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S E L L E R S information

   
  Glossary of Real Estate Terms
  Selling Your Home, Part 1 - Preparation
  Selling Your Home Part 2 - The Move
  Moving Preparation Guidelines
   
 


GLOSSARY OF REAL ESTATE TERMS

Agent
An individual who represents a seller, a buyer or both in the purchase or sale of real estate.

Amortization
The schedule of loan payments that establishes the amount of payment to be applied to the principal and the amount to be applied to interest, usually on a monthly basis, for the full term of the loan.

Annual Percentage Rate (APR)
The TOTAL interest rate of a mortgage, including the stated loan interest as well as any upfront interest paid in securing the loan. The APR will invariably differ from the mortgage rate quoted due to the inclusion of these items.

Appraisal
An estimate of value of a Real Estate property by a professional third party. Virtually all non-owner financed mortgages will require an appraisal and is generally paid for by the buyer.

Adjustable Rate Mortgage (ARM)
A mortgage in which the Interest rate is adjustable, meaning that the rate can go up or down according to prevailing financial market conditions.

Assessment
The value of a property as determined by the local tax jurisdiction which is used to determine the amount of your property taxes.

Buyer's Agent
A Real Estate Agent that has made an agreement to represent the buyer exclusively, rather than the seller.

Comparable Market Analysis (CMA)
A comparison of the prices of similar houses in the same general geographic area. A CMA is used to help determine the value of a property, either for a seller or a buyer.

Closing
The process that effects the final transfer of the deed from the seller to the buyer, as well as finalize all aspects of the mortgage of the property.

Closing Costs
Funds needed at the time of closing (separate from and in addition to the down payment). Loan origination fees, discount points, Attorney fees, recording fees and pre-paids are some items that may be included. They often will total from 3% to 5% of the price of the home, payable in cash.

Contingencies
These are conditions - or "safety valves" written into Real Estate offers and contracts to prevent a buyer from being forced to buy a house that is unsatisfactory - either structurally or financially. Examples of contingencies are "This contract is subject to the buyer obtaining a satisfactory whole house inspection." or "Subject to the buyer being able to obtain a mortgage."


Condominium
Housing where the owner owns only the unit in which they live - from the interior walls inward, generally - as well as a portion of the common area.

Debt to Income Ratio
The ratio of a borrower's total debt as a percentage of their total gross income.

Deed
The document that, when recorded with your local government, determines ownership of a property. Transferred from seller to buyer at closing.

Earnest Money

Money that is submitted with an offer to purchase which indicates a buyer's seriousness and good faith. In virtually all cases, earnest money will need to be submitted at the time of the offer and remains in escrow until the time of closing, at which time it becomes part of the down payment.

Equity
The difference between the value of a property and the total of any outstanding mortgages or loans against it.

Escrow
Funds held in reserve both prior to closing (for example the earnest money and deposit) by a third party and after closing by the mortgage company to pay future taxes and homeowners insurance. In some areas, "escrow" also refers to the closing process.

Fixed Rate Mortgage
A mortgage loan where the interest rate is established at its origination and continues unchanged through the life of the loan.

FSBO (For Sale By Owner)
Real Estate that is sold without the assistance of an Agent. FSBO can refer to both the individual selling the property "They are a FSBO," or the property itself "that house is a FSBO."

Foreclosure
The process through which a lender takes back property from a defaulting owner and re-sells it.


Homeowner's Association
An owners group, whether in a condominium, townhouse or single family subdivision that establishes general guidelines for the operation of the community, as well as its standards.

Inspection
A whole house inspection of a home being considered for purchase, which looks for defects in the property.

Interest
That portion of a mortgage payment that is the "charge" for using the lender's funds.

Lien
A legal claim against a piece of property that can prevent it from being sold unless the lien is satisfied
(paid off). Liens can be filed by unpaid contractors, or other debtors, in a legal process so they will be paid when a property is sold.

Listing
A property for sale by a Real Estate Brokerage and Agent.

Loan Origination Fee
A charge imposed by the lender, payable at closing, for processing the loan.

Lock-in
An agreement by the lender at the time of mortgage application or shortly thereafter, to write the mortgage at a specific interest rate, whether rates rise or fall up to the date of closing. Obviously a good move if rates are rising, not so good if they are falling. Lock-ins have specific expiration dates, such as 30, 60 or 90 days in the future.

LTV (Loan to Value)
The ratio of the amount of the mortgage as a percentage of the value of the property.

MLS (Multiple Listing Service)
A listing (almost always computerized) of all the properties for sale by Real Estate Brokerages in a given
geographical area.

PMI (Private Mortgage Insurance)
Required on virtually all conventional loans with less than 20% down payment. Although the payments for PMI are included in your mortgage payment, it protects the lender should you default on the loan. On FHA loans, you will pay a MIP (Mortgage Insurance Premium) which accomplishes the same purpose.

Points

1 point is equal to 1% of the loan value, paid at closing. Points can be loan origination fees or "discount points" which reduce the interest rate of the loan (you are actually paying a finance charge up front). When a lender, for example, quotes a rate of 8 1/2% with 1 + 1 points, 1 point is for the origination fee and 1 point is for the discount fee.


Prequalification
The first stage of a mortgage application where the lender will run a basic credit report and determine your debt to income ratio in order to see how much mortgage you qualify for.

Pre-paids
Paid for (in cash) at closing for such items as homeowners insurance for one year and real estate taxes for several months.

Principal
The amount borrowed for a mortgage loan. Your monthly mortgage payment will be applied to both the interest and the principal (be assured, though, that the lions share will go to the interest portion in the first years of the loan).

Property Tax
An annual or semi-annual tax paid to one or more governmental jurisdictions based on the amount of the property assessment. Generally paid as part of the mortgage payment.

Recording
The act of entering deed and/or mortgage information into public record with your local government jurisdiction.

Sub-Agent

A Real Estate Agent who is working with a buyer but who represents the seller in the transaction.

Title Insurance
Protects your title - your ownership rights - from claims against it. Paid at closing, title insurance may be the responsibility of the buyer, the seller, or both, depending on what is traditional in your locality.

Warranty
Covers either most of the house in a new home, or selected items (for example the heating and air conditioning system or the water heater) in a used home. Warranties can vary widely and are optional in used homes (paid for by either the buyer or the seller).

Zoning
Laws that govern specifically how a zoned area can be used. For example, an area may be zoned for single family residential, condominiums, commercial commercial or retail, or a mix of two or more uses.

I have covered the major terms you should be aware of. If there are any others you would like to
discuss, please just let me know .



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Selling Your Home, Part 1 - The Preparation

Set your price carefullyl
Too high and buyers may not consider it, too low and you're selling yourself short. As a Realtor,
I will give you a free home market anallysis if you ask. This gives you an idea of how your home compares
financially with similar, recently sold homes in your area. The analysis may also include how much you
might expect to net after closing.

Don't do major remodelilng
Don't break the bank preparing your home for sale. Pricey items such as a new roof may be big hits with buyers, but rarely does the selling price end up covering the payout for such costly home improvements . When possible, stick with the simpler (and less expensive) options rather than major remodeling.

Start curbside!
Stand at the street and take an impersonal look at your home. Does it invite you come in? Take care of any dirt or peeling paint on the exterior, including shutters, window frames and sills. A freshly painted front door is very inviting. Make sure there are no toys or trash on the walkway/stairs/porch. If possible, plant flowers along the walk or by the entrance door.

Clean!
The obvious seller's commandment: thou shall clean. Remove all clutter from every room, including closets. Remember that potential buyers are nosy and will open closets and cabinets, so organize these spaces. Organize your basement and attic. Have a garage sale with all the stuff you don't want to move to your next home. Wipe down and paint walls and trim if necessary. Many people advocate repainting with a neutral color palette to appeal to a wider range of potential buyers. You don't want your home remembered and referred to as "that house with the orange bathroom". Clean all windows (inside and out), light fixtures and ceiling fans. Bathrooms should always be squeaky clean. Inspect and make any necesary repairs to the plumbing, heating, cooling and electrical systems. Highlight the bath and kitchen by selecting some attractive new towels, curtain, or cabinetry knobs.

And keep it clean
Maintain the new and improved interior and exterior of your home until you successfully sell. It's hard, but it's necessary. A professional cleaning service may be able to help maintain the new clean look with occasional visits.

Light it up
When showing your house, provide plenty of light and make sure your home is a warm, welcoming place. Open the curtains to let in the sunshine. In the event of an evening showing, make sure you have ample lighting available in all areas. Be sure any burned-out light bulbs have been replaced. Fresh cut flowers make a nice addition, and a pleasantly scented house is very inviting. Make certain there are no "musty" smelling areas. All bad odors are a real turn off for potential buyers.


Go away
Most realtors and potential buyers would prefer that the seller not be present during a showing, to avoid limiting the buyers' conversation or making them uncomfortable. Children and pets should also be absent or out of the buyers' way during a showing.



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Selling Your Home, Part 2, About the Move

Don't Make Avoidable Mistakes

Remember that time is important on moving day. For instance, if you have a waterbed, it will probably take a couple of hours to empty the water, so plan to do it the night before.

Find out if your homeowner's or renter's insurance policy covers your belongings in transit.

It is important to remember that all pools and spas that can hold water must have appropriate barriers to prevent access by young children.

It is a good idea to compare measurements of the doorways and hallways in your new home. You may actually need to sell or donate some items, and also before deciding to move appliances, measure the space in your new home to be sure they will fit.

Don't forget to be environmentally friendly! Flatten all your moving boxes for recycling. Many moving companies will pick them up after your move.

Don't Forget the Bills and Expenses

It is important to arrange finances for quick cash to cover unexpected or emergency moving-related expenses.

Make sure that direct debit and billing links to your bank accounts are organized to handle any changes resulting from your move.

Be sure to settle all bills that may be overlooked in the move a few days before moving day.

Budget wisely for forgotten items you may need once you move in to your new home. Did you remember to find out if your home comes with a hose, for instance?

Keep it or Part with It?

A general rule of thumb is if something hasn't been used in over 12 months, seriously consider selling or donating it. Help from a family member or friend will ensure you remain objective.

Things that you have a hard time parting with, but which will inevitably be stored in a garage, storage facility, or shed after the move should be packed in stackable containers that are rodent and dust proof.

Take Care of your Food

Be prepared to order take-out food or eat out on the first couple of nights in your new home. Chances are you'll feel too tired to cook, but even if you do feel like cooking, most of your kitchen appliances will probably still be packed away.

Make sure you use up your frozen foods or dispose of ones you have not used. Never let them thaw and try to refreeze them. Not only will there be less to transport, but you will also avoid the risk of food spoilage and sickness.

Enjoy your Old Home, New Home, and Even Moving Day!

You'll be able to browse through some wonderful memories in years to come by making a video or album of your old home. Don't forget to include your neighbors and friends.

You'll have more time to enjoy settling into your new home if you clean your belongings before they are moved.

Fun music will create a positive mood when it's time to start packing and unpacking. Turning the TV on may be too distracting.

Do Right by the Buyers

It is important to make it quite clear to prospective buyers/tenants exactly what is included with the property. Are any appliances included? What about window treatments, rugs, etc.?

Remember to leave the home clean and trash-free!

You should always shut and lock all windows and doors as you leave your old home on moving day.

 

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PREPARE TO MOVE

6-8 Weeks before your move

• Organization is the key for a smooth move and this is the time to start working on the details of your move.

• Check with the movers to ensure your move is scheduled.

• This is the time to decide what items you wish to transport to your new home and what you may want to dispose of. If you decide to dispose of items that you don’t need you should either donate them to a charity or consider having a garage sale. Contact a local charity or pick a date at least two weeks before the moving date for the garage sale. Advertise the garage sale locally. Team up with your neighbors who want to sell some of their old belongings and plan a large neighborhood "sale".

• Start accumulating the moving and packing supplies that you need if you plan to do your own packing or partial packing. You can purchase moving boxes or packing supplies at your local box supply stores, moving companies or even online. All boxes that you purchase from a van line agent or a moving supply company are specially designed for the moving industry to prevent any damages to your belongings. Getting boxes from other sources may create some difficulties when packed in the van. These boxes may be unusually sized and may not be strong enough to
prevent damages to items packed inside.

• Think about your new home layout and start thinking about where you'll place the furniture. Create a floor plan of your new home and this will help reduce the stress of making decisions when your furniture arrives at your new home.

• Get familiar with your new community. Request information from the local Chamber of Commerce on schools, community programs, parks and recreation facilities.

• All travel arrangements (hotel, flights, car rental, etc.) for your family should be made at this time. Try to keep your plan as flexible as possible to accommodate any schedule changes or delays.

• Keep all receipts for moving related expenses in a designated moving folder. Many moving expenses are tax deductible. Obtain an IRS Change of Address form, Form 8822, by calling (800) 829-1040 or visiting the IRS website at www.irs.gov website. You will be able to download and print form 8822 and most other IRS tax forms; e.g., Form 3903 to help deduct moving expenses.

• Finalize all real estate and rental needs.

• Contact your insurance agent to transfer medical, property, fire and auto insurance.

• All medical and dental records should be placed in a safe and accessible place. Be sure to include prescription and vaccination records.

• Plan on taking all important documents, such as wills, stock certificates, and other one of a kind items (jewelry, coin collection, photos etc.) with you. Place the items in one easily identifiable and easy to locate folder.

• Return all the things you have borrowed.

• Notify schools in the old and new location and arrange for the transfer of school records and begin the process of registering in new schools.

4-5 Weeks before move

• Contact or visit your local Post Office to obtain a Change of Address form. You can also obtain this form online at the postal service website by visiting www.usps.com

You can make copies of this change of address form or make up your own change of address notice to give to the following people and businesses.

  • Friends and family
  • Banks
  • Insurance companies
  • Credit card companies
  • Doctors, dentists and any other service providers
  • Clubs or Associations
  • Magazine and Newspaper subscriptions

• This is a good time to take a look at what you own, and decide what must go and what can be left behind.
All items such as old books, magazines, broken items and old toys can be left behind. Remember, adding more weight to your shipment will cost you more money.

• Organize your move by deciding and making lists of what items you will not transport, what items your van line agent will move and what items you will move yourself.

• Make a decision on who will do most of or all of the packing. It is a good idea that you let the van line agent do most of the packing. The van line agents know the best methods for keeping items safe and secure as this is what they do for a living.

• If you do most of the packing or all the packing please refer to our packing guide. Ask the van line agent you
use for further details about handling unusual and delicate items and begin preparing those items that are not
frequently used.

• Get your kids involved in the moving process. Allow your kids to do some supervised packing. Let them
suggest a layout for their new room. Make it fun and exciting for them to move.

• Contact utility providers (e.g. telephone, gas, electric, cable TV and trash collection) at new and old locations with your moving date to make arrangements for connection and disconnection.
A Savannah area Utility and Service providers list is attached.

• Complete banking arrangements in old and new location and transfer any funds to your new bank if necessary.

• Check requirements for new drivers license and auto registration in your destination state.

3 Weeks before move

• Notify your van line agent if there are any changes in the dates of your move. If you will need any additional
accessorial services such as piano moving, packing and unpacking, or storage you should inform the van line
agent for pricing information. Also inform the van line agent if you add or subtract items from your planned shipment.

• Decide how much packing you will handle yourself. You should inform the van line agent of any items that you decided for him/her to pack.

• Whether you move your car with the van line agent or a car carrier, you should make your final reservation
for a car pick up at this time.

• Consider giving your plants to friends or a charity if you are moving from one state to another. Some state laws prohibit the moving of houseplants.

• Make transportation arrangements for your pets. Take your pets to your veterinarian to ensure proper up to
date health certificates and rabies inoculations. Some states will require these documents.

• You will need to carry all valuable jewelry with you. If you have any valuables around the house, be sure to
collect them before leaving.

• Return any borrowed items such as library books. Also collect all items that are being repaired stored or
cleaned (clothing, furs, shoes etc.).

• If you are moving to a building with an elevator make sure the elevator will be available on your intended
day and time of arrival at your destination.

2 Weeks before move

• Transfer all prescriptions to a drugstore in your new city. Clear all your safety deposit boxes.

• Disconnect and disassemble your computer system before your move. Back up all your computer files
on a disk. Consider taking all back up files and disks with you in the car or whatever mode of transportation
you will be using to get to your new home. Remember, exposure to extreme temperatures can damage your
software.

• Make final packing decisions. Clean and clear your home including closets, basement and attic.

• Dispose of items that represent a hazard and are not allowed to be shipped. Please refer to the
“items not to pack” section for more information on what you cannot or should not ship.

• Tape and seal all cleaning fluids that are non-toxic and non-flammable in plastic bags.

• Drain your lawn mower, snow blower and power tools of all the oil and gasoline to ensure safe transportation.

• Schedule appliance disconnection and preparation with a service provider.

• If you need to use outside storage call your van line agent about storage options available.

• Have your automobile serviced if you plan to travel by car.

• Cancel newspapers and other regular deliveries. Clean out gym and school lockers

1 Week before move

• Make sure to separate out which items you'll take with you and which items the movers will take.
Items you may wish to take with you could be jewelry and important documentation.

• Make sure you haven't overlooked anything in the house including minor repairs

• Mark the boxes to be shipped with the words, "Fragile", "Do Not Load" and "Load Last" stickers.

• Empty, defrost and clean your refrigerator, freezer and clean your stove all at least 24 hours before
moving to let them air out. Try using baking soda to get rid of any odors. You can also leave a container of
baking soda in the refrigerator.

• Mow your lawn one last time before you move.

• Prepare items you will need while your goods are in transit. Pack your suitcases and confirm travel
arrangements for you and your family. Try to keep plans as flexible as possible in the event of unexpected
delays or schedule changes.

• Make sure your agent knows the address and phone number of your new home. You should also provide
an address and phone number of where you can be reached until you will get to your new home.

• Arrange for payment to the van line agent. Contact your van line agent to inquire about methods of payment
accepted. Generally this will be cash on delivery (COD).

• Verify your insurance you have chosen with your van line agent. Refer to our “Insurance and Liability”
guide for more information.

• Pick up any dry cleaning and laundry.

• Settle any outstanding bills with local merchants.

• Return videos and library books.

• Prepare your “first night back” and “ready box”. Your first night box should contain the clothing and
toiletries you will need for the first night in your new home. See “first night bag guide”.

• Disconnect and clean any appliances that will be moving with you and those that will remain.

• Gather keys, alarm codes, garage door openers and be prepared to hand them over to the new
owner or real estate agent.

• If your old home will be unoccupied for a period of time after you move, notify the police.

Moving Day!

Move out day and Move in day

• "Work" with the movers and be on hand when the movers arrive. If you are not able to be present while
the movers are there, designate a friend or family member to help out and make decisions in your absence.
Let the van line agent know to whom you have given the authority. Be sure that your chosen representative
knows exactly what to do and which valuation liability program and amount you have selected. This person
may be asked to sign documents obligating you to charges.

• Hand over keys, alarm codes and garage door remote controls to the new owner or real estate agent.

• Provide the new phone number and all other phone numbers where you can be reached while shipment is in transit. Make sure to take along the destination agent's name, address and telephone number.

• Provide the driver with clear directions to your new home

• Review all paper work and details when the van operator arrives. Accompany the driver as he or
she inspects each piece of furniture with tags of identifying number. These numbers along with a
detailed description of your goods at the time of loading will appear on the inventory.

• Stay home until the last item is packed. Make a final inspection before the van operator leaves.
Check the mover’s inventory and make sure you agree with any notations about the condition of your furnishings. Take pictures if necessary. It is your responsibility to see all of your goods are loaded. Leave your phone connected throughout moving day. After the movers leave, pack your phone in one of your suitcases for easy access when you arrive to your new home.

• Clean your house as much as you can before the moving van arrives. Search every room, closet and around the house before the moving van arrives.

• The driver will contact you or the destination agent at least 24 hours prior to expected arrival time.
This allows enough time to locate you and begin preparation for unloading. It is your responsibility to
contact the destination agent if you cannot be reached.

• Review your new floor plan so you can tell the movers where to place your furniture and appliances.
Make yourself available for the movers for instructions on where to place your furniture while unloading.
Stay there in case there are any questions.

• Review your floor plan so you can tell the movers where to place your furniture and appliances.
Make yourself available for the movers for instructions on where to place your furniture while unloading.
Stay there in case there are any questions.

• If you cannot be at your home while the van is being unloaded be sure to authorize a representative to
accept delivery and pay the charges for you. Inform the destination agent of your representative’s name.
Your representative will be asked to note any change in the condition of your goods noted on the inventory
at the time of loading, and to note any missing items at the time of delivery.

• By signing the inventory sheet, you are acknowledging the receipt of all items listed. Document any
loss or damage on the inventory sheet and report this to the van line agent at destination, immediately.
Make sure you have your reference number when calling the van line agent for questions or concerns.
You will also be asked to sign the bill of lading and pack/unpack certificate.

• Get a baby sitter for your kids during the loading and unloading process.

• Put your pets in a room where they will not be in the way of the loading and unloading process.

• If you wish to have your goods unpacked you need to order this service in advance. Limited unpacking
and removal of cartons may be requested on move in day.

• Do not use your stereos, computers, televisions, other electronic devices and appliances for 24 hours
after delivery to prevent possible damage. Allow them to adjust to room temperature.

• Payment is required upon delivery in cash, traveler’s checks, money order or cashier’s check.
Personal checks are not accepted. Unless other arrangements were made in advance you are required
by federal regulation to pay upon delivery for interstate moves.

• Verify that all utilities have been disconnected in your old home and connected in your new home.
Have your phone connected a day before move-in day.

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After Moving

Settling In

• Locate your local post office, police station, fire station and hospitals as well as gas stations near your home.

• Become familiar with your neighborhood shopping areas. You may need housewares, tools or other items
for your new home unexpectedly.

• Call the department of sanitation in your new home to find out which day the trash is collected and what type of recycling programs are available in your community.

• Get new service providers such as a bank, pharmacist, cleaner, cable television etc if you have not already done so.

• Contact your local DMV if you have moved to a different state to exchange your driver’s license and register your vehicle.

• Provide your new doctor and dentist with your medical history.

• Transfer insurance policies to your new agent. You may also wish to make a detailed list of your belongings, their value, and your coverage.

• Get information on schools, libraries, community activities and emergency calling service from your local
Chamber of Commerce.

• Obtain local library cards.

• Register to vote in your new city.

• Decide which documents must be kept and determine for how long. File and keep them in a safe place.



More Moving Tips to Keep in Mind:

  • Notify your telephone, electric, gas, water, and credit card Companies.
  • Forward necessary mail to your new address. Discontinue service on a specific date.
  • Notify former employers. This will make tax time less taxing.
  • Be there and give direction. Let them know what you want loaded first and loaded last.
  • Get a copy of your inventory sheet from the foreman. Double check his notations about existing
    damage to your goods.
  • Have your insurance plan readily available. Hopefully you will have no use of this tip.
  • Devise a system. You should label your boxes with their destination in your new home.
    Hang numbered signs on the doorposts of each room and write the same numbers on the
    appropriate boxes. (Example: "2nd Fl./Room 4") If you're handy with a pencil, sketch a sample
    layout of your house, number the rooms on it, and post the layout on the truck for reference.
  • Load the rooms to be unloaded first—last. Whatever room is furthest from the entrance in your
    new home should be that room. In other words, unload back to front. The kitchen should be
    done at the very end though, because heavy appliances should go in the truck first.
  • Don't forget to have your tools ready when you start unloading. You should put your tool box in
    when everything else is loaded in the truck.

    Keep the following supplies handy for packing:
    • Boxes,
    • marking pen,
    • bubble wrap,
    • newspaper and tissue
    • Tape and scissors
    • Tape measure
  • Use strong boxes and containers that can be secured tightly. Purchase special boxes for dishes, wardrobe and other special items.
  • Pack audio-video equipment in their original boxes. Label cables and tighten transit screws. If removing screws, tape them to the objects they are removed from.
  • Avoid loading more than 50 pounds into one box.
  • Label each box and indicate the following:
    • (a) Which room it should go in
    • (b) Whether it is fragile
    • (c) If it should be loaded last so it will be unloaded first.
  • Cushion contents with packing material such as bubble wrap, newspaper or tissue. Save room by using towels and blankets to wrap fragile items.
  • Pack books tightly on end in small boxes. If musty smelling, sprinkle talcum powder between the pages and wrap the book before packing. Leave stored for a couple of months to eliminate the smell.
  • Have rugs and draperies cleaned before moving and leave them in wrappings for the move.
  • Pack medicines in a leak proof container.
  • Carry all valuables with you.

Tax Deductions

Did you know that some of the expenses of moving are tax deductible? If you'd like to get any of the following expenses claimed against your tax, read on and see if you qualify.

  • Cost of transportation or hauling from old to new residence.
  • Cost of packing, crating and unpacking.
  • Cost of shipping your car.
  • Cost of moving the pets.
  • Cost of the trip to the new residence which includes lodging but not meals

Take into account that these deductions must not be excessive amounts, and the real questions is,
do they qualify for the deductions? All taxpayers are eligible, even if they don’t file itemized returns,

As long as you are:

  • Moving to a new residence for the purpose of employment, whether it be as an employee or self-employed.
  • Moving to a new job, at least 50 miles farther from your new residence than your old job location.
  • A full-time employee and employed within the vicinity for at least 39 weeks of the first 12 months of occupancy.
  • A self-employed individual, who will work in the new location for at least 78 weeks during the first 24 months following the move, of which 39 weeks must be within the first 12 months.
  • Moving to a foreign country, or for military service (These options fall under special limitations, so it's best to consult a professional tax advisor before claiming them).

    Preparation And An Inventory Averts Trouble

    • Take down ceiling fans prior to moving day. Movers will charge you for the cost of an electrician to do it.
    • Purchase enough insurance to over damage to especially valuable items, or transport them yourself separately. Movers may not pay for damage to items you pack yourself.
    • Hire a piano specialist to prepare your piano for the move. Service to a piano will add a hefty additional charge to your bill if the mover does it, and there's a greater chance of damage.
    • If you have many books, pack them yourself and mail them book rate to save significantly on the cost of your move.
    • Grandfather clocks should be dissembled by a clock specialist prior to moving day.
    • Ask the mover to inventory your items and check the inventory carefully to be sure everything is included.
    • Check polished table tops and antiques for any existing damage (nicks and scratches) and note its exact location.
    • Note down the location of all existing damage (worn areas, pulls) to fabric on furnishings.
    • Disconnect the water to the washing machine and refrigerator and gas to the dryer and range prior to moving day to avoid a surcharge.
    • Confirm on the inventory that all goods with moveable parts are fully operational prior to the move.

Donate to Your Favorite Charity
Itemize the items and keep a receipt. It may help you qualify for a tax deduction.

   
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Copyright 2007 | Jacqueline Mason | Savannah, Georgia | site by jnetwebdesign

 

Savannah, Georgia is one of the most beautiful, historic cities in the United States. It took me only one weekend to fall in love with Savannah. Real estate, from a home to a business, can date back to the eighteenth century and you can spend a day walking the downtown historic district and fall in love! With Savannah! Vacant land, investment property, summer cottage, new construction, waterfront property or home, business property, and more....anything you desire can be found in and around Savannah. After moving here, I became a realtor. I love people, homes, history, and warm weather. Savannah, Georgia combined with real estate has provided me everything I was looking for. In Savannah, I live in the downtown Historic Distict, yet I am only a few minutes away from Tybee Island and the beautiful Atlantic Ocean beaches! Sand, sunshine and year-round nice weather. What more could you ask for? Plan to visit Savannah. See the lovely historic buildings, and if you fall in love, as I did, give me a call. I will be happy to show you around and show you any and all real estate available for sale! Thanks for visiting my site!