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...
Real Estate Transactions
Real estate and capital gains: 3 things to know
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...
When do I need a real estate attorney?
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...
Is that second property a good buy? Two times the answer is yes.
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...
3 times you need a real estate attorney
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...
Two tips before buying a second property in Florida
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...
What should I know about underwriting and real estate investments?
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...
Do I need a real estate broker?
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,...
How can I know if a real estate listing is too good to be true?
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...
Important considerations before buying a home
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...