Selling

Buyers and sellers have to pay closing costs associated with the transaction. It's important to estimate the costs that each person must pay before placing the property on the market. This also allows the seller to determine what the net income for the sale of the property should be. The most common closing costs for the seller are: 1. Remaining mortgage balance(s) The remaining loan balance,...

The difference between a property being “on sale” and “sold” lies mainly in the sales price. Therefore, it's important to determine the appropriate sales price before placing the property on the market. Constantly analyzing the competition and adjusting the price, when necessary, is also important. Errors in Determining the Sales Price · Basing the sales price on the price of...

Selling your home is probably one of the most important investments you'll ever make. This is why it's essential to go through a detailed interview process before hiring an agent. This professional will be responsible for establishing the sale price, executing the marketing plan, holding open houses, interviewing potential buyers, and cooperating with the negotiation of different offers. They will be...

1. Find the answers to the following questions: · The three main reasons you are moving. · Realistically, the price you expect to set for the sale of the property. · How much money you expect to receive from the sale of your home after all cost are deducted from the sale (e.g., commissions, closing costs, etc.) · How much money you need to...

Fixing up a property is often a challenge that wears on your bank account. Whether you are trying to bring a few updates to your home to make it more enjoyable for your family or if you are trying to fix up and modernize for a sale, there is sure to be a lot of hard work and cash involved. Selling your home in today’s market can be a challenge. When your house needs a little elbow grease, it can be...

When you are ready to sell preparing your home before coordinating visits from potential buyers can really maximize and speed up the process of selling your home. A few tweaks can make a big difference in making a good impression on potential buyers. First, go through every room in your home as a buyer would and consider what you could repair, clean, replace, or get rid of. You should focus on: 1....

When it comes to residential real estate transactions, the customary commission is typically 6% of the final sale price, which is evenly divided between the buyer's agent and the seller's agent. For residential rental transactions, the standard commission is either 10% of the lease value or equivalent to one month's rent. This commission is distributed equally among the agents involved in the...

The Foreign Investment in Real Property Tax Act of 1980, commonly known as FIRPTA, is a tax legislation that impacts foreign individuals and companies who wish to sell their property in the United States. Who does FIRPTA apply to? FIRPTA applies to non-resident aliens and foreign companies that are not considered American corporations. From a tax perspective, when a person who does not reside in the...