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Selling Your Home >When to Take a Walk
Your agent calls to say he is bringing prospective buyers to see your home at 2:00 p.m. You quickly straighten up the house and run the dishwasher. What should you do then? If you have to let them into the house--then take a drive or walk the dog!
Many owners think they should linger close by while their home is being shown. They are afraid that the real estate agent might miss the storage shelves in the basement or forget to point out the beautiful new floor in the kitchen. It is better for the agent to miss something than for you to be ushering the buyers around, so resist the temptation to stay while your house is being shown.
Buyers usually base their decision to buy on an attraction that often has more to do with emotions than pure logic, and a lot goes on between buyer and agent during a showing. The buyer needs to evaluate the home's pluses and minuses, and the agent needs the opportunity to work with the buyer's objections. This process cannot take place comfortably if the seller is on the scene.
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| Q |
What is the maximum interest you can deduct on your federal tax return to purchase or improve a first or second home?
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| A |
One of the greatest benefits of home ownership is the federal tax deduction for interest up to, but not exceeding, $1million. |
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