Tax Advice For Sellers

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You may qualify to exclude from your income all or part of any gain from the sale of your main home. Your main home is the one in which you live most of the time. Ownership and Use Tests To … Read More

Why Should I Use a REALTOR When Selling?

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One of the most complex and important financial events in peoples’ lives is the purchase or sale of a home or investment property. Because of this complexity and importance, people usually seek the help of real estate brokers and sales … Read More

FSBO Woes

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Granted, some people are able to sell their own homes without the services of a real estate agent. Some of these successful do-it-yourselfers are very experienced home sellers. Others are transferring ownership of their home to a child, a coworker … Read More

Hiring a Home Inspector

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Once you’ve found the home of your dreams, it’s time to make an offer to buy it. Before deciding how much to offer, HUD urges you to get a professional inspection. It can also be helpful to find out how … Read More

Safety Inspection Tips

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Before you buy a home, you’ll want to know exactly what it is you’re getting. An inspector checks the safety of your potential new home. Home Inspectors focus especially on the structure, construction, and mechanical systems of the house and … Read More

Negotiating Tips

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These tips will help you get the very best deal and write the best possible offer. Always remember to have the home inspected – you can deal off any flaws! Ask for advice! A seasoned real estate agent can help … Read More

Closing Costs Explained

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The lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support. According to the FHA,monthly … Read More

What Is Escrow?

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Escrow – A neutral third party holds documents and money for a real estate transaction and ensures that all conditions of a sale are met. Also refers to a special account that a lender uses to hold a borrower’s monthly … Read More

What Is Involved With Closing?

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There may be closing cost customary or unique to a certain locality, but closing cost are usually made up of the following: Attorney’s or escrow fees (Yours and your lender’s if applicable) Property taxes (to cover tax period to date) … Read More

Tax Benefits of Owning a Home

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The purchase – The IRS says you can deduct interest in the year that it is paid, and that is usually part of each monthly loan payment. Mortgage interest – In general, you can deduct interest charged on a loan … Read More

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