Closing day is the culmination of a lot of hard work throughout the process of buying or selling a home. No matter which side of the equation you are on, plenty of effort has gone into reaching this point, and the finish line is now at hand. So, what actually happens on the day a house closes? This article will present you with the basics, so you can know what to expect.

To work with some of the leading Realtors in Guilford County on your next real estate search, turn to Smith Marketing.  Get in touch today to get started.

The Official Transfer

Although there are plenty of legal steps involved, a real estate transaction is nothing more than a trade. The buyer of the home is trading an agreed-upon amount of money for the rights to the house (and the property it sits on, in the case of a single-family home). So, you can think about the closing day as the point when this transaction becomes official and everything is wrapped up. That means the seller of the property receives the money from the buyer, and the buyer receives the keys from the seller and has the legal right to start moving in.

A Pile of Paperwork

Perhaps the most notable thing that happens on closing day is the signing of paperwork on behalf of the buyer. If you are the buyer, this will probably be the biggest stack of papers you sign in your life, and it can take a while. You’ll have an appointment at which the closing agent will help walk you through the paperwork, make sure everything is in order, and show you all of the blanks that require your signature. Assuming there are no hang-ups with the paperwork along the way, you’ll receive the keys – often from your real estate agent – and you can start to turn the house into your home.

The End of a Long Road

In many ways, closing day can feel like the end of a long and rewarding journey toward buying a home (or selling a home and receiving a nice sum of money). The period from having an offer accepted to reaching closing and finishing the deal can vary in duration, but it’s often several weeks. There are possible issues along the way that can hold up the closing, including lending problems, issues with the inspection or appraisal, or even developments outside of the scope of the deal (like major weather events or natural disasters). To navigate this path and end up at the destination you hoped to reach, it’s best to lean on the advice and guidance of a trusted agent.

Here to Help

Whether you are just starting to look at houses for sale, or you are thinking about what you need to do to your own home to put it on the market, you don’t have to be alone. Contact Smith Marketing today to learn more and to put their expertise to work for you.

While there is a lot of work to be done when getting ready to sell a home, and the process can be stressful, there is a big carrot waiting as a reward at the end – the money that will land in your bank account when all is said and done. This might be the biggest sum of money you ever secure in your life at one time, so it’s an exciting opportunity. But is the IRS going to come in and take a portion of that sale in the form of taxes? This article will take a closer look.

If you are getting ready to sell one of the top custom homes Greensboro has to offer, or you want to explore some homes for sale to make your own purchase, Smith Marketing is the right partner for the job. Get in touch today to learn more.

A Complicated Answer

You probably won’t be surprised to hear that the answer to the question of whether or not you have to pay taxes when you sell your house comes down to two words – it depends. As seems to be the case with everything related to paying taxes, there are plenty of complicating factors here that can determine your tax liability.

First, the good news – it’s quite possible, and maybe even likely, that you won’t have to pay taxes on the money you make from the sale of your house. If you file as a single taxpayer, you’ll be able to make up to $250,000 on the sale without owing federal taxes on the transaction. If you are married and filing jointly, that number doubles to $500,000. The amount you are considered to have made on the transaction – your “capital gains” – is determined by comparing the original purchase price to the sale price. As an example, if you purchased the property for $200,000 and then sold it for $350,000, you would have capital gains of $150,000.

Some Exclusions Apply

For the “average” home seller, the rules above will apply in terms of not having to pay taxes on up to $500,000 of capital gains on a home sale. With that said, there are some exceptions that would expose you to tax liability on this transaction. A partial list of those exceptions includes the following –

• If you didn’t live in the house as your principal residence, you will need to pay taxes
• Taxes are also due on real estate capital gains if you already claimed the relevant exclusion for your tax status (either 250k or 500k) within the last five years
• If you haven’t owned the property for at least two years within the last five, taxes will be due

The Best Advice

While you can use the information above as a good starting point to understand the tax situation around your home, the best thing to do is simply to retain the services of an accountant who can point you in the right direction. Spending the modest amount of money required to work directly with an accountant on this matter will be worth it in the end when you are sure that you’ve done everything correctly.

Buying a house is one of the biggest investments that most people will make in their lifetime. It is not a decision that should be taken lightly, as it involves a significant amount of money and time. Finding your dream home in Greensboro can be a daunting task, but it doesn’t have to be. A real estate agent can help you simplify the process and make it less stressful. In this article, we will discuss the role of a Greensboro real estate agent in finding your dream home in Guilford County.

1. Knowledge of the Market

A real estate agent has a deep understanding of the local market. They have access to information about the latest trends, prices, and inventory. They can help you identify the areas that meet your criteria and suggest suitable properties that you may have missed. Agents know the local neighborhoods and can provide you with insights about the schools, shopping, entertainment, and other amenities in the areas you are considering. This information can help you make informed decisions about where to buy your dream home in Greensboro.

2. Negotiation Skills

Negotiating the price of a property is an essential part of the home buying process. A real estate agent has the negotiation skills and experience required to help you get the best deal possible. They can use their knowledge of the market and the seller’s motivations to negotiate on your behalf. A good agent knows how to communicate your interests effectively and get the seller to agree to your terms. They can also help you navigate the complex paperwork involved in the negotiation process.

3. Access to Listings

A real estate agent has access to a wide range of listings that are not available to the general public. These listings include properties that are not yet on the market, as well as those that are being sold privately. Working with an agent can give you an advantage over other buyers who are searching for properties on their own. An agent can help you find properties that meet your specific criteria and schedule viewings at your convenience.

4. Professional Network

A real estate agent has a vast network of professionals that can help you throughout the home buying process. They can recommend reliable home inspectors, mortgage lenders, and attorneys who can guide you through the legal aspects of buying a home. Agents also have relationships with other agents, which can be beneficial when negotiating the sale of a property. They can work together to ensure that the transaction goes smoothly and that you get the best deal possible.

5. Assistance with Paperwork

The paperwork involved in buying a home can be overwhelming. A real estate agent can help you with the paperwork, ensuring that everything is in order and that there are no surprises. They can help you understand the legal documents involved, such as the purchase agreement, inspection report, and closing documents. An agent can also assist you in filling out the necessary forms and submitting them to the appropriate parties.

Conclusion

In conclusion, working with a real estate agent in Greensboro can make the process of finding your dream home much less stressful. Agents have the knowledge, skills, and resources required to help you find the perfect property and negotiate the best deal possible. They can provide you with access to listings that are not available to the general public and recommend professionals who can assist you throughout the process. If you are looking to buy a home in Greensboro, consider working with a real estate agent to help you achieve your goals.

If you are in the market for a high-end home, you likely have a couple of different priorities in mind. First, you want the home to be functional for you and your family. Once that box is checked, you’ll also want to think about the design of the home and how it fits with your tastes and style. It’s that second point that will be the focus of this article.

To work with a proven Allen Tate Realtor that has deep experience in the Greensboro market, turn to Smith Marketing today. Always up to date on the latest luxury homes for sale, and with countless connections in the industry, this is the right team to put on your side.

Bring Nature Inside

One of the most popular trends, and one that it’s easy to imagine will stick around for a while, is the concept of bringing the natural world indoors in your design. We spend more time indoors in our lives than at any point in history, so it only makes sense to at least bring in some of the visual elements of the natural world to make us feel more comfortable. Using creative ways to incorporate nature into interior designs is a great way to give a home an upscale yet approachable feel.

A Blend of Materials

There was a period in the history of interior design that favored a monotone feel in various spaces, but that trend has faded in favor of variety. These days, more and more homeowners seem to prevent a blend of materials that give their rooms a layered, cozy feel. For instance, this could involve using wood floors that are partially covered by a soft rug, and then finishing off the space with curtains that complement the flooring. However it plays out in your home, utilizing varied materials is a popular and typically successful approach to design.

Embracing Antiques

You’ll take a big step toward creating a sophisticated space if you bring in some older, antique pieces to finish off a room. Blending older elements with newer components does well to balance out your design, much in the same way that mixing materials can do the same thing. It doesn’t even take a lot of older elements to achieve this approach successfully – just one or two pieces in a room can take some of the shine off the new parts and even everything out nicely.

Advanced Lighting Options

The emergence of LED lighting as a mainstream standard has opened up possibilities that simply didn’t exist previously. Well-designed lighting schemes that use LEDs can be customized from day to day to suit the occasion and needs of the people in the room. For instance, standard bright white lighting can be used for practical purposes when you just need to see everything clearly, but those lights can be adjusted down and have the tone altered to develop a certain mood for an evening gathering. Lighting that opens up your options will be another step toward designing a high-end, versatile, impressive space.

Given the importance of a real estate transaction to your overall financial future, it’s understandable that you would want to look for every possible advantage. One area where some buyers and sellers look for an edge is timing – by buying or selling at the right time, is it possible to get a better deal? Specifically, summer seems to be the focus of many of these discussions, so this article will take a closer look at what happens to the real estate market when the temperatures rise.

As Greensboro Realtors, Smith Marketing has experience working with everyone in the market, from Greensboro custom home builders all the way to individual buyers and sellers. Wherever you find yourself on that spectrum, feel free to reach out to the Smith Marketing team right away to learn more about their services.

A Common Belief

Let’s start by talking about why this would be a question in the first place. It is a belief held by some that house prices are higher in the summer simply because more people are looking for homes when the weather is nice and it is more welcoming to think about moving. With more competition in the summer, as this theory goes, there are more offers placed on available houses, and the prices are driven up.

Is It True?

There does appear to be at least some truth to this idea. Data indicates that prices do tend to go up a bit in the summer before retreating slightly when the weather cools off once again. So, if you are thinking of selling your home, it might be a worthwhile strategy to consider putting your home up on the market in the warm weather to take advantage of the busyness of the market at that time.

Of course, you might not have the flexibility in your schedule to make this work – and that’s okay. For instance, if you need to move for work, you might have to put your home up for sale right away, no matter what time of year it happens to be. And that’s just fine. While prices do tend to perk up a bit in the summer, it’s not a dramatic change. You can secure a fair market price on the sale of your home any time of year.

What About Buyers?

The message for sellers is that it may be possible to get a little more for your property if you sell in the late spring or summer months. So, if possible, it makes sense to list during that time of year. But does that mean that buyers should only shop during the off-season when prices are suppressed?

Not necessarily. Sure, prices might be slightly lower in the winter months, but inventory will be significantly lower, as well. As a result, buyers will have fewer properties to pick from and might have a harder time finding something that suits their needs. Your best bet as a buyer is likely to just start looking for properties whenever you are ready to move. If one comes along that is the right fit for your needs and suits your budget, it doesn’t much matter what the calendar says – you can put in an offer and try to close the deal.

If you have started to think about selling your home, you might be wondering what you can do to make the property as valuable as possible for prospective buyers. While there isn’t anything you can do about the overall market conditions, you can take some inexpensive steps to position your home to be as attractive to buyers as possible. By using some or all of the ideas in this article, you can put up your listing with confidence.

The top team associated with Allen Tate Realty, Smith Marketing is the ideal partner for your upcoming sale. These are some of the leading Realtors Greensboro has to offer, so you’ll get accurate, reliable answers to all of the questions you have about selling your property. Get in touch right away to get started.

1 – New Fixtures

This is a great way to upgrade your home quickly because not only can fixtures be rather affordable, but they are easy enough for most people to install with just basic tools. For example, adding fresh handles and pulls to your kitchen drawers and cabinets is a task that requires little more than a screwdriver and some spare time. For an older home with worn fixtures, these kinds of updates can make a huge difference.

2 – Fresh Paint

You’ll probably see this piece of advice in plenty of places, and that’s because it’s such an easy step to take. Paint is pretty inexpensive in most cases, and unless you have extremely tall ceilings or spots in the house that are difficult to access, you might be able to do the work yourself, but the best results will come from a professional painting crew.  Your real estate agent will likely be able to help you with a recommendation for a quality painting company.  And remember If you are painting with the intention of selling the house in the near future, set aside your personal tastes and opt for simple, neutral shades that will appeal to a wide range of buyers.

3 – Move Out the Clutter

Okay – so this isn’t technically a home improvement project, but it can make your house much more attractive to potential buyers once it hits the market. It’s never too early to start getting rid of things that you don’t need anymore to free up space and make the house feel bigger. There is a good chance you’ll be able to find quite a few things around the house and garage that can simply be thrown out once you start looking closely, and you’ll probably find even more that can be sold or donated.

4 – Improve the Landscaping

This is another point that requires minimal financial investment, as long as you are willing to do some hard work. Making sure your landscaping is in good shape when the house hits the market will boost the curb appeal and offer buyers a great first impression. You don’t need to be a master gardener to make big improvements here – just clean up the yard, remove weeds, keep the lawn green, and consider adding a couple of flowers for color.

5 – Professional Carpet Cleaning

Another point on the list that calls for bringing in the professionals is this one, but you’ll likely find it to be well worth the investment. Professional carpet cleaners have access to tools and equipment that aren’t easily available to the consumer, so you can expect to get great results for only a modest investment. This step is worthwhile for all sellers, but it’s particularly valuable for pet owners, as those pets may have been hard on the carpets over the years.

Selling your home is a process that has a reputation for being particularly difficult to navigate. You have probably heard horror stories from friends or family members about home sales gone wrong, or tales of having a house sit on the market for months on end without much interest from potential buyers. While the last few years have seen a real sellars market some people are concerned that a little but slower market means they can’t sell their home quickly for a good price.  If such fears are holding you back from selling, this article should help give you the confidence needed to move forward.

Smith Marketing is highly experienced in the task of putting up Greensboro homes for sale and getting great offers in short order. To work with a Greensboro real estate team that is sure to deliver and exceed your expectations, reach out today to learn more.

The Right Partner

First and foremost, working with the right agent is your best bet for avoiding hassles in the selling process. You simply can’t overestimate the value of an active, respected agent in this process. With a good partner on your side from the start, the little roadblocks that come up along the way will be dealt with quickly and you can stay on track toward closing a deal much sooner than would have otherwise been possible.

Opt for Professional Photos

In the digital age, it’s pictures that sell houses. Almost everyone who is looking for a home is going to first interact with that home by viewing some images online. Then, if they like those images, they will reach out to an agent or try to set up a showing. If the images fall flat, however, they’ll just move on.

Hiring a professional to take your photos is more than worth the investment in the end. Real estate photographers know how to frame their shots to make the house look great. Specifically, they’ll aim to make each room look large and spacious, which is one of the first things prospective buyers are going to want to see.

Plan for Showings

You aren’t going to be able to sell your house without having at least a few showings for prospective buyers to check it out and see what they think about it in person. Those showings are going to be a little disruptive, so think about where you will go and what you will do while they are underway. This is particularly important for people with kids or pets to consider.

What Comes Next?

Many homeowners go into the selling process without a clear vision as to what will come next. They may be unsure that their house is going to sell quickly, so they just wait to see what happens with the listing before doing anything else.

This approach can quickly turn the selling process into a major headache. You need to have a clear vision of what you are going to be doing when the house sells, and how that transition period will play out. Are you going to be purchasing another home? Moving into a rental?  Whatever your intention may be, having clarity around what is going to happen will help to limit the stress when the offers start coming in and the process accelerates toward closing a sale and with the right partner by your side, you can have the confidence to move forward.

Everyone wants to get top dollar when they sell their home. This might be the largest financial transaction of your life, after all, so it only makes sense to do your best to get as much as is reasonable out of the deal. Of course, the buyer on the other side of the table wants to get a good deal as well, so sound strategy and wise negotiating will be essential. This article is going to present some fundamental tips to help you sell with confidence. 

An Allen Tate team with a outstanding record of success in the area, Smith Marketing is a Greensboro Realtor that you can trust with the important task of selling your home. Get in touch today to get started.

Get Rid of Stuff

One of the best things you can do for the value of your home on the open market is also one of the easiest – get rid of stuff. You should significantly decrease the volume of stuff that is in your home when you get ready to put it on the market. This can be done by selling, donating, or throwing away things you no longer want, and you may also choose to move some of your things into a storage unit where they can be kept until the new home is ready for your family.

Add a Coat of Paint

Paint is affordable to purchase, and if you apply it yourself, the whole process might not cost more than a couple hundred dollars. Fresh paint helps a house to feel new, and you’ll quickly cover up any notable blemishes that the old paint had picked up over the years. When painting with the purpose of listing your house, choose neutral colors and target rooms that will be seen most prominently during showings.

Tend to the Landscaping

You don’t need to do anything dramatic with your landscaping in advance of listing your house for sale, but you don’t want the yard to be a mess, either. The name of the game here is making sure the property is neat and tidy, rather than covered with weeds and overgrowth. Spending a weekend just cleaning up your yard and the areas around the house will go a long way toward impressing potential buyers when they stop by to take a tour.

Tend to Minor Maintenance

The little things can make a big difference when trying to maximize the value of your home. It’s important to think about how much something will cost to repair as compared to how much it can boost the sale price in the end. Sometimes, small repairs can make a big difference.

For instance, if the knob on your front door is rattling or jiggling, consider replacing it with one in proper working order. That’s a very small investment in something that everyone who comes to tour the house is sure to notice. Go around the house and pick out any minor maintenance points that can be addressed promptly to make sure your home puts its best foot forward once showings begin.

Buying a home is an exciting – and sometimes stressful – process. Given the amount of money on the line, this is not a decision that you want to get wrong. While there are a few mistakes that you could make along the way, learning from expert advice will help you steer clear of trouble and wind up with a house that you can love for years to come.

If you are shopping in Grandover Greensboro, which offers some of the best luxury homes Greensboro has to offer, Smith Marketing would make the ideal partner for your house search. Of course, Smith Marketing would be happy to serve you when looking elsewhere around the area as well, so reach out today to get started.

Ignoring Location

t’s been said so many times that it’s a cliché, but it’s repeated that often because it’s true – real estate is all about location, location, location. Simply put, you want to think first about where you want to live, and then you want to find a house in that area that suits your needs. The only thing you aren’t going to be able to change about a house after you move in is where it is located.

Many home buyers make the mistake of falling in love with a particular house and they wind up overlooking the location as a result. In the long run, you are going to care more about where the house is than anything else, so make that the primary focus of your search. Sure, you still need to find a house that you like and that fits your lifestyle, but it all starts with location.

Overlooking the Financial Component

This is a big transaction, and you don’t want to go into it casually in terms of financing. You should start working on the financial piece of the puzzle before you even think about shopping for houses in person. Nailing down exactly how much you can afford by working directly with a lender will give you much more confidence once you get out and start exploring some active listings.

Being Too Particular

The perfect house doesn’t exist. It’s easy to build up a fantasy in your mind about the ideal home that is in great condition and has every last feature you desire, but it’s unlikely that that place is on the market and ready for you to move in.

Don’t get hung up on looking for perfection. Make a list of the things that you want to find in a home, and compare the properties on the market to see which ones get the closest to hitting the mark on every point. If your list is long, it’s unlikely to find a home that checks off every box, but with a little bit of patience and perspective, you should be able to find a house that you’ll love living in for years to come that has almost everything you wanted.

When it comes to buying or selling real estate, you may have come across the terms “REALTOR” and “real estate agent.” While these terms are often used interchangeably, they do have distinct differences.

In short, all REALTORS are real estate agents, but not all real estate agents are REALTORS. This is because REALTORS are members of the National Association of REALTORS (NAR), which is a professional organization that sets ethical and professional standards for its members.

So, what are some of the key differences between a REALTOR and a real estate agent?

Membership in a Professional Organization
As mentioned, the most significant difference between a REALTOR and a real estate agent is membership in a professional organization. A real estate agent may hold a license to sell real estate in their state or region, but they are not necessarily bound by a code of ethics or professional standards beyond what is required by law.

In contrast, REALTORS are bound by the NAR Code of Ethics, which sets forth ethical standards and guidelines for behavior in areas such as advertising, representation, and client confidentiality.

Use of the Term “REALTOR”
Only those who are members of the NAR can use the term “REALTOR” to describe themselves. This means that if you see someone advertising themselves as a REALTOR, you can be sure that they are a member of the NAR and bound by its Code of Ethics.

Additional Training and Education
While both real estate agents and REALTORS must meet the licensing requirements set by their state or region, REALTORS may also choose to pursue additional training and education through the NAR. This can include courses in areas such as property management, real estate finance, and real estate law.

Networking Opportunities
REALTORS may have access to a wider network of professionals in the real estate industry, including other REALTORS, appraisers, lenders, and attorneys. This can be beneficial when it comes to finding properties, marketing listings, and navigating complex transactions.

Marketing and Advertising
REALTORS may have access to additional marketing and advertising resources through the NAR. This can include access to professional photography, virtual tours, and social media marketing tools.

Reputation and Credibility
Being a member of the NAR and adhering to its Code of Ethics can help to build a REALTOR’s reputation and credibility in the industry. This can be especially important in competitive markets where clients are looking for someone they can trust to represent their interests.

Advocacy and Political Involvement
The NAR is involved in advocating for policies and legislation that support the real estate industry and homeownership. As a member of the NAR, a REALTOR may have the opportunity to be involved in these advocacy efforts and have a say in shaping the future of the industry.

So, Which One Should You Choose?

When it comes to choosing between a real estate agent and a REALTOR, there is no one-size-fits-all answer. Ultimately, the most important factor is finding someone who is knowledgeable, experienced, and trustworthy.

If you are considering working with a real estate agent, be sure to ask about their licensing and qualifications, as well as their experience in your local market. If you are specifically looking for someone who is bound by a code of ethics and professional standards, you may want to consider working with a REALTOR.

Ultimately, the key is to do your research and choose someone who you feel confident can help you achieve your real estate goals.

In conclusion, while REALTORS and real estate agents have many similarities, the key difference lies in their membership in a professional organization and adherence to a code of ethics and professional standards. By understanding these differences, you can make an informed decision when choosing someone  to represent you in your real estate transaction. Whether you choose a real estate agent or a REALTOR, it’s important to work with someone who has the experience, knowledge, and expertise to help you navigate the often complex world of real estate.

Additionally, it’s important to keep in mind that not all real estate transactions are the same. Depending on the type of property you are buying or selling, as well as your unique needs and circumstances, you may require a specific type of expertise or experience. For example, if you are buying or selling a luxury home, you may want to work with a REALTOR who specializes in high-end properties.

The most important thing is to find someone who you feel comfortable working with and who has your best interests in mind. Whether you choose a real estate agent or a Greensboro REALTOR, be sure to ask plenty of questions, do your research, and choose someone who you trust to guide you through the process.