A 1031 exchange, more commonly known as a “like-kind” exchange, is a legal tool that allows real estate owners to exchange pieces of property and defer capital gains taxes. This generally applies to investment or business properties. In the past, there was the ability...
Property owners who sell real estate at a profit may need to pay capital gains taxes. The reasoning is basically that the Internal Revenue Service (IRS) views the gain in value as a form of taxable income. The IRS generally applies a capital gains tax to the value of...
A real estate attorney can serve a number of functions. Common examples include: · Title work. A title search checks for issues that could hinder the transfer of ownership of property. An attorney can complete this search and help to resolve any potential legal...
Buying a second property is a big step. Although it is never possible to know with certainty that the risk will lead to reward, two situations that increase the odds of success include the following. #1: The property is in line with future goals It is important to...
Although buying property remains one of the biggest transactions most make in their lifetime, the process is arguably easier than ever before. Technological advances have provided access to information to help prospective buyers complete due diligence prior to moving...
The term snowbird is popular for a reason. The appeal of a home near family and an escape to warmth in the cooler winter months draws many to the sunny shores of Florida every year. Estimates from 2018 find that homeowners used at least 7.5 million properties in the...
The financially savvy know the power of diversification. It is important to make sure your portfolio has more than just stocks and bonds. Another important part is often real estate. Owning real estate can extend beyond the traditional primary home or vacation...
Buying or selling a home is often the biggest financial transaction any individual will complete during their lifetime. Taking the time and getting the professional help needed to do so with their best interests in mind is wise. But when it comes to professional help,...
The real estate market is booming right now, and a good deal is hard to come by. Find one that seems like a great opportunity, and you may find yourself wondering if it is too good to be true. This moment of pause is for good reason. Unfortunately there are some...
Making the decision to purchase a house is a significant legal and financial choice. If a buyer is considering this step, he or she will benefit from doing the appropriate research first. Knowing what to expect from this process and preparing well allows one to...
