The keys have changed hands, the sale is closed, and your Silver Spring, Maryland home is now occupied by someone else. Now what? Many home sellers spend so much time focused on the sale and getting through the closing without considering what comes next. Here are a few tips:
- First and foremost, keep every record you have related to the house. As said by realtor.com, records of any improvements you’ve made and every shred of paperwork from the sale of the house are necessary to keep around. It can be tempting to lock this stack of paperwork up and throw away the key, but you’ll need proper documentation for your taxes. If you put the paperwork in storage, it will just add further stress during tax time. Keep these documents on hand to ease your run-in with the taxman.
- If you’re not immediately buying another home after the sale of your Silver Spring dwelling, consider investing your money. Of course, this isn’t the time for risky stock ventures, but putting your cash in a money market fund can be a nice, conservative investment strategy. Money market funds have a reasonable return and are much safer than alternative investment methods. However, if you are buying right out of the sale, have your 20% down payment on hand to qualify for the best mortgage rate. Also, consider using the same real estate professional, or ask for a referral from them, if the sale of your Silver Spring home went smoothly.
- Remember to complete your change-of-address form. In the midst of all the hustle and bustle of selling your Silver Spring home, you may have forgotten to fill out and send in the form. The U.S. Postal Service recommends doing this a month before you move. Filling out your change of address form early saves you and the buyer of your home the hassle of tracking down and rerouting your mail.
For further assistance in the home selling and home buying processes, feel free to get in touch with us. We’d be happy to help answer your questions pertaining to real estate in the Silver Spring area.