Real Estate Settlements in Washington, DC and Maryland; A Stress-Free
Settlement
Services For Real Estate Sellers
Selling
your home can be a frustrating event if you are not familiar with the
process and especially stressful if not adequately represented
throughout the process.
Preparing your Home for
Sale -
Virtually all real estate professionals
agree that a clean, well-kept modern property will show and sell
better than a neglected property. That is not to say that if
your home is an older home you should spend large sums of money to
modernize. Studies have shown that a few simple, relatively
inexpensive tips will cause your property to show better and sell
quicker. Often a higher selling price will recover those costs.
Such simple steps include: a fresh coat of paint inside and out; new
or professionally cleaned carpets; removing extra furniture and
clutter; a thorough and professional cleaning; minor repairs
to make sure toilets flush properly, windows and doors open and
close easily, and minor landscaping and lawn care. Sellers
should keep careful records of all amounts spent in fixing up a home
for sale since those costs may have beneficial tax consequences.
Stress-Free Settlements can work with your tax advisor to maximize
the after-tax proceeds of the sale of your home.
Going "FSBO"
or Selecting a Real Estate Professional
- Going
FSBO (For Sale By Owner) is a challenge for most homeowners.
Historically the vast number of homeowners who initially attempt to
sell their home without professional help eventually give up and
enlist the services of a real estate professional. Not all real
estate professional are alike. Only those real estate
professionals who are member of the National Association of Realtors®
are Realtors®. Realtors must pass certain licensing and
continuing education (as do non-Realtors) and subscribe
to a rigorous code of ethics. Realtors are knowledgeable in all
facets of the real estate buying process and are required to treat
all parties to the transaction fairly. Traditionally
Realtors have been the seller's agent and had a fiduciary duty to
the Seller. Today however, there are Seller's agents, buyer's
agents and dual agents, each with different fiduciary duties.
All Realtor's are now required to advise Buyers and Sellers in
writing the nature of their agency relationship. Stress-Free
Settlements can provide independent counsel to explain the various
relationships among all parties to a real estate transaction.
Review Listing
Agreement - We can assist
sellers locate reputable and successful Realtors and review the
listing agreement before it is signed.
Review Purchase
Offers - Once you or your
Realtor has been successful in obtaining a purchase offer, we can
review the offer and advise you of the implications of certain
contingencies, financing terms, deadlines, and similar clauses
benefiting the purchaser. Important Note!
Unlike many other jurisdictions, in the DC Area purchase offers are
typically made on the Association of Realtors standard form and once
accepted by a Seller constitute a binding contract! Please
consult legal counsel before accepting written offers.
Review Closing
Documents and Attend closing for you -
Although the buyer has the legal right to select the settlement
attorney, the seller can suggest that Stress-Free Settlements act as
Settlement Attorney for all parties. We are often called upon
to review the closing documents prepared by buyer's settlement
agent. For those Seller who do not wish to attend the closing
we can prepare Powers of Attorney and serve as your representative
at the actual closing. Thus relieving you of the necessity for
actually appearing.
Advise on Tax
Savings Strategies -
Stress-Free Settlements will work with your tax advisor to discuss
various tax savings strategies such as Starker Exchanges (1031
exchanges) available only for investment property. We can also
advise on the Federal legislation relating to homesellers such as
the $500,000 ($250,000 for singles) gain exclusion for federal tax
purposes.
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