After your house is sold gay realtor San Antonio advises you that you still have work to do. First of all you need to make copies of every single document that relates to the closing of your real-estate deal. Keep these papers very safe in a safety deposit box or even at a bank ~ if you’re fortunate your agent may provide you a copy on a zip drive.
If you are the buyer make sure that you put the deed to the property in a safe place. If you are the seller y our need to be diligent because anything can happen in life. You will need these documents to do your taxes and sometimes you also need proof that you sold a home to cancel certain services like electricity or water, and to show the mortgage “paid in full” on your credit report. You may also need it show that you do not owe bills that are incurred by the home’s new owner or to prove that you are not the deserving recipient of a tax or maintenance bill of some kind.
If you hired a stager, rented staging furniture, or did any kind of renovating or repairs… save the receipts for these services, they also be tax write-offs. In fact gay realtor San Antonio would like you to know that even innocuous items like For Sale signs can be a write-off if you bought them yourself and they were not provided by a real estate agent. The same goes for developing marketing materials the Xeroxing of flyers or the purchase of a lockbox for storing house keys. You should keep all of the receipts in case something goes wrong with the home down the way and you have to go back to the original contractor to get something fixed.
After selling a home it is probably not a good idea to blow all the cash! Gay realtor San Antonio advises consulting a wealth building consultant to see what is the best thing to do with this money. Many opt to put it in a high return money market fund of some kind before they invest again. This is a move that also looks quite nice on your credit report. In fact you can use wealth garnered from this type of move to ask for higher limits on your credit cards ~ or better yet, pay off and close all those cards.
Another good use of money from the sale is using it for the deposit for your next home. Think of putting at least twenty percent down on the next property you purchase so you can get the best interest rate possible. This is a wealth-building move that will really pay off over the long term.
If you are buying a new home consider choosing a GayRealEstate.com agent to find the home that best suits you.
Gay realtor San Antonio would also like you to note that you may have to repurchase a replacement property to avoid paying taxes on any profit on your old home ~ check with your CPA or accountant on this.