FAQ: How Much Money Will I Actually Get From Selling My Home?
Frequently Asked Questions Related to Blog #5
This FAQ page contains questions that readers commonly ask about this specific topic. For more detailed information, please refer to the complete blog post.
1. Do I really have to pay realtor commission when selling?
In most sales, yes. But commission is negotiable—some agents work on reduced commission for certain situations. However, realtors typically earn their commission through marketing, buyer connections, negotiation, and paperwork. Most people recover commission through faster sales and better prices. It's usually worth the cost.
2. How do I know my home's real value?
Get 2-3 comparative market analyses (CMAs) from different realtors. Look at recent comparable sales in your area. Hire a professional appraiser if you want an official valuation. Don't assume you know what your home is worth—market conditions change, and emotional value isn't the same as market value.
3. Will I owe capital gains tax when I sell?
Probably not, if you're 55+. You get a $250,000 exclusion ($500,000 if married) on gains from your principal home. Most homeowners are well below this. But work with a CPA to calculate your specific situation. If you have a large profit, you might owe some tax—but it's usually manageable.
4. What if my home needs repairs before selling?
Get an inspection done. Prioritize repairs that affect safety, structure, or require disclosure (roof, foundation, plumbing). Don't over-renovate—you won't recover the cost. Minor cosmetic issues can stay. Focus on getting the home inspection-ready, not perfect.
5. How long does the selling process typically take?
Listing to closing typically takes 30-90 days depending on market conditions, price, and condition. List time varies (days to months). Add 6 weeks for closing after offer accepted. Plan conservatively: assume 4-5 months from listing to moving day.
6. Can I use the equity from my current home to buy my new home?
Yes. You can make an offer on a new home contingent on the sale of your current home. Or you can bridge the gap with a bridge loan (expensive) or a home equity line of credit. Many people sell first, then buy, to simplify. Timing depends on your situation.
Want to Learn More?
Read the complete blog post: "How Much Money Will I Actually Get From Selling My Home?" for in-depth information, strategies, and actionable advice on this topic.
Have a question that wasn't answered here? I'd love to help you explore your specific situation and find solutions that work for you.
DeAnna Murphy | Murphy Group Realtors | eXp Realty
Specializing in Downsizing & Senior Transitions
Phone: 317-414-6890 | Email: deanna@murphygrouprealtors.com | Web: www.murphyonthemove.com
Helping Hendricks County families right-size their homes and simplify their lives.
