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.
Refinanced Mortgage: Fees Associated When Homeowner Pays Off Mortgage
When you pay off a refinanced mortgage you may be hit with several fees. There are a number of fees the mortgage lender charges when a homeowner pays off the mortgage, such as processing and faxing fees. Learn what the fees associated are with paying off a refinanced mortgage.
Home Improvements: Consult Architect And Contractor If Large-Scale Rehab
Learn what to consider for a large scale home improvement plan. It helps to work with an architect, contractor and building department if the home improvement project includes building up or building out on the existing home. An architect and contractor can help put the home improvement project in financial and logistical perspective - whether building up or building out on the existing home is a possibility.
1031 Exchange: IRS Rules For Investment Property Purchase
A father wonders if he can do a 1031 exchange and rent back the newly purchased investment property to his struggling son. Sam discusses the details of the 1031 exchange commonly known as Starker trusts, the IRS rules behind them and how they apply to investment property. One key point: a good real estate attorney will help you navigate the IRS tax rules about a 1031 exchange and how it applies to investment property.
Home In Foreclosure – File For Bankruptcy?
Homeowners were served with foreclosure papers - is filing for bankruptcy their best option? Ilyce and Sam tell the homeowners not to file for bankruptcy, but to talk with their mortgage lender about paying their mortgage, even though they have been served with foreclosure papers. Ilyce and Sam say bankruptcy should be the homeowners' last option, despite being served with foreclosure papers.
Rental Property Owners Need Real Estate Attorney To Protect Investments, Limit Liability
Owners of rental property should consult and retain a good real estate attorney to protect their investments and limit liability. There are multiple avenues rental property owners can use to find a real estate attorney to help protect investments and limit liability. Calling your local bar association is the best way to find a real estate attorney, protect your investment, and limit the liability that comes with owning rental property.
Easement May Solve Title Problem
When a property line is incorrectly recorded it results in title problems, which can delay or prevent a home sale. To resolve this kind of title problem, you have to correct the documents filed with the homeowners association and possibly create an easement so that the property line becomes acceptable. It may also be worthwhile to ask the developer to modify the documents that describe the property line.
Seller Disclosure: Damage After Home Inspection And Closing
What is the seller's responsibility as far as seller disclosure once the home inspection and closing are over? Does seller disclosure still apply, if hail damages the home after the buyer has the home inspection and closing. Months after the home inspection and closing the buyer is still trying to get the seller to file an insurance claim.
Capital Gains Taxes And Selling Real Estate
Homeowners will get a tax break in the form of capital gains if they sell real estate 2 years after its purchase date. The capital gains tax law allows homeowners to take the first $250,000 for a single homeowner or $500,000 for a married couple tax free, if they've lived there for 24 months before selling real estate. The capital gains tax break is worth it to the homeowner if they can live in the home for 2 years before putting the real estate up for sale.
Finding co-op loans
The best way to find a co-op loan is to talk to real estate agents who list co-ops for sale. They usually know lenders in the area who will finance a co-op property.
Books Every Real Estate Investor Will Love
Books Every Real Estate Investor Will Love. Real Estate Investment Property Book Review. Young Americans are increasingly plowing retirement dollars into investment property -- sometimes even before they buy a home as a primary residence. Owning investment property can dramatically increase one's net worth. If you've decided to invest in real estate, here's a quick look at some recent titles that may prove helpful as you begin your search for the right investment property.