When selling your home—particularly if you are selling on your own—it’s a good idea to be represented by an attorney. Look for 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 will be present at the actual closing to protect your interests and can assist you with the following elements of a sales contract:

• The sale price
• What is included in the sale price -- draperies, carpeting, light fixtures, heating oil, etc.
• The amount of the down payment
• The date of settlement and possession date
• Contingencies to the sale--inspections (e.g. structural, lead-based paint, radon), required improvements, legal review of the contract by the buyer's or seller's attorney, etc.
• The amount and length of the mortgage loan, interest rate and time limits to secure the loan
• Determining which closing costs are to be paid by the buyer and which by the seller

Selling a that may affect taxes resulting from the sale of your home. For example: home can have a major impact on your federal and state tax returns. Check with your tax consultant on the factors

• Whether you purchased the home or acquired it by gift or inheritance
• Whether you used your home partly for business or rental
• Costs associated with selling your home
• Home improvements or additions, which may help to offset capital gains
• The sale of your home. In certain cases you can exclude up to $250,000 in gain ($500,000 for married couples filing a joint return) on the sale of property that was your principle residence for at least two years. Generally, you can use this exclusion every two years.