Found 6 blog entries tagged as teravista.

 
Many homeowners will be facing a financial burden due to Coronavirus and if it is affecting your ability to pay your mortgage you may have more options than you think. As of the writing of this message there has not been any uniform relief among all lenders. There are several proposals but none have been agreed to. Information is coming out quickly and things are changing every day. 

#1 Things You Should Do

The most important thing you should do is not bury your head in the sand, don’t run and hide and don’t ignore calls and letters from your mortgage company.

Do You Need To Be Behind On Payments?

Even if you haven’t missed a mortgage payment yet the best thing you can do is pick up the phone or go online to your mortgage…

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In our neighborhood everybody talks about the ways in which home values are affected in the community. Maybe it is new apartments being built, sometimes it’s cars parked on the street, many people are concerned about cars being broken into, for others the hot button is landscaping and how the community is maintained.

When I talk to our neighbors the conversation often turns to some of these issues and how they are affecting our property value negatively. They talk about all the visible things that may potentially affect home value in a neighborhood.

In reality there is a hidden killer of home values that very few people know about. The hidden killer is the average agent that listed your neighbor’s house.

Let me tell you why.

Because when…

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Selling your home isn’t like selling a toaster on Craigslist or selling your car at the CVS parking lot. There is often a misunderstanding of what as As Is contract means.

I had a client whose AC wasn’t working when the buyer performed their inspection. When the HVAC tech arrived at the property, he told my client she didn’t have to repair the AC because real estate contracts are As Is.

Technically the tech is correct but there is a big difference between what happens after going under contract on your home with an As Is contract and how things play out in the end. 

When a buyer makes an offer for your home they will check off if the contract is As Is or if the buyer is requesting any specific repairs and treatments. By far the…

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Homeowners often ask our opinion about home improvements they are planning to make and if they will increase the value of their home. Before I consider any home improvements at my own home I like to step back and think about them at a higher level and here is the thought process I go through before I get in my car and head to Home Depot.

Will It Solve My Problem?

Especially before starting a large project I ask myself if it will solve my problem.

The best example of a mistake I have seen is a homeowner who was told by a different Realtor his house isn’t worth as much as another home because the master bedroom was upstairs. Based on this information the homeowner spent $90,000 to add a 2nd master bedroom downstairs. In the end the…

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If the IRS considers you a “foreign person” and you are selling real estate your sale may be subject to FIRPTA withholding.

 

 FIRPTA is short for The Foreign Investment In Real Property Tax Act of 1980. FIRPTA is a tax law that imposes income tax on foreign persons when selling real estate. Read more about FIRPTA at the IRS website. https://www.irs.gov/individuals/international-taxpayers/firpta-withholding

This sounds scary and can be confusing to both sellers and buyers. Buyers can be especially frightened by the FIRPTA process because there are forms buyers have to sign that say the buyer is responsible for paying any taxes due if they are not collected at closing.

Many real estate agents do not understand FIRPTA and they do not ask…

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If you are planning to sell your home but worried about having to move twice a leaseback may be a great option for you. Last year we helped 17 sellers negotiate a leaseback on their home so it is a process we are experienced with and can explain how it works in more detail regarding your particular situation.

A leaseback is where the seller of a home is allowed to remain in the property for a period of time after closing and is something that can be negotiated between the buyer and seller as part of a real estate contract. Not only is the option to have a leaseback negotiable but also the terms of the leaseback are negotiable.

To add a leaseback to your home sale there is a 2 page addendum attached to the standard contract. In the addendum the…

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