When you sell your home, particularly if you are selling on your own, it’s a good idea to be represented by an attorney. Choose an attorney with expertise in real estate transactions. When a potential buyer puts an offer in writing and you accept it, the signed acceptance becomes the sales contract. Your attorney should review the contract before you sign, and be present at the closing to protect your interests.

Selling a home can have a major impact on your federal and state tax liability. In most cases, you can exclude up to $250,000 in capital gains ($500,000 for married couples filing a joint return) on the sale of property that was your principal residence for at least two years. Check with a tax advisor for specific information on the tax implications of selling your home.

Congratulations!
You've successfully weathered the logistics of selling your current home, and you're ready to move on to a new and exciting chapter in your life. As you prepare for the coming changes, check out the Life Advice articles Moving and Buying a Home to aid you in this transition.