Seller Blindspots

Seller blind spots

Harry Maisel
@properties | Christie’s International Real Estate

Seller blind spots that can quietly change your net proceeds

When people think about selling, they naturally focus on list price, timing, and presentation. The bigger surprises usually come from quieter details that don’t feel urgent—until you’re under contract.

Below are the details many sellers don’t realize matter until late in the process. They’re the exact kinds of things I build into a calm, concierge-style seller plan so you can protect your timeline and your net.

1) The “live there” clock and capital gains math
If it’s your primary residence, the federal exclusion can be up to $250,000 of gain ($500,000 for married filing jointly) if you meet eligibility rules, including the “2-out-of-5 years” tests.

2) Converting a home into a rental can create a tax surprise later
Once you rent it, depreciation and other factors can change how the sale is taxed, and depreciation-related gain can be taxed up to 25% (plus other taxes may apply).

3) “We’re moving out of state” doesn’t automatically end your state tax exposure
Residency/domicile can be nuanced. Some states look at ties like time spent, exemptions claimed, and intent. If you’re leaving Illinois, it’s worth a quick CPA/attorney check before you close.

4) A 1031 exchange is not a primary-residence tool
1031 applies to real property held for business or investment, not personal-use property like a primary residence. If you’re thinking “sell → buy another property,” you want a pro to verify eligibility early.

5) Sellers forget to build a “tax basis file” before they list
Receipts for capital improvements, past closing statements, permits, surveys—these can affect gain calculations and reduce ugly surprises.

6) Title + survey issues are easiest to solve early (and painful to solve late)
Old liens, missing releases, boundary questions, un-permitted work, easements, encroachments—these are deal-killers that show up at the worst time if you don’t pre-check.

7) HOA/condo docs + special assessments (even in single-family communities)
Resale packets take time. Rental caps, reserves, litigation, and pending projects can change buyer appetite and lender approval.

8) The “net sheet” isn’t just price minus commission
Transfer taxes, attorney fees, title charges, tax prorations, credits, and negotiated repairs can swing the real outcome.

9) Pre-inspection strategy (what to fix vs. what to disclose vs. what to credit)
A smart pre-plan often prevents the panicked “inspection renegotiation” that costs sellers the most.

10) Insurance + occupancy gaps during the move
If you sell, rent back, or have a gap between homes, the coverage details matter more than people think.

11) Timing matters more than people admit
Closing date, possession, school calendars, and “how we’ll live during showings” can impact both price and stress.

12) The stuff realtors forget to ask for early
Warranties, utility ages, mechanical history, roof age docs, permits/contractor invoices, and “what’s excluded vs. included” in writing.

If you’re considering selling in the next 6–12 months and want a second set of eyes, reply with your address and rough timing. I’ll send a simple Seller Pre-Flight Checklist and a clear net-proceeds view so you can make decisions with confidence.

All the best,
Harry Maisel

Harry Maisel

Luxury Real Estate Broker

@properties Christie’s International Real Estate