Property is anything you own, whether it’s land, a house, electronics, a car, or collectibles. Learn more here about buying and selling property, taxes, and protecting your assets.
Refinancing Condomimium Soon After Purchase
A new condominium owner wonders if it is too soon to refinance. Ilyce states that it is never too soon to refinance, after purchase. The important thing is to figure out how much the refinance is going to cost you out of pocket and how long it will take you to recoup those expenses.
Finding A Loan For Land Purchase
Buying land to build a home on requires a different kind of financing. A mortgage broker who deals in construction property is one way to look into financing. Another option is to find a lender in the area who is familiar with financing land purchases.
Gift Taxes Associated With Real Estate Inheritance
What are the gift taxes associated with real estate inheritance? The person who is giving the land should think about the gift taxes that may be incurred if the real estate is given as an inheritance. Ilyce suggests a conversation about the current owner's wishes and a meeting with an estate attorney before accepting a real estate inheritance and the gift taxes associated with it.
Environmental Property Reports Show Potential Problems
An environmental property report plots a property address of interest at the center of a local map and indicates where potential problems are. For any site that turns up within a one mile radius of the property address, ERIIScan provides a text report with the name and address of the site, the type of database in which it is registered and the distance from the property.