Some sellers decide to list their homes as for sale by owner. There are multiple reasons why sellers opt to go this route instead of relying on a realtor to list, advertise and market their property for them. It requires a little extra work, but sellers can still sell their homes in many cases when selling them directly.

There are certain taxes associated with selling a home. The amount and types of taxes can vary according to the type of property, the amount that it was sold for and where the sellers. Home sellers may be able to deduct certain items related to the home sale from their taxes.

One thing that many sellers are concerned about is the money made from the sale of a home. It’s nice to have a fair amount of money that can be put towards the purchase of another home, a retirement property or other big-ticket items. However, the transaction may be subject to state or federal taxes.

One of the most commonly asked questions when a house is sold is what happens to the mortgage. This is a common concern for homeowners who still have a balance on their home loans. The lender still needs to be paid for the services rendered.