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Son Won’t Give Up Property Rights

By | October 3rd, 2008|

Parents should exercise caution when quit claiming property over to their children and take time to consider potential worst-case scenarios. This mother wants to sell her home but has added her son and daughter to the deed, and the son refuses to quit claim the home back to his mother. But in some families, quit claim deeds are never delivered to the kids and in many cases never recorded.

Housing Market Affects Steps To Sell Home

By | October 3rd, 2008|

A home seller worries about her real estate agent changing her approach to selling a home. The real estate agent first said the home "shows well" and is now asking her to declutter her house. The housing market likely changes the approach the real estate agent takes. A good agent may change tactics, such as including staging, as housing market conditions shift.

Home Buyer Protection In Short Sale

By | October 3rd, 2008|

Is a home buyer protected if the home he bought in a short sale sustains fire damage prior to the closing? Ilyce helps a reader sort out what kind of protection the home buyer has in a short sale - when the home owner's insurer has the home owner make the repairs himself. The home buyer's best course of action is to contact a real estate attorney to find out what protection he has since he bought the home in a short sale.

Foreclosure Auction: Is It Always A Good Deal?

By | September 30th, 2008|

A foreclosure auction may seem like a one stop shop to pick up a foreclosed property after looking at several. But you can also find foreclosures through a real estate agent and do a market comparison to see if you're really getting a good deal. Learn about one agent's visit to a foreclosure auction.

Short Sale or Foreclosure: Will You Save Money?

By | September 30th, 2008|

Many people think you save money by buying a home that's a short sale or foreclosure. That's not necessarily true. Even if you do save money on a short sale it can take longer to close on escrow. California real estate agent Charlotte Laws talks about saving money with short sales or foreclosures.

What Is A Short Sale?

By | September 30th, 2008|

When you owe more on your home than it's worth you may want to do a short sale. In a short sale the bank forgives some of what you owe them. It's more cost-effective for a bank to do a short sale than foreclose on a home.

1031 Exchange – What is Cost Basis?

By | September 29th, 2008|

Learn how cost basis is calculated for a 1031 tax exchange. 1031 exchange expert Julianna A. Clementi-Ryan explains what's involved in determining cost basis.

1031 Exchange – Recapture Depreciation Tax

By | September 25th, 2008|

When you own an asset for business or investment use you can claim some depreciation as that asset drops in value. When you later sell that asset the IRS wants to get back, or recapture, some of the depreciation. Our 1031 exchange expert explains how recapture depreciation tax works.

1031 Tax Exchange Timing

By | September 25th, 2008|

Depending on when you do your 1031 tax exchange you may be able to claim a failed or partially failed 1031 exchange on your taxes. Learn how the timing of a 1031 exchange affects tax straddling. Be sure to discuss the timing of your 1031 tax exchange with your CPA or tax attorney.

What to Ask a 1031 Exchange Company

By | September 25th, 2008|

When you want to do a 1031 tax exchange you have to find a qualified intermediary, an impartial third party who will hold your funds. But how can you find a trustworthy 1031 exchange company? Ask them how long they've been in business, what insurance they have, what experience the staff has, where your 1031 funds will be held and what to do if the 1031 company goes bankrupt. Don't just rely on recommendations to find a 1031 exchange company.

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