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agent gets commission when buying house for himself?

admin — Wed, 03 Mar 2010 18:15:20 +0000

I am trying to buy a house, but I am also a new real estate agent. Do I get the comission when I buy my own house. I dont remember this from training. Thank you.

When in a real estate transaction, since you are a licensed real estate agent, you are required by law to reveal in any contract with the seller or buyer that you are a licensed real estate agent.

Some take this a little further and state "I am purchasing this property as my personal residence or I am purchasing this property as an investment property." This is not required, however, in this society of law suits it might help.

Any property that you sell either as the selling agent or a property that is sold as you being the listing agent, you are legally eligible for a commission on these type sales.

Your commission is based on the agreement you have with you real estate broker.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Be Very Careful if you are buying a house!

admin — Wed, 03 Mar 2010 12:47:04 +0000

Be very careful if you are a home buyer right now. The majority of purchases are going to be losing deals as the housing bottom is not here yet! That doesn’t mean that every house purchase is going to be a losing one. However, the majority of them will be!

Especially if you plan on putting a house on mortgage, then this is going to increase debt even higher. The interest rates will go higher soon and this should cause problems.

If you have a lot of money and you find a property that can work very well for whatever it is that you plan on doing over the next little while, then it can be a great investment. Especially if you are paying Fiat dollars for it and not taking a mortgage. But once again, not many houses are a deal. Most house purchases will cause problems down the line for a lot of people.

Duration : 0:3:6

Technorati Tags: 2012, currency, debt, dollar collapse, dollars, economic collapse, farming, fiat, gerald celente, home sales, house, interest, invest, investing, investment, investor, Jim cramer, jim rogers, mayan calendar, money, mortgage, obama, peter schiff, President, rate, real estate, Ron Paul, trade

buying house with masterbath tub in the floor, how can it be changed without spending a fortune, design ideas?

admin — Mon, 01 Mar 2010 15:16:13 +0000

built in 1920, not sure the last time it was remodeled, but it has to have a do over, not sure with money issues if i should leave and design around or try to pull it out, want the house to have a time period feel, just not sure what sunken tub feels like, but Roman and that is not what i am going for, thanks for the help

IS THE FLOOR CONCRETE? OR WOOD? THAT 1920 STYLE IS COMING BACK . IF REAL CASE IRON TUB, U CAN CONTACT A CONTRACTOR THAT RECONDITIONS THESE TYPE OF TUBS.

Do Home Inspectors Make Mistakes – Home Buying Advice

admin — Sun, 28 Feb 2010 11:51:05 +0000

We’re human and humans do make mistakes. If you’re planning on buying a house in the near future and hiring a home inspector, you can only hope that your home inspector won’t make more mistakes than another home inspector. You can always hire another home inspector and spend another $300-$600 or you could use a home inspection checklist. The home inspection checklist usually provide you with enough information to do your own home inspection. Home inspectors also use checklists while they are doing a home inspection for you, so why would you want to use a home inspection checklist and do your own home inspection, just in case your home inspector misses something big. Mistakes like foundation and structural framing problems could be expensive. A home inspector might not find everything and you might not find everything using a home inspection checklist, but if you just found one thing using the checklist that a home inspector missed, how much money would this home inspection checklist actually be worth.

Duration : 0:1:44

Technorati Tags: buying homes, construction advice, home construction, home inspection mistakes, home inspection problems, home purchasing ideas, home repairs, home selling planning, real estate tips, selling homes

how to avoid capital gain tax while selling a land and buying house?

admin — Sat, 27 Feb 2010 16:55:34 +0000

My wife has a land in Orissa. We are planning to sell that land and purchase an apartment in Karnataka. The apartment price is more than the proceedings from the sale of land. Hence I am planning to take loan for the additional amount. My wife is unemployed.

How we can avoid paying Capital Gain Tax and how I can get the tax exemption on home loan?

Mr. HMT answer is my answer.

Land means agricultural land ??.

In case if it is a agricultural land then there is not tax on it. Agricultural land is exempt from capital gains. The conditions are given below. Read it in the website.

http://www.taxworry.com/2007/01/agriculture-land-sale-is-tax-free-but.html

Will both parties recieve a tax benefit from buying house, if you are not married?

admin — Thu, 25 Feb 2010 20:20:18 +0000

As I understand it, interest on the mortgage, and real estate taxes are tax deductable, if you own a home. I am thinking about purchasing a home with my fiancee, i was wondering if we would be able to both benefit from the interest and real estate taxes paid, when filing our next years tax return.

Only the one who actually pays gets the benefit on taxes, since you can’t file jointly. Whosever name is on the mortgage and pays the mortgage will also get to claim the interest. If you are both on it, and both paying, you will have to talk to a tax expert.

Whoever pays the taxes gets that benefit. You might be paying the mortgage, and he might be paying the taxes so you would both benefit.

Do’s and Dont’s When Buying a Home

admin — Thu, 25 Feb 2010 13:11:02 +0000

An educational series brought to you by UNHS NeighborWorks Homeownership Center. Content courtesy of SJTV LLC dba CNYs Open House. For more information visit, http://www.cnyopenhouse.com

Duration : 0:4:17

Technorati Tags: home buying process, home buying tips, homeownership, how to buy a house, NeighborWorks

What is the Website for buying house hunting that starts with ‘m’?

admin — Tue, 23 Feb 2010 18:01:16 +0000

Hi,
There is a website that is suposed to be really good for house hunting (maybe the one that realetors use for searching). I believe it starts with an "M" but I can’t remember what it is. If anyone knows please help me out.

You can search for free at
trulia.com

realestateabc.com

realtor.com

homes.com

cyberhomes.com

zillow.com

ziprealty.com ( I don’t work for any of them and all are free to the public)

There are none which start with "m" and are open to the public.

First-Time Home Buying 101 ft. Ed Kaminsky

admin — Mon, 22 Feb 2010 11:16:30 +0000

Learn the ins and outs of buying your first home.

Duration : 0:6:37

Technorati Tags: buying a home, buying your first home, Condos, creating wealth, credit, debt, finances, first time home buyer, first-time homebuyer, homebuyer, homebuyer tax credit, house, income, mortgage, real estate, stimulus, taxes

What are your opinions of buying house versus condominium?

admin — Sun, 21 Feb 2010 21:15:19 +0000

I am 60 years of age. I have very nice cozy home like afforadable apartment now. I want to own something before I die. A 20 or 30 year mortgage: I probably won’t live to see finished. Rather give the money to my kids than the landlord. I do not want to do yardwork etc. of a house. But then, with a condo, there is association fees, indoor maintainence, etc. What to do?

to the previous answerer: A townhouse is legally a condominium, the only difference is that you typically have no upstairs or downstairs neighbors, and usually at least enough of a yard to set up a barbecue.

To the question: It depends what you can afford. I can certainly point to a lot of folks who should have bought condos, because that’s all they can afford, and instead unscrupulous people looking to make a bigger commission qualifed them via stated income, negative amortization loans, or both, for an actual house, but now they’re just hanging on, and prices have dropped, so they can’t refinance, and they can’t sell for enough to pay off their loans. If you can afford the real payments, right now is a great buyer’s market in large swathes of the country. If you can’t, keep renting.