When you sell your home, you may see some tax benefits and consequences depending on your situation. For some, sellers may see tax breaks, and for others, they may have to pay more taxes. Here are some common tax benefits and consequences of selling your home: [Read more…]
Despite their home being their largest asset, many homeowners never calculate their true return on investment if they want to sell their home. When they do sell, they will receive what is known as return of capital. Viewing your residence as an investment rather than a sunken cost can make all the difference when trying to figure out what return of capital is. [Read more…]
You are moving from your current home and want to gift it to a loved one like an adult child. It can’t be that hard, right? Gifting your home to a loved one can be trickier than you may think, but they are doable when researched thoroughly.
Tax Consequences of Gifting a Home
Where a school district is located has a significant effect on the property values of nearby homes. School districts with a good reputation attract families with school-aged children, creating a demand for nearby real estate. This demand can drive up property values.
The Wealth of Homeowners
In and of itself, a good school district is not responsible for rising property values. For the most part, good schools tend to be located in neighborhoods that are more affluent and have a higher standard of living. [Read more…]
If you’re selling your house, the internet is the best way to reach potential homebuyers as online visibility will greatly increase your chance of selling your home fast. In today’s technological world, the internet is the first place potential homebuyers will begin looking for a home thanks to its convenience. With that being said, there are several resources can help sell your home online. [Read more…]
When considering the offers from buyers who are interested in buying your home, who would you be more likely to choose; the buyer with a history of making their payments on time or the buyer who has a history of being unable to pay? Naturally, you’d prefer the buyer who has a good payment history. But does that mean you should never take into consideration buyers who have re-performing loans, even if they have a good offer? It depends. [Read more…]
Simply put, a re-performing loan is a loan that was previously considered non-performing and you began making payments on it again. Re-performing loans are also called “scratch and dent” loans because it has a performing issue or is defective.
Even if you have not repaid the missed payments your loan will still become re-performing—just remember that you will still need to repay what you missed. Whether you are a home buyer, owner, and seller, re-performing loans can affect you in different ways. [Read more…]
Putting your home up for auction can be an effective and efficient way to sell a house. Many times a property may end up selling for more than it would have when sold traditionally. Before you decide to auction your home, there are a few basic factors to cover.
Tips for a Successful Auction
Before you sell your home at an auction, there are a few tips you should follow to make it as smooth as possible. If you go in without a plan, chances are you won’t have much success. [Read more…]
It’s time for you to sell your home and list it for sale. You’re excited, but you may be wondering what time of year is best and will get your home the most exposure. Are there really on- and off-seasons? The short answer: yes. If you’re looking to sell your home, it’s generally recommended to put it on the market in the spring so it has a better chance of selling. [Read more…]
Your old home is a fixer-upper: there’s some mold, and some drywall needs to be replaced among other things. Whether serious or minor repairs are needed, you’re looking to sell the home, but don’t know where to start. Thankfully, no matter the condition, you can sell a fixer-upper home with the right strategy. [Read more…]