Divorce doesn’t have to destroy the kids. There are options out there, and they’re not to blame. So it just so happens that many divorcing couples find the option to keep the home when dealing with a divorce until those kids move out when they’re older. There’s a specific reason to doing this, in that it’s not going to be a forever thing when owning the home indefinitely — eventually, that home will get sold!
If you’re going to sell that home later on, make sure you get that attorney on your side to stipulate in the divorce agreement that the home still is your “main residence” for tax purposes. The law states that you won’t get the tax benefits of selling the home if you’re not living in the home for at least two of the last five years of that primary residence.
So if the son and daughter are only in their teen years, and you’ve moved out, selling the home leaves you high and dry while the ex-spouse reaps the tax benefits. Therefore make a point to research with the Income Tax Planning Network and find out what you need to do to settle the issue correctly.
Tax benefit, to be exact. It just takes timing. And divorce is anything but timely. Make it a point to sign up with ITPN and talk to an expert immediately. Get the lawyer, too, while you’re at it. Divorce doesn’t have to destroy the finances, especially when you’re facing the issue of selling that home. Either you sell the home and make anywhere around $250K in profit, or you’re not paying attention to those tax laws and have to fork over a ton of that profit to the IRS. You pick.
The post Maximizing Tax Benefits for Selling the Home After Kids Grow Up appeared first on Your Rent-to-Own Consultants.
Twitter knows everything real estate these days. Buying a home? You’ll find it in a tweet. Have you browsed the trends lately? Selling homes on Twitter’s huge these days. The whole of social media, in fact, knows home selling like the back of its digital hand, and don’t even get us started on real estate investment. There’s a big cash cow there, especially when researching property values on Zillow, so if you’re looking for a little know-how, honestly, you might as well find it online.
Why? Not only is it good information — it’s relevant information. This is information passed around right now. Who knows — you might even read this information and realize what’s not only trending in everything real estate, but active in the world today, on the news, in your neighborhood, and basically everywhere you look. So it’s in your best interest to check out these articles on everything real estate on retweet from the top professionals in the industry:
So it’s in your best benefit to be involved. Get on social media. See what’s cooking. Tweeting. Trending. Check out the hashtags. Look to the predictions of everything real estate. Information is power. Trust us.
The post 4 Top Articles on Retweets for Everything Real Estate appeared first on The Complete Real Estate Site.
Obviously, there’s a reason why real estate agents, brokers and property managers make bookoo bucks in the industry — property values are paramount. Big money. Real estate investing’s hot, especially right now with the home purchase price predictions we’re seeing clear across the board (Texas, we’re looking at you!). So it’s no secret that a home purchase happens to be the one single decision you make that can change your whole life; and like astronauts to the moon, a million wrong things can happen at any second. The same goes with a mortgage — especially with these new mortgage rules we’re looking at.
And, honestly, some might surprise you. We know about them, and we’re still surprised! Take some notes, do the homework, hire a real estate attorney if you need to — but one thing’s for sure, you’ll want to bring your notepad on this one when considering a home purchase:
But these real estate tips are essential. You’re looking at a lot of money issues, here — renovations, perhaps, maybe even issues with real estate leads via social media or other avenues for competition with other buyers. It’s a cutthroat industry out there. Be prepared. These are your weapons of choice. Use them proudly.
We’re most definitely seeing what we can easily call the real estate “Goldilocks Effect” — a state of being in the real estate market that is neither too hot or cold, nor too big or small, and definitely not too hard or soft. It’s a real estate market that’s just right. Perfecto. The stars become aligned much like how NASA had discovered that second planet Earth some million light years away. It’s almost like a scientific breakthrough, something the real estate industry rarely sees, but in the case of this year, for the United States, it just so happens….
And when you think about it, this is rare. Count how many towns and cities actually exist in the United States. So it’s safe to say that just 20 of those real estate markets stand as a cut above the rest for home selling and home buying with zero down. And here’s a quick teaser before we get into it — waaaaaay more than half of the states are not on this list! It’s true.
So if you’re game for trying to find the best possible regions, cities, towns and communities where the homes sell like hotcakes and buyers flock like seagulls, you might want to visit these particular states right here:
Eat your porridge, sit in a chair, and take a nap, of course. But once you find that home in the Midwest, Texas, or California, you better get out of there before the bears find you. Thankfully, we made it pretty easy for you to find the best properties in the real estate market before that ever happens. So happy hunting!