Check Your Mortgage Payoff and Tax Consequences

Make a call to your lender to check the pay-off amount of your current house mortgage. Many people are unpleasantly surprised when they arrive at closing and find their net proceeds are much lower than they estimated. Making sure of your current mortgage balance, ensuring there are no pre-payment penalties is essential in the sale of your house.

It is also a good time to check on any tax ramifications the sale of your house might have to you with your accountant or tax attorney. If you have been in your house for sometime, and/or have large equity built up, you may need to discuss your situation with your tax advisor to ensure you understand the tax implications of your sale.