Short answer
Start with your timeline and your numbers: what the house would net after payoff, transfer tax and any commission, and what the next home or rental will cost. Listing with an agent usually nets more for a house in good shape. A cash sale makes sense when you need speed or do not want to repair and stage.
Know what you will net
Build the number before you decide anything. Start with a realistic sale price from a local agent's opinion. Subtract your mortgage payoff, transfer tax, any commission, repairs or credits and moving costs. Pennsylvania's state transfer tax is 1 percent and a local tax of 1 percent usually applies, with Philadelphia at 4.578 percent combined.
That is the cash you will have to buy or rent your next place.
Add a cushion for surprises. Old houses hide repairs, and buyers' inspections find them. A buffer keeps a late request from changing your plans.
The tax exclusion
The IRS says you may exclude up to 250,000 dollars of gain, or 500,000 dollars on a joint return, if you owned and lived in the home for at least two of the last five years and have not excluded gain on another home in the last two years. Many long-time owners qualify, though gains above the limit may be taxable.
Keep records of improvements. A tax professional can confirm how the rules apply to you.
If your gain is large, ask a tax professional about the timing of the sale and your filing status. A good plan early is cheaper than a correction later.
Sell first or buy first
Selling first gives you cash and certainty but may leave you looking for a place in a hurry. Buying first gives you time but means carrying two homes. A cash buyer who closes on your date can let you line up the move. Some sellers ask for a long closing; whether a buyer agrees depends on the buyer.
Decide how much you can carry, and for how long, before you start.
If you rent first, you gain flexibility and give up the chance to lock in a home you love. If you buy first, you gain certainty on the next place. Neither is wrong.
The stuff
Downsizing is mostly about belongings. Give yourself time to sort, sell, donate and keep. Start in the rooms you use least. Photograph items you want to remember, and set aside papers, deeds and heirlooms before clearing.
If you will sell as-is to a buyer, ask if the house must be emptied. Do not assume.
Honest comparison
A well-kept house listed with an agent often nets more than a cash sale, but it needs prep, showings and months of patience. Kaizen Home Buyers buys as-is, makes a cash offer within 24 hours, charges no agent commission and can close on your date. Get both numbers, then choose. Call 267-329-0084.
If you plan to move to a community with an entrance fee or waiting list, ask when your unit will be ready. Your sale date should follow that date, not the other way around.