Timing-Access-Financial Implications of Home Sale.

1.                  Discuss timing, access and financial implications of home sale.

a.       Timing

                                                               i.      Determine the right time to put the house on the market.

                                                             ii.      Discuss pro’s and con’s of market timing.

                                                            iii.      Set a target Date.

                                                           iv.      Signed Listings with date to enter MRIS.

b.      Access

                                                               i.      Discuss how the house will be shown.

1.       By Appointment.

a.       Greater control, but less showings.

b.      “Gives exclusivity feel”

c.       Appeals to sellers who want it.

d.      Meet the buyers.

e.       Telegraphs motivation.

f.        May increase days of the market.

2.      Lockbox access.

a.       Increases showings by other agents.

b.      Electronic leash.

c.       More honest feedback.

d.      Creates more business like negotiation.

e.       It is more inconvenient to the owners.

f.        Timed Access

c.       Financial Implications of Sale

                                                               i.      Establishing net proceeds of sale to owners.

1.      Discussing Potential Sales Prices in the current market.

a.       How to balance expectations and reality.

2.      Having all the loan information.

a.       Prepayment penalties.

b.      First, seconds, and helocs.

                                                             ii.      Understanding capital gains implications.

1.      $250,000 and $500,000

2.      Explaining the basis of a house.

3.      Investment vs. Principal.

4.      Two year rule.

                                                            iii.      Informing sellers of non resident tax issues.

                                                           iv.      Creating plan for sale of house and future purchase.

1.      Two house vs. no house scenarios.

2.      Credit options.

3.      New guidelines for this scenario.

a.       Must qualify for both loans.

b.      What is best for the client.