As a general rule, when you’re selling your home, anything that’s attached or built into the house typically stays behind. For example, if your house has built-in bookshelves, you should leave those shelves for the buyer. … Items outside of the home should also be left behind if they are in the ground.
How much money do you keep after selling a house?
The real estate commission is usually the biggest fee a seller pays — 5 percent to 6 percent of the sale price. If you sell your house for $250,000, say, you could end up paying $15,000 in commissions. The commission is split between the seller’s real estate agent and the buyer’s agent.
What documents do I need to keep after selling my house?
until you sell your home. Closing documents: Retain a copy of any document signed during your home’s closing as a backup. This may include the purchase agreement, addendums, disclosures and repair requests, escrow information, inspection reports, and a closing statement.
What should sellers leave for buyers?
This means window treatments (think: hardware, curtains, shutters and blinds), bathroom mirrors, shelving, door hardware, kitchen hardware and light fixtures. Unless you made an exception for these items in your contract, make sure to leave these home features behind for the new owners.
Can you leave things behind when you sell a house?
We understand that in some places real estate attorneys do not represent buyers or sellers in real estate transactions. In those locations, the attorney may be a closing attorney that prepares documents for the closing but does not represent either party by having a fiduciary duty to work for that specific party.
Do I pay taxes when I sell my house?
Do I have to pay taxes on the profit I made selling my home? … If you owned and lived in the place for two of the five years before the sale, then up to $250,000 of profit is tax-free. If you are married and file a joint return, the tax-free amount doubles to $500,000.
What happens after you sell your house?
When you sell your home, the buyer’s funds pay your mortgage lender and cover transaction costs. The remaining amount becomes your profit. That money can be used for anything, but many buyers use it as a down payment for their new home. … Your loan is repaid to your mortgage lender.
What are closing documents?
A Closing Disclosure outlines all the terms of your loan, so you know exactly what you’re getting when you sign your mortgage. … Buyers should take the time to thoroughly review these documents to understand the details of the loan terms, conditions, payments and funds required to close.
Do I need to keep closing documents?
When you close on your loans, you should have received a closing statement outlining all of the closing costs associated with the deal. You’ll want to keep these closing statements handy. By keeping them, you can keep track of what you paid to close each loan.
Does the seller have to be present at closing?
The seller does not have to be present at the buyers’ closing. It is a common misconception that all the parties must sit around the table together at closing and exchange documents and keys. … Usually, a seller’s closing package consists of only a few documents, while the buyers’ package may be much more substantial.
Do sellers have to clean the house?
Typically a courtesy, not an obligation, it is generally just a customary case of goodwill that the majority of sellers will want to provide the same level of cleanliness for the buyers of their property as they would like a newly purchased home to have when they moved in.
What does broom clean mean?
Broom clean is a real-estate term used to describe the condition in which a seller or a renter must leave a home. Although the term is open to interpretation, broom-clean homes are at a minimum free of any excess stuff, like personal items and debris, and have been swept or vacuumed.
Does refrigerator stay with House?
However, built-in appliances are considered fixtures that are automatically included in the home sale unless they are specifically excluded. … However, a free-standing refrigerator remains personal property, while a refrigerator that is built-in is a fixture.
Do I own the house after closing?
After you finish signing at the closing of your new house, you’re handed the keys and the house is officially yours. … Hopefully, your real estate agent can help you with a list of to do’s after your closing for that particular area.
Should you leave something for the new owners of your house?
While not necessary or expected, if you’ve got an emotional attachment to your home, you may want to leave its new owners with a letter and a housewarming gift. Let them know what a special place it is and wish them well. … It’s a kind gesture and can help you say goodbye to the place you’ve called home.