50 chance that the buyers are only listed in the lot, as it is a very small house on a perfect Mid-town location. It's a 67 yo cottage, that I have lived in for the last two years.
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Old 08-25-2012, 03:49 PM
 
Location: New Jersey
10,415 posts, read 14,630,540 times
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Quote:
Originally Posted by saversrevenge View Post
On 11-25, the sale of my home becomes a tax free event. The market is red, red hot right now, even as we are entering the late Summer lull. When should I list it, if I can't close (strictly tax reasons) until 11-25?
Red red hot...what decade are you living in?
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