Greater Philadelphia & South Jersey Home Seller FAQ

Your home's value depends on recent comparable sales, its condition, updates, location, and current buyer demand. Online estimate tools can be a helpful starting point, but they don't account for renovations, condition, or hyperlocal market trends the way a Comparative Market Analysis prepared by a local real estate professional does.

At Curated Living, we'll provide a customized valuation based on recent sales, current competition, and buyer demand specific to your neighborhood so you have a realistic understanding of your home's market value.

The right approach depends on your financial flexibility, timing, and comfort level with risk.

Selling first gives you a clear understanding of your budget and avoids carrying two mortgages, but it may require temporary housing while you search for your next home.

Buying first offers more convenience but may require significant cash reserves, bridge financing, or a home sale contingency.

We'll help you evaluate your options and create a plan that best fits your goals.

Most homeowners still have an outstanding mortgage when they sell. At closing, your mortgage is paid off directly from the proceeds of the sale before you receive your remaining funds.

We'll prepare an estimated net sheet early in the process so you understand what to expect after paying off your mortgage, commissions, transfer taxes, and other closing costs.

If the home has been your primary residence for at least two of the last five years, you may qualify to exclude up to $250,000 in capital gains if you're single, or up to $500,000 if you're married filing jointly.

Different rules apply to investment properties, second homes, inherited properties, or homes owned for a shorter period of time. We always recommend discussing your specific tax situation with a qualified CPA or tax professional, and we're happy to recommend one if needed.

Selling costs typically include real estate commission, transfer taxes, title fees, mortgage payoff fees (if applicable), attorney fees in certain transactions, and any seller concessions negotiated during the sale.

The total cost varies based on your property's location, sale price, and the specific terms of your transaction, but many sellers should plan for costs of approximately 6% to 10% of the sale price.

Selling your home in New Jersey this year? There's a change worth knowing about. New Jersey's "Mansion Tax" used to be paid by buyers — but as of July 2025, that responsibility shifted to sellers. If your home is selling for $1 million or more, you'll now owe this tax at closing, and the rate climbs the higher your sale price goes (starting at 1% and increasing from there).

Before your home goes on the market, we'll prepare a detailed seller net sheet outlining your estimated proceeds so you'll have a clear understanding of your expected costs and bottom line.

Not always. While some repairs can increase your home's value or improve buyer interest, others may have little impact on what buyers are willing to pay.

Simple improvements like fresh paint, decluttering, landscaping, updated lighting, and minor repairs often provide the greatest return on investment. On the other hand, sellers are often surprised to learn that expensive renovation projects don't always increase a home's value enough to justify the cost.

For eligible sellers, Compass Concierge can cover the upfront cost of improvements such as painting, flooring, landscaping, staging, and repairs with no interest or hidden fees. The balance is simply repaid at closing.

We'll help you determine which improvements make financial sense for your home and which ones can be skipped.

In many cases, yes. Staging helps buyers visualize the space and creates a stronger first impression both online and in person.
Staging doesn't always require renting furniture. Sometimes simply decluttering, depersonalizing, rearranging furniture, and adding a few finishing touches can dramatically improve how a home shows.

Professionally staged homes often sell more quickly and can attract stronger offers because buyers are better able to picture themselves living in the home. We'll recommend the level of staging that makes the most sense for your property and budget.

"Staged homes sell faster. 49% of sellers' agents report reduced time on market when a home is staged." — National Association of Realtors, 2025

Yes. Both Pennsylvania and New Jersey require sellers to complete a property disclosure statement identifying known material defects.

Examples include water intrusion, roof leaks, structural concerns, plumbing or electrical issues, environmental hazards, and problems with major systems.

Being transparent from the beginning helps build buyer confidence, reduces surprises during inspections, and often minimizes last minute negotiations or requests for seller concessions.
We'll guide you through completing the disclosure thoroughly and accurately.

Every home and every market is different. Pricing, condition, location, and buyer demand all influence how quickly a home sells.

Well priced homes that are properly prepared and professionally marketed typically attract more interest than homes priced above market value.

Once an offer is accepted, most financed transactions close within 30 to 45 days, while cash sales often close sooner.

We'll provide a realistic timeline based on your home, neighborhood, and current market conditions.

The list price is the price at which your home is marketed.

The sale price is the amount a buyer ultimately agrees to pay after negotiations.

Depending on market conditions, homes may sell above, at, or below their list price. A thoughtful pricing strategy from the beginning often generates more interest, stronger offers, and a better overall outcome.

If your home isn't attracting showings or offers, it's usually an indication that buyers are reacting to the pricing, presentation, marketing, condition, or a combination of those factors.

We'll continually monitor market activity, buyer feedback, and showing trends throughout your listing. If adjustments are needed, we'll review the data together and develop a strategy that keeps your home competitive.

Once an offer is accepted, the buyer typically completes inspections, secures financing, and works with the title company to prepare for closing.

Depending on the contract, there may also be an appraisal, repair negotiations, and a final walkthrough before settlement.

We'll coordinate every step, communicate regularly with everyone involved, and keep your transaction moving forward as smoothly as possible.

At closing, your mortgage (if applicable), commissions, transfer taxes, title fees, and any other closing costs are paid from the proceeds of the sale.

Once the transaction has been completed and funds have been disbursed, you'll receive your net proceeds, typically by wire transfer.

We'll provide an estimated net sheet before your home is listed and update it throughout the transaction so there are no surprises at closing.

Sometimes. If you need additional time after closing to move, it's possible to negotiate a post settlement possession agreement, sometimes referred to as a "rent back."

These agreements are negotiated as part of the purchase contract and allow you to remain in the home for an agreed upon period after closing. Not every buyer is willing or able to accommodate this, but when appropriate, we'll help negotiate terms that work for everyone involved.

Real estate markets are constantly changing based on inventory, interest rates, buyer demand, and seasonal trends.

Just as importantly, market conditions can vary dramatically from one neighborhood to the next. What's happening in Chestnut Hill may be very different from Doylestown, Ambler, Wayne, Media, Newtown, Moorestown, Haddonfield, or Collingswood.

Rather than relying on national headlines, we focus on hyperlocal market data to provide accurate guidance for your neighborhood, your price point, and your home.

Transfer taxes vary depending on where your property is located.

In Philadelphia, the combined Realty Transfer Tax is 4.578% of the purchase price, and in most transactions it is split equally between the buyer and seller.

Throughout the Greater Philadelphia suburbs, transfer taxes vary by municipality, county, and school district. In many Pennsylvania communities, the combined transfer tax is approximately 2%, although some municipalities impose an additional local transfer tax.

In New Jersey, sellers are generally responsible for the state's Realty Transfer Fee. Buyers purchasing homes for $1 million or more are typically responsible for New Jersey's Mansion Tax, unless negotiated otherwise.

Before listing your home, we'll explain the transfer taxes that apply to your property and include them in your seller net sheet so you know exactly what to expect.

Yes. While the overall selling process is similar, every municipality has its own requirements.

Depending on where your property is located, you may need a use and occupancy certificate, resale inspection, municipal certification, or other local approvals before closing. Transfer taxes, township requirements, and buyer expectations can also vary from one community to another.

Whether you're selling in Philadelphia, Bucks County, Montgomery County, Chester County, Delaware County, or South Jersey, we'll guide you through the local requirements specific to your property and help ensure everything is completed before closing.

School district boundaries are one of many factors that can influence home values and buyer demand. Homes located within highly sought after school districts often attract strong buyer interest, although pricing is also affected by location, condition, inventory, and current market conditions.

If your home is located in a desirable school district, it may be an important selling feature for some buyers. However, it's just one piece of the overall picture. Our pricing recommendations are always based on comparable sales, current buyer demand, and the unique characteristics of your home.

Because school district boundaries and attendance zones can change, buyers should always verify school assignments directly with the appropriate school district.

Philadelphia's Wage Tax applies to income earned by city residents and by non residents who work within Philadelphia.

Although it isn't a property tax, it's an important cost to consider when comparing the overall cost of living in Philadelphia with the surrounding suburbs or South Jersey. We're happy to discuss how it may factor into your move.