Once you close on your home sale, you can walk away and celebrate, right? Well, not exactly! After you sell your house, you certainly should celebrate, but you have more things to think about, from tax prep to buying your next house. In “House Selling for Dummies,” authors Eric Tyson and Ray Brown lay out things you can do to save money and increase your peace of mind, post-sale.

You’re going to need to do something with any proceeds you have left from the sale. Plus there are tax implications to consider, and if you haven’t already, you need to think about where you’re going to live long term.

Here are some tips from Tyson and Brown that can help guide you.

1. Keep copies of all paperwork related to the closing and settlement

Although it might be tempting to shred the paperwork or put it in storage, you’ll want to have it handy for April 15. When you file your taxes, you’ll need documentation for the expenses and proceeds of the sale. And after you file your return, you’ll want to keep the paperwork in case you’re audited.

2. Keep proof of improvements and prior purchases

This is for tax purposes, too. The IRS allows you to add the cost of improvements to your home’s cost basis during the time you own the home, which is nice if you have a sizable capital gain. But to use this tax provision, you need to keep receipts for everything you spent on home improvement.

3. Stay on top of tax laws after you sell

Because tax laws constantly change, you’ll want to keep current to avoid losing money. For example, a recent law allows you to exclude from tax a significant portion of the profits from the sale of your primary residence.

4. Put your proceeds in a money market fund

If you sell and then don’t immediately buy, you’ll need a safe place to put your money. A money market mutual fund offers safety, a reasonable rate of return, daily access to your money and check-writing privileges.

5. Choose your next home carefully

Scope out a variety of areas and housing options that meet your family’s needs.

6. Don’t feel pressured to buy

Take your time purchasing your next home; rent for awhile if you’d like extra time or want to try an area out first before buying. 

7. Reevaluate your personal finances

If your situation changes before you buy another house – you get a promotion, have a baby, go through a divorce – you’ll need to rethink your finances and how much you can afford to pay for your new house.

8. Think about what you need from an agent to help you buy

Carefully consider whether the agent who helped sell your house can meet your needs when you’re buying. Buying and selling require different skills. And, if you’re moving to a new area, you may want someone familiar with the area.

9. Think through your next down payment

Brown and Tyson recommend putting at least 20 percent down on your next house in order to qualify for the best mortgage programs. If you can afford more than 20 percent, consider whether it’s better to put that money in the down payment or to invest the money elsewhere.

“Younger home buyers willing to take on more investment risk should lean toward a 20-percent down payment, whereas older home buyers, who tend to invest less aggressively, should opt for larger down payments,” the pair recommends.

10. Remember to send change-of-address notices

The U.S. Postal Service recommends you complete your change of address 30 days before you move.

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If you’re getting ready to sell your home, finding a listing agent should be at the top of your to-do list. But just what is a listing agent? You might have a vague mental image of someone who plants a “For Sale” sign on your front lawn and shows potential buyers around your place, but there’s plenty more to it.

Here’s a primer on what a listing agent does, how the agent makes or breaks your sale.

How listing agents help you price your home

The stakes are high: Price your home too low, and you could lose out on a lot of money. Price it too high, however, and the picture isn’t pretty either. While it may be tempting to work with an agent who says he can fetch a fortune for your home, overpricing may mean your home languishes on the market for months or even years—making buyers wonder if something’s wrong with your home and lowball you anyway.

“Listing agents have many duties and responsibilities, but at the top of the list is to properly price your home,” 

To do this, a listing agent will analyze the sales prices of comparable homes, or “comps,” in your area to see where yours should fit in, and advise you accordingly.

How listing agents help you sell your home

After you determine an asking price, a listing agent should provide you with a comprehensive marketing plan detailing how she’ll get your property sold. This plan should include the following:

• Recommendations for home improvements or home staging, if necessary. Yes, these alterations will cost you time and money, but they will improve your chances of a faster sale and higher asking price.
• Taking photos or hiring a photographer who will be able to highlight your home’s best features.
• Adding your home to the multiple listing service, where home buyers and their agents can view your property and decide if they’d like to come visit for a closer look.
• Advertising and holding open houses.
• Coordinating showings with prospective buyers.

How listings agents negotiate with buyers

Once you get an offer on your home, it’s the listing agent’s job to present it to you and advise if any haggling needs to be done. For instance, if you get an offer way below asking price, your knee-jerk reaction may be to refuse in a huff. But a listing agent might be able to negotiate with the buyers and bring that price up to a decent level—or, if the buyers truly can’t budge much, find other ways to sweeten the deal like a faster closing date or waived contingencies. These compromises can actually save you tens of thousands of dollars.

How to choose a listing agent

If you’re looking for a listing agent in the Central Florida area, look no further than our agents here at Remax Heritage Bardell Real Estate Company, where you’ll find such details as their years of experience, number of homes sold, clients’ reviews, and more. Don’t just move forward with the first agent you meet. Choose at least a few and ask them some questions to assess whether they’re right for you.

Here are some questions to ask a prospective listing agent:

• How many homes have you sold in this area, and how long did it take?
• In what price range do you sell most of your homes?
• Do you have advice for me about the condition of my home, and what could be improved to glean a higher sales price?
• What is your marketing plan?
• Can you recommend contractors, photographers, moving companies, etc.?
• Are you a member of the National Association of Realtors®? (Realtors must abide by the group’s code of ethics.)
• Is this your full-time job? (A part-time agent is not a problem, but you will want to gauge her availability during off-hours.)
• How often will you touch base with me?
• Are you planning any vacations, and if so, who will back you up?

How much listing agents get paid

Listing agents don’t receive a dime unless your home gets sold. If it does, the typical agent commission is 6% of the price of your home (which is typically split between the listing agent and the buyer’s agent). This price may seem substantial, but consider this: For every hour an agent spends with you, he will spend an average of nine hours behind the scenes working on your behalf. In other words, listings agents work hard to earn that commission and get your home sold.