Thursday, August 16, 2012

Home Selling Alone or With Realtors? Choose One



Ideally, in looking at today's real estate world market, we can say that selling our home is not just easy as one, two, three. Heard of the term Conveyancing? It's an action needed when selling a home and as sellers you must be aware of it, for it's really essential.

In case you have no idea on what is the term, conveyancing is the process of transferring a property with legal documentation and as well as administrative. In every deal you make, make sure to apply and fulfill any legal obligations for the property. This makes the deal valid and reasonably accepted.

Provided you have the right knowledge on all legal aspects necessary for the deal, then you alone can run a deal when selling a property. But not all are equipped with ideas and knowledge that is why you are needing the help of a realtor who will handle everything for you. These people are experts in all aspects of property laws and is good in providing you advices on how you do this and that.

Once you have in mind as your agent, then go to the process of selling your home. These agents earn a commission when they successfully find a buyer and was able to close a deal. They have better ideas on how to make a quick sale and so listen to what they are telling you and if there's something you don't like then feel free to comment about it. They have better options as well incase you find it hard to sell the property.

Monday, August 13, 2012

Principal Residence

I stumble upon this word from Realtown website. I found this useful and so I wanted to have this posted on my blog for those who are looking for the definition of this real estate term. This is just a quick post.

Principal residence define

Principal Residence

A structure that has been actually and physically occupied by the taxpayer. No minimum period of occupancy is required. 

Taxpayers selling their principal residence receive special preferential tax treatment: exclusion (i.e., no tax) of up to $250,000 for an individual return and up to $500,000 for married filing jointly if they own and have occupied the residence for two of the past five years. Foreign sellers may be exempt from the FIRPTA withholding rules if the new buyer uses the home as a principal residence. 


Excerpt source: from The Language of Real Estate, 6th Edition by John Reilly (published by Dearborn Real Estate Education, 2006 copyright).
Related Posts Plugin for WordPress, Blogger...