1. Check the conditions of repayment of your mortgage. Before putting your home for sale check the terms of the mortgage has contracted. In particular should seek cancellation fees or early repayment of mortgage. Assess also the possibility of subrogation of the mortgage of your home. The goal is to have an idea of the total costs resulting from your mortgage as a result of the sale of the house. 2. Determining the value of housing.
It is a key issue when selling the house to determine the value of the house on the market. A direct way is that a real estate agency will determine its selling price. There are other possibilities: to refer to recent sales prices of similar homes in the same area, a property appraisal by specialist companies (your bank can provide one), available at property prices of similar homes offered for sale in the area … 3. Estimating the costs of sale.
Selling a home at a certain price does not mean that paid that amount. For this reason, it must be clear about the costs to generate the sale. Here are some costs that must be quantified in detail: o The costs and expenses of cancellation or subrogation of mortgage (already mentioned in point 1). o The commission for selling the real estate agency (if he finally agrees to use its services). or tax-subject to various assumptions, for example if you reinvest or not the amount of the sale in another property. Especially relevant is the capital gains tax that can reach a considerable amount if the difference between the price at which you bought and sell it (surplus) is important.