IRC Section 1031 (a)(1) states: "No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment, if such property is exchanged solely for property of like-kind which is to be held either for productive use in a trade or business or for investment."
Foreclosures are always a mystery to many homeowners or buyers. This chart explains the process in a way that you can easily understand.
Required Disclosures When Selling U.S. Real Estate. What you need to disclose to potential home buyers about your property.
Copyright NOLO 2009
When selling your home, you may be obligated to disclose problems that could affect the property's value or desirability. In most states, it is illegal to fraudulently conceal major physical defects in your property such as a basement that floods in heavy rains. And many states now require sellers to take a proactive role by making written disclosures about the condition of the property.
Housing affordability reached an all time high in California in 2015. The California Association of Realtors Housing Affordability Index measures the percentage of households that can afford to purchase a median priced, single family home in the different regions of the State. Image below shows the state's most affordable counties.
by The National Real Estate Investor
Read the rest of the article at The National Real Estate Investor
Reader question: At what point in the process of selling a house does a Realtor or owner have to disclose the occurrence of a murder or suicide in the home? Virginia L.
Monty’s answer: Each state has law that regulates this question. Most states do not require the disclosure of a death, regardless of the cause.
Read rest of the article at the link below.
Read more at Dansville-Genesee Country Expres.
It is important to know what you are doing when selling real estate. You'll find that there is much to read and learn online and in books. However, it can be quite time consuming to go through all of the material. Below, you will be able to read practical suggestions to aid you in your decisions.
That reason is probably your home's price. You must work towards a transaction that is fair for both sides, and that includes a price that accurately reflects the current market and your home's specific value.