Before you close on the purchase of your new home, your lender will order an appraisal of the property you are buying. What happens during the appraisal process During this process, an appraiser tours both the home’s interior and exterior. The appraiser will take photos and inspect the property. They will review public records, check […]
Tag: Real Estate
Homeowner Tax Perks: Get The Most Out Of Filing
What tax deductions, programs and housing allowances are available to homeowners? Let’s explore a few options that the IRS makes available. If you have a mortgage, you may deduct the interest paid, within allowed limits. You can also deduct state and local real estate taxes (subject to a $10,000 limit). Interest paid on home equity […]
A Short Sale Can Mean a Bargain Price
A short sale occurs when a lender allows a homeowner to sell their house for less than what is owed on their mortgage. For example, if a homeowner owes $300,000 on their mortgage, in a short sale, they might sell their home for $250,000, or $50,000 “short” of what they still owe. Why would a […]
Separating Your Business From Its Real Estate
Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You may want to rethink this approach. Any short-term benefits may be outweighed by the tax, liability and estate planning advantages of separating real estate ownership from the business. Tax […]
A Tenancy-In-Common Interest Can Ease Distribution Of Real Estate
If your estate includes significant real estate investments, the manner in which you own these assets can have a dramatic effect on your estate plan. One versatile estate planning option to consider is tenancy-in-common (TIC) ownership. What is tenancy-in-common? A TIC interest is an undivided fractional interest in property. Rather than splitting the property into […]