What Every Buyer Should Know Before Purchasing a Home
1. A Realtor can typically show you any home--regardless of whether it is listed with a company, a builder or even for sale by owner. It's better to have representation in your corner than to call the number on the sign in the yard. (Bookmark this page and check back tomorrow to find out "why").
2. Working with a Realtor to purchase a FSBO or "For Sale By Owner" can be very helpful because you have someone in your corner.
3. A portion of each amortized mortgage payment goes to principal, which is an investment.
4. Need write-offs? Property taxes and qualified interest are deductible on each person's federal income tax return.
5. A Homeowner can exclude up to $500,000 of capital gain tax if married filing jointly, or $250,000 if single or filing separately. The home MUST have been the taxpayer's principal residence for the previous two years.
6. Ask the Real-Estate professional what he/she will do to keep you informed.
7. A Real-Estate professional should provide you with the highest level of service and advice. Afterall, a home is likely the largest investment one will make in their lifetime.
* Information not intended for tax advice. Please consult your CPA with taxation questions and concerns.
* Amy S. Arey, Realtor * 214.901.1341 * AA@SuburbanStreetsRealtor.com *
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