INCREASE YOUR HOMES APPEAL

EXTERIOR

Look at your property from the buyers’ vantage point as they approach in their vehicle. If the mailbox is the first thing they see, it should be free of dents, clean, and fresh in appearance. Are trees or shrubs along the drive properly trimmed back? Is the lawn mowed, hedge trimmed, garden pruned? If you are selling your home in the fall, try to keep the leaves raked and the lawn cleared of other debris.

Next, that all-important first critical look at the house itself. Put yourself in the buyers’ shoes. Stand in the driveway and imagine you are seeing your home for the first time. Make certain the walkway to the front door is swept, that there are no children’s toys scattered about.

See that the roof and gutters are clean, windows washed, doorknobs gleaming and welcome mat in place. If you discover any obvious signs of disrepair — blistered or peeling paint, rusted drain spouts, or missing shingles — you should have them fixed before showing the home.

INTERIOR

One word of restraint: do not undertake any major redecorating unless it is absolutely necessary. That beautiful new Berber carpet in the living room and Tyrannosaurus Rex wallpaper in the children’s bedroom may not be to the buyers’ liking. They may see it as decoration they’ll have to replace when the home is theirs. In most instances you are not likely to recoup the added expense of any such work.

Repair or replace worn-out and broken accessories. Badly chipped tiles on the kitchen counter, a broken hand railing on the staircase, or noisy hot water heater create a negative impression of the home’s overall condition. The rather minimal expense of eliminating these problems is usually worthwhile.

Clean up! It doesn’t have to be boot camp spotless, but your home should be generally clean and uncluttered. Wash and wax hard wood floors, vacuum carpets thoroughly, remove grease and grime fro m walls. Clean kitchen and bathroom tiles. Polish and dust your furniture, and vacuum, if necessary.
 
Make certain all faucets, sinks and toilet bowls are cleaned and properly functioning.
 
Thin out closets. If your clothes are packed to the rafters, place enough in temporary storage to give the impression that your home has adequate closet space.

Garage and basement: Get rid of the junk! You may think you can’t live without your collection of 25 fishing rods, but your buyers will want to see a neat, orderly space with enough room for their favorite odds and ends. Also, put a fresh coat of white paint on the walls. It’s a minor expense and it goes a long way toward creating the right feeling of freshness.

Furniture: Take an hour to visit an apartment complex model. Note how these typically small rooms are made to appear larger than they are, with very little furniture. Traffic patterns are open and accessible; doors to bathrooms often removed. Apply those lessons at home. Remove two or three chairs, an end table and lamp, or other objects that are not absolutely necessary in a room. Make sure your own traffic patterns within and between rooms are generous.

PREPARE FOR YOUR CLOSING

You will want to have these items complete or in hand when you come to the closing (please confirm with your escrow officer, as practices vary by state):

BUYER 

• Buyer’s copy of purchase agreement 
  
• Cashier’s check(s) to make all payments 
  
• Proof of purchase of insurance for fire casualty, etc.
  
• Invoices for any unpaid taxes, utilities or assessments
  
• Photo identification (passport, driver’s license, or state-issued identification card)

SELLER

• Seller’s copy of purchase agreement
  
•  Invoices for any unpaid taxes, utilities, assessments, and latest utilities meter readings
  
•  Receipts for last payment of interest on mortgages
  
•  Bill of Sale of personal property covered by the purchase agreement
  
•  Any unrecorded instruments that affect the title
  
•  Proof of satisfaction of any mechanics’ liens, chattel mortgages, judgments, or mortgagesthat were paid prior to the closing
  
•  Photo identification (passport, driver’s license, or state-issued identification card)

ADVANTAGES OF 1031 TAX EXCHANGE

PROTECT YOUR EQUITY

When you sell your appreciated (or fully depreciated) trade, business or investment real estate, you expose your equity to capital gains taxes or ordinary income taxes. You may defer payment of those taxes if you exchange your property for other qualifying property.

Few buyers have property to trade, and not all sellers have located suitable replacement property when they’ve decided to sell. That’s where the Law Offices of Joseph B. Miller, Esq. can be of assistance. We are experienced at facilitating exchanges, and we have associated offices and agents located throughout the United States.

The IRS has issued Regulations to assist you in structuring an exchange that qualifies for tax deferral in both simultaneous and deferred exchanges. You don’t have to identify “replacement property” before you sell, but you do have to plan ahead to protect your option to defer paying those taxes. Discuss the advantages of an exchange under Section: 1031 of the Internal Revenue code with your tax and legal advisor before you close on your sale.

The IRS offers several “safe harbors” for you to choose from in structuring your exchange. The qualified intermediary safe harbor is the most common. It requires that you enter into a written agreement with us, and that you “park” the sale proceeds with us until you close on the purchase of the replacement property. Your money is invested by us during the exchange period. All interest accrues to you. This ensures compliance with the tax laws, which severely limit your right to use, control, or withdraw the sale proceeds.

Naturally, there are strict guidelines and time limits you must observe. Two of the most important ones are:

1) you must identify replacement property or properties within 45 days after you sell your property;

2) you must acquire the other property within 180 days of your sale, or prior to the tax return due date for the year in which your sale took place — whichever is earlier.

Joseph B. Miller Esq does not advise you how to structure your transaction; nor do we take title to either property. These limitations protect you and us. They also help you avoid additional expense.

INSTRUCTIONS FOR FILING HOMESTEAD EXEMPTION IN FLORIDA

Any buyer purchasing a home as ther primary place of residence may file for the $25,000.00 homestead exemption.  You may also qualify for the widow exemption, disabled exemption, etc. 

You must have purchased your home by the end of the calendar year in order ro qualify for the exemption for the following year.  However, you may file your application anytime after your closing, but NO LATER THAN MARCH 1.

You must bring a copy of your recorded Warrenty Deed and all parties named as grantee(s) on the Warranty Deed.  If all parties are unable to be present, copies of the below information MUST be provided.

Please bring your Social Security number, and evidence that this is your primary residence including a Florida Driver's Liscense, a Voters Registration Card and a Florida Car Registration.  These requirements are subject to change without notice, so please verify this information with your local Property appraiser's office.

LINKS SECTION

Listed below are some helpful links.