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Allyson Hoffman, REALTORŪ, real estate agent and broker for Chicago North and Chicago Northwest Suburbs home listings, property and land for sale in Northern Illinois NUMBER1EXPERT(tm)
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Thinking About Selling Your Home Yourself?: Chicago North, Northwest Suburbs and Northern Illinois home buying, real estate listings, and homes for sale in Cook                           County, IL
Welcome > For Sellers > Thinking About Selling Your Home Yourself? ...


There's More to Selling Your Home than a "For Sale" Sign In Your Front Yard: Beware.
 

Even if a simple sign in your yard did produce a buyer knocking on your door, how will you handle the following questions: 

"How does your home compare to others like it in Chicago North, Northwest Suburbs and Northern Illinois?" 

"How did you determine the fair market value of this property?" 

"What about financing? Can you help?" 

"If I make an offer, who will draw up the paperwork?" 

"Why aren't you using a Realtor? Is there something wrong with the property?" 

"Since you aren't using a Realtor, we can take their fee right off the top, right?" 

Selling your home is one of the most important financial transactions you will make in your life. Don't take risks. Selling your home is nothing like selling a car. Every home is different, and every homebuyer wants to offer you as little as possible. How do you determine the real market value? 

Almost all homes are sold using a Realtor. As a top real estate professional, it is my job to help you negotiate with all those buyers who want something for nothing. Not to mention preparing your home for sale, marketing it locally in Chicago North, Northwest Suburbs and Northern Illinois and even nationally, and guiding you through the complex paperwork and pitfalls of escrow and closing. Make sure you are really ready to handle all of that before pounding that sign into your front yard. Errors can be extremely costly. 

Remember: Buyers want to offer you as close to nothing as possible! While that "For Sale By Owner" sign might sound like a good idea, it usually means a different thing to buyers: "Try to steal this one." 

If you must sell your own home, at least let me give you a sense of its true market value. Tell me a bit about your home, and I'll do a quick Comparative Market Analysis and let you know what I feel it is worth. 

I'll also describe, as an experienced, top Chicago North, Northwest Suburbs and Northern Illinois Realtor, how I would market your property. This is free, with no strings attached. Simply fill out the form and I will quickly get back to you...
 

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Real Estate Tips
Tax Considerations >Taxable Profits

If you are thinking of selling your home and your house has risen in value since you purchased it, or you have accumulated a lot of deferred profit from previous sales, the Taxpayer Relief Act passed in 1997 could be of tremendous value.

Prior to this law, when a homeowner moved to a smaller home, relocated to a less costly area, or made a decision to rent, they were left with unfavorable tax consequences. The old tax law allowed people who sold their homes to defer tax on any profit by buying a replacement home of at least equal value within two years. At age 55, they could permanently escape tax on up to $125,000 of profit, but any profit in excess of that amount was taxable unless a new home was bought.

The good news is that with homes sold after May 6, 1997, homeowners can make as much as $500,000 tax-free profits on the sale of a principal residence for joint filers or $250,000 for single filers. The $500,000 capital gains exclusion removed taxes as a consideration for most home sellers by giving them flexibility to trade up or down. It has also allowed homeowners to preserve the savings value of a home when they sell, provided they use the property as their principal residence for two of the prior five years prior to the sale.

Consult your tax advisor for your particular circumstance.

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Real Estate Trivia
Q 
What is a "jumbo mortgage"?

A 
The term "jumbo mortgage" currently refers to a mortgage loan in excess of $359,650, although the threshold amount may change as the market fluctuates.
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Allyson Hoffman, REALTORŪ, real estate agent and broker for Chicago North, Northwest Suburbs and Northern Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

Allyson Hoffman
RE/MAX North Chicago Suburbs Real Estate

1240 Meadow Road
Northbrook, IL. 60062
Toll Free: 800-882-8409 x 999
Direct: 847-849-8016
Fax: 847-400-0881
Email: Allyson@AllysonHoffman.com

Allyson "Excellence in Action" Hoffman is a consistent TOP PRODUCER committed to constant improvement, serving clients with integrity and making a difference in the Real Estate Industry. Her work ethic involves maintaining clients for life. RE/MAX International Hall of Fame. Contact Allyson for excellence! Specializing in Chicago North Suburbs and Chicago Northwest Suburbs in Northern Illinois. Allyson Hoffman is licensed in the State of Illinois.

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