Daily Archives: August 7, 2008
Closing Costs Increase Nationwide
Average closing costs increased to $3,118 in 2008 from $2,736 to 2007. That’s a 14 percent rise, according to Bankrate.com.
Which state has the highe…
Home Seller And Buyer: Negotiate Lower Real Estate Commission With Agent
Learn how to negotiate a lower real estate commission when using a real estate agent. A recent survey from Consumer Reports indicates that real estate agents are open to negotiating lower real estate commissions. In some cases, the buyer’s agent and the seller’s agent split the real estate commission.
First Time Home Buying Difficult With No Down Payment
A self-employed first time home buyer asks Ilyce for advice about buying a home without a down payment. The first time home buyer has a great credit score but no money for a down payment. Many non-profit programs that used to help first time home buyers with a down payment have gone away. What options does the first time home buyer have without money for a down payment?
Capital Gains Tax On Home Sale Inheritance
You may not owe any taxes on inheritance. When you inherit property, you inherit the property at its value at the time the person died. Generally, if you sell it within a year of the owner’s death, the IRS views the property’s value as of the day of death as the same as the day it sells. Because real estate can be hard to value, the amount received at the sale of the property if it was close to the person’s date of death would be viewed as the value of the property at the time of the death.
California 1031 Exchange Company Closes Doors
A real estate investor asks what to do now that his 1031 exchange company in California has closed its doors. The real estate investor may not be able to get his funds back. Who can the real estate investor contact regarding the 1031 exchange company that went out of business?
