FIRPTA Foreign Investment in Real Property Tax Act The United States Federal Tax Law requires that a foreign citizen who sells real estate owned in this country pay taxes on the profit of such sale. To insure that the tax is paid, 15% of the proceeds at closing are withheld and transferred to the United States Treasury. The 15% withholding is mandatory if the seller is a … Keep reading... about FIRPTA Foreign Investment in Real Property Tax Act
General Interest
Get a CLUE Insurance Report
Obtain an Insurance CLUE Report Have you heard the term, Get a Clue? If you are in the market for a home, it is a good idea. In this case a CLUE is an acronym for Comprehensive Loss Underwriting Exchange. Insurers use a CLUE report as one piece to evaluate the risk of a property. As a prospective buyer of a home, you can request that the seller provide this report as part … Keep reading... about Get a CLUE Insurance Report
Remodeling Your Home
When a home owner thinks about a remodeling project they are mostly focused on the final results. They want the project to turn out the way they had in mind. The home owner will probably get several competing offers and ideas from contractors. While the final price will certainly come into play, it is not necessarily the deciding factor. Among the most important influences … Keep reading... about Remodeling Your Home
Homeowner Habits
Bad Homeowner Habits An article in This Old House (September 2016) describes bad homeowner habits. These habits can adversely effect the value and maintenance of any home. Often, these things are done with the thought of good maintenance. One item of overdoing it is using too much drain cleaner. Owners rightly believe that clogged drains can lead to damage and leaks. It … Keep reading... about Homeowner Habits
Build Credit History
The Federal Reserve has released data credit card use. The data indicates that many Americans under the age of 35 are reluctant to own or use a credit card. Such reluctance could hinder the ability to document credit history. Credit history is an important factor in the ability to qualify for a mortgage. The use of credit cards has helped young people develop a credit … Keep reading... about Build Credit History