[This is the Special Report 28 in Adobe Acrobat (PDF) format. Our
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we moved into the Riverbottoms house we sold our old home. A Realtor®
told us our price was much too high, but that he would sell it for a
lower one and take his commission. Here's how we sold it at our
original price and kept the commission. Six pages, revised and updated with new
reader tips, web links and comments.
- Sell higher than a Realtor®
- Enhancements for quick sale
- Home inspections
- Telephone sales script
- Realtor® commissions
- Capital gains tax law
- Paperwork for owner-seller
- How stated house size is determined
Excerpt from Report:
going to tell you the story of one of the most profitable transactions
of our lives. It was a case of what stock market mavens call 'buy low,
We bought our condominium in south Provo, Utah in
1993 for $63,500. We learned that other condos in the Peachtree complex
where we bought had sold for about $5,000 more, but we encountered a
motivated seller. We arrived late in the year, after most relocating
families with school children had already settled. There were few
prospective buyers in the market. In addition, the selling couple was
finishing a new home elsewhere and needed to sell.
after we bought, a boom occurred in our county where condos rapidly
appreciated in value. Then, after three years, the market cooled down.
That was when we got serious about building the Riverbottoms House, and
decided to sell our condo. We placed ads in the paper for both rental
and sale. We got more than 100 rental inquiries, and only 5 sale
inquiries, mostly from realtors who wanted to list the property.
the Riverbottoms House neared completion, we had no solid offers on the
house, only a semiserious proposal to sell for $85,000. We felt that
was not enough, and rented the condo to a family.
Now that the
condo had been turned into rental property, we assumed we would lose
our capital gains tax exclusion upon sale of the house. We were
disappointed, because that meant we would lose $5,000 - $10,000 in
capital gains taxes when we finally sold.
New Tax Law
in 1997 a new tax law was signed that said that if you have lived in a
place for any two out of the last five years, you can sell it without
paying capital gains taxes. We were now living in our new house, and
realized that the window of time would close if we did not sell the
condo in a year or so..."
Sample Reader Tip Excerpts:
bought our house for $70,000 and sold it for $230,000. The Realtors
told me I could sell it for $185,000. So I kept the commission for
selling it myself, and got the better price to boot. We decorated it
nice, had a waterfall in the backyard, and got good money for. It took
us longer, but we made a total of $45,000 extra."
Eric & Jille E.
sold $400,000 of real estate last year without a Realtor®. I got more
than what the Realtors were gonna try to sell it for because it was my
house. I was in an economically depressed market, and they laughed at
me and I sold it for $25,000 higher than they said, because the lady
loved my kitchen and it was a really well done house."
Ted & Regi M.