Have real estate questions? Here, you’ll find helpful articles and other resources that cover issues related to real estate, buying, selling, financing, refinancing, credit and debt, insurance, second homes, vacation homes, real estate investment, new construction, and renovation.
Real Estate Agent: Great Local Agent Key To Great Property Deal
A great local real estate agent is the key to getting a great deal on property. Ilyce notes that in order to get the great deal on property this person is looking for, they need to find a real estate agent that works the area on a daily basis. A great local real estate agent will tell the buyer what kind of deals are available and the best pieces of property available.
Understanding Buyers’ Agent Fees
When a buyer's agent signs an agency disclosure agreement with a buyer, it's a legal document in which the agent essentially promises to be your fiduciary in the transaction. In other words, the buyer's agent is required by law to have the buyer's interests at heart. As for the agent's commission being paid, it technically comes from the seller.
Home Inheritance Requires Home Repair
When doing estate planning you may want to consider who will get your real estate and whether those heirs can afford to maintain the real estate. If multiple family members inherit a home together how can they ensure that home repairs get made and that everyone pays their fair share? This is also an issue for property taxes when there's a home inheritance.
Never Too Old For Real Estate Investments
Is it too late to start investing in real estate property? To be successful with investment property you must be willing to take the good with the bad when it comes to managing tenants. Ilyce reminds the reader that 50 is the new 30 if you are cut out for the landlord business.
Reserve Cash With Interest Only Loans
A home buyer is considering an interest-only loan. Interest-only loans are best if you are trying to conserve cash. You can use the cash for a home improvement project, if you're not going to be in the home for a long period of time, or if it's an investment property. However, you should not use an interest-only loan to purchase more property than you can afford.
Selling Investment Property Bought Pre-Construction
Can you sell investment property that you bought at pre-construction prices, before actually buying the property. Ilyce advises the reader that you can flip your investment by selling it to another person even though you bought it at pre-construction prices. When you sell the pre-construction investment property, the new buyer pays a fee to have the original purchase contract assigned to him or her.
Happy New Year
We had a quiet New Year's celebration with our next door neighbors last night. Of course, we talked about New Year's Resolutions. One of my resolutio...
Calculating profit from sale of home with home equity loan
How do you calculate the profit from the sale of a home, if the owner has a home equity loan? The amount of a home equity loan does not change homeowner's profit on the sale, but it does affect how much actual money the homeowner would receive from the sale. The way to figure out the profit on the sale of the home is to take the sales price and subtract the costs of sale (commission, transfer taxes, title etc) and the costs of purchase. A portion of the homeowner's profit may also be tax-free depending on the number of years the owner has owned and lived in the home.
Mortgage Refinancing Denied After Reviewing Tax Returns
Sometimes you may have a great credit score but still get denied for mortgage refinancing after the lender reviews your tax returns. If you are an entrepreneur, some banks may not be comfortable with refinancing the mortgage loan because your tax returns have large deductions. Ilyce suggests finding a lender that is more accustomed to working with entrepreneurs, as they might be more comfortable refinancing your mortgage.