Gather the Offering Plan, Purchase Application, and Building Rules and Regulations. (These may be in your own files, with your attorney, or you may need to contact the board for copies. Your buyer will need it as soon as there is an accepted offer.)Collect copies of the building’s financials for the past two years.Check your shareholder’s certificate and make sure both your listing agent and your attorney are aware of the exact name(s) on the shareholder’s certificate. Building Details
How many units are in the building? Does the building offer storage and/or bike storage? If so, is … (10 comments)
manhatan: Residential Sellers | New Federal Tax on Investment Income
- 08/22/12 11:50 AM
On January 1, 2013, a new 3.8% Federal tax on the investment income of individuals, estates, and trusts is scheduled to come into force. The tax was enacted in 2010 as part of the health care legislation. This new tax will be imposed on interest, dividends, annuities, royalties, rents, capital gains, and certain other items. The tax will be in addition to all otherwise applicable Federal, state, and local income, transfer, and other taxes. This post focuses on the tax's application to owner-occupied residential property (including single-family homes, condominiums, and cooperative apartments).1 Although the tax is complicated, here are a few … (8 comments)
;)
;)
;)
