You are not required to hire a licensed real estate agent in Idaho, however it is highly recommended. Many sellers believe they'll save on profits by not hiring an agent, but in our experience, a seller who does not use an agent ends up making some costly mistakes.
Selling a home can take up a lot of your personal time if you try and do it on your own. At Grove Realty we make the process as seamless and stress free as possible. Our agents have experience in pricing properly, marketing, preparing for open houses, drafting documents, negotiating on your behalf, and more, giving you the maximum profit on your sale.
While you may not want to put a ton of money in the house you're about to sell, you should invest a little. Fixing leaks, broken or cracked windows, crumbling drywall, burnt out light bulbs, and any dangerous areas are a must. Any small items that you haven't gotten around to, such as a chipped floor boards should also be repaired.
You should also consider making some investments in curb appeal. Add some planters, trim trees and bushes, make sure your lawn is mowed and clean. These small things help your house stand out during the sales process.
Due to the Taxpayer Relief Act of 1997, many home sellers no longer owe taxes on the profits made when they sell their houses.
Married taxpayers who file jointly get to keep, tax-free, up to $500,000 in gain on the sale of their home, as long as they lived in it for two of the prior five years.
Single folks and married taxpayers who file separately get to keep up to $250,000.
If your profits on the sale of your house exceed this amount not all of it may be taxable gain, for example if you invested in home improvements. Talk to one of our licensed agents for CPA recommendations if you have questions or concerns about taxes on your profits.
As a general rule, you’ll need to leave behind all “fixtures,” defined in most states as things that are affixed, fastened to, or an integral part of the home or landscaping. Examples of this include, light fixtures, built-in dishwashers and other appliances, window blinds/shades, built-in bookshelves, trees, plants, and shrubs with their roots in the ground instead of in pots are all normally considered fixtures. Even though not "fixed" to any portion of the house or lawn, fountains or statues may need to be left with the house. The buyer may place these types of items in their offer to make sure you leave them behind or to start negotiations over them.