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 What every Buyer should know before purchasing!
- 1. Property taxes and qualified home mortgage interest are deductable on individual's federal income tax returns. Consult your tax advisor.
- Many times, a home is the largest asset an individial has and is considered one of the safest investments over time.
- A homeowner can exlude up to $500,000 of capital gain if married, filing jointly or up to $250,000 if single or filing separately. Again consult your tax advisor.
- A portion of each amortized mortgage payment goes to principal which builds up equity in your home over the years.
- The majority of the time a REALTORŪ can show you any home whether it is listed with a real estate broker, a builder or FSBO (For Sale By Owner).
- A home should be bought to enjoy and to live in and not thought of just an investment. Markets go up and down.
- Working with a REALTORŪ to purchase a FSBO can be very advantageous because someone is looking out for your best interests.
- A real estate professional can provide you with financial information, can give you distinct advantage in making the correct decisions when purchasing a home.
- A pre-approval program (I will always require a loan pre-approval) will actually approve you for a specific loan amount subject to the property. This will give you confidence and will help in negotiating with the seller to get you the best deal over other buyers. You like like a cash buyer to the seller.
- Your real estate professional will provide you with a list of items you'll need to make a loan application.
- The right to conduct a property inspection, included in your sales contract, will give you the ability to negotiate with the seller in case of major problems are reported by the home inspector. Your attorney will guide you further.
- A home protection plan (Home Warranty) can provide coverage for selected items such as Central Heating and Cooling, some Plumbing,and Appliances and other items. Ask me about these available plans.
Any Questions, just email: geomagdanz@sbcglobal.net
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