Selling your House? Here are some resources that may be helpful.
If you are a foreigner selling investment property, you need to know about FIRPTA. These are the tax withholdings you need to make if you do not live in the property and do not have U.S. citizenship or residency. If this MAY apply to you, I would suggest you consult an accountant (CPA) before putting the property on the market.
What you really want to know is how much money you will walk away with. Sadly, that's a bit unpredictable until a couple days before closing. However, to get an estimate, you can use this Seller's Net Estimator.
A few tips:
- Expect the unexpected. Sadly, until you get your check into your hands, it is still possible for things to go wrong.
- Many closings are delayed. Frequently, this is because the bank has waited until the last minute to get the paperwork done.
- If the closing is scheduled in the afternoon, the bank may not have enough time to fund a loan before the end of business. If you can, get the documents done early in the morning. Scheduling a closing for a Friday tends to result in no check until Monday.
- Wait to terminate utilities and insurance until the closing occurs. You do not want to be left uncovered if there's a delay.
- Provide documents quickly, even if the closing is still weeks away. Sometimes, after reviewing one document, the title company will find they need other materials.
- Inform your agent if you have any special legal situations - illness, death of the owner, divorce, etc.