Preparing to Move, Part 10
Once you've sold your Olathe home, you can proceed with your move and tie up loose ends.
Create a file in which to keep all closing and settlement papers: include receipts for any home improvements you made while you owned the house. Even though it's unlikely you will have to pay capital gains tax, you will need these figures for your next tax return.
If you are planning to buy another home, decide how much you need for a down payment and moving costs. If you made a profit on your home sale, it may be wise to make a minimal down payment on your next home, and invest the rest. This will depend on your tax situation and how the numbers evolve. Consult your financial advisor. If you aren't buying another home right away, you may want to opt for a combination of long-term and short-term savings and investment plans.
Make sure that your sales proceeds are in the right place when you issue checks at closing. Do a walk-through of the property right before closing to avoid last-minute surprises.
Avoid getting caught by late payment fees: Before you move, send change-of-address notices to creditors, professional associations, and publications to which you subscribe.
If you are closing your sale and purchasing a second home simultaneously, it's important to make sure your utilities are switched off at your previous address and switched on at your new address around the closing date. Typically an overlap is suggested to prevent utilities from accidentally getting turned off at your old home.
To view the complete report, go to: STEPS TO EXPECT WHEN SELLING YOUR Olathe, KS. HOME
Blog post written by: Dowell Taggart Team of RE/MAX Best Associates.
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