The papers have all been signed, the keys turned over to the new owner and your proceeds are available – the closing is over! Here are a few reminders for you after you sell your home

Keep Your Paperwork!

As with any business transaction, and especially so in the case of a home, it's important to keep all the paperwork.  It may be needed for tax purposes or should any questions arise after the closing.

Speaking of Taxes

April 15th inevitably arrives much sooner than most taxpayers like.  So remember that documentation will simplify your accounting of expenses and the proceeds of sale. Also, keep in mind that you may be able to add the cost of improvements to your home completed during your ownership to the benefit of your tax position when you sell.  So retain documents, paperwork and receipts for that purpose to provide to your accounting/tax professional or in the event that you're audited.

Change of Address

Did you know it's actually recommended that you complete a change of address form at least 30 days before you move?  It's not always feasible, but it's something to think about when the time comes. Visit your local U.S. Postal Service location for free forms – and don’t forget to notify all your creditors, banks, etc.

Enjoy

Now that you’ve finally sold your home, regardless of the reason, move on with whatever adventures you have on the horizon -- whether that is a new location, new home, new job or new phase or life!

If you are thinking of selling your North Shore, North or Northwest Chicago Suburban home or buying a new one, don’t hesitate to contact me today for a free consultation.  I will be happy to answer any questions you may have, help you to find a new home or determine the value of your existing property.

 

Allyson Hoffman, ABR, ACRE, CDPE, CRS, e-PRO, GRI, SFR, SRES
RE/MAX Villager
Serving Chicago's North Shore, North and Northwest Suburbs
847-310-5300
allyson@allyson.com

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Allyson Hoffman is your ultimate real estate resource for Chicago's North Shore, North and Northwest Suburbs and surrounding areas. Visit my website for detailed information regarding today’s real estate markets.

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