Home Sales: Do You Really Know The Tax Exclusion Rules?

At the start of a working year in commercial real estate agency, we all like to think that this year can and will be better than last year. Improving each year is really a part of being an agent. That is how you build market share and your client base.

Economic conditions would be out of your control like a inflation in a certain area but as you know the more popular the area the higher cost of living so you dont make as much here.

You must pay, in full, right away. If you do purchase a home in a City Garden auction, you will be expected to pay for it, in full, immediately. If you don’t have six figures in liquid cash sitting around, this might not be for you.

When the time comes to pay back your reverse mortgage – you have to move out of the home. The debt may be large in amount and you may have little equity left in the house. However, no matter how much money you owe, it can never be more than the value of the home. Since you don’t need to make any monthly repayments, there is no need for you to qualify for any type of income. The major benefit of this process is that even if you do not have any income, you can still qualify for it. Also, your credit history is of no concern. The only requirements are that you are at least 62 years old, and that there is enough equity in the home.

A report released last week from the National Association of Realtors showed that in the last three months of 2006 home sales fell in 40 states and median home prices dropped in nearly half of the metropolitan areas surveyed. The median price of a previously owned, single family home fell in 73 of the 149 metropolitan areas surveyed in the 4th quarter.

Property Link Dubai is one of the successful property brokers in Dubai. We have a wide range of splendid properties in Dubai and other cities of UAE. If you are looking to buy, sell or rent a property then we will assist you with that. Our property experts will make one of the best deals for you with utmost profits.

All in all, even in this hesitant market, luxury homes are going to sell. It may take a bit longer, it may be a bit more work, but with the correct Realtor and the correct marketing plan, people will continue to buy and sell property as they have done for hundreds of years.

Recent Posts

Categories

Categories
FREE CONSULTATION
Consultation Banner

CONTACT US TODAY

Contact Form