Before selling your home
Here are the main steps in selling your home:
1. Have the property appraised
- The first step is to have your home appraised by an expert. The appraisal value of your home will depend on factors like how old it is, what condition it's in, where it's located, and what's in the immediate vicinity.
2. Find a buyer
- Once your home has been appraised, you can contact a real estate agent who will find a buyer (for a commission).
- Or you can place an ad on a property listing website. At BCV, we’ve teamed up with other Swiss cantonal banks to create a free website: www.newhome.ch.
3. Obtain a bridge loan
- If your current home is still on the market but you've already found the new home of your dreams, a bridge loan may be the answer. A bridge loan lets you make an offer on a new home before your old one is sold.
4. Decide what to do with your mortgage loan
- If you want to sell your home before your mortgage loan expires, we will help you decide which option is best for you:
- Cancel the loan early
- Transfer your mortgage to the buyer
- Transfer the loan to another property
5. Assess the tax consequences
- If you sell your home for more than you paid for it, you will have to pay taxes on that gain. The property gains tax on a primary residence located in Vaud depends on how many years you lived in the home. Our advisors will work with you to estimate the taxes you will have to pay on the sale.
Before transferring ownership of your home
If you want to transfer ownership of your home to your children while you are still alive, our advisors will help you review the main things you should consider:
- Your children’s ability to pay the mortgage and other expenses
- Financing requirements and rules for transferring the mortgage
- The tax consequences (such as the gift tax)