After buying a house, it is important to understand the tax implications of homeownership. According to the Internal Revenue Service (IRS), homeowners can deduct the following expenses from their taxes: state and local real estate taxes, home mortgage interest, and mortgage insurance premiums 1. However, taxpayers must file Form 1040 or Form 1040-SR and itemize their deductions… Continue reading Home Tax
Author: januka
How to get pre-approved for a mortgage
Getting pre-approved for a mortgage is an essential step in the home buying process. It helps you understand how much money you can borrow to buy a home, and it also makes you a more attractive buyer to sellers. In this blog post, What is a Mortgage Pre-Approval? A mortgage pre-approval is a process that… Continue reading How to get pre-approved for a mortgage
How to find the right real estate agent
Finding the right real estate agent can be a daunting task, but it’s essential to ensure that you have a smooth and successful home buying or selling experience. Here are some tips to help you find the right real estate agent: By following these tips, you can find the right real estate agent to help… Continue reading How to find the right real estate agent
How to prepare for a home purchase
Purchasing a home is a significant investment that requires careful planning and preparation. Here are some steps you can take to prepare for a home purchase: By following these steps, you can prepare for a home purchase and make the process as smooth as possible. Remember to take your time and do your research to… Continue reading How to prepare for a home purchase
What is Pro Forma ?
A pro forma is a financial statement that shows projected financial results based on certain assumptions or estimates. It is typically used to estimate future financial performance, such as projected revenue, expenses, and profits. Pro forma statements are often used in real estate to project the financial performance of a property, such as projected rental… Continue reading What is Pro Forma ?
What is Wholesaling in Real Estate ?
Wholesaling in real estate is a strategy where an investor, known as a wholesaler, finds a property at a discounted price, and then assigns (or sells) the contract to purchase that property to another investor at a higher price. The wholesaler makes a profit from the difference between the purchase price and the sale price,… Continue reading What is Wholesaling in Real Estate ?
How to buy foreclosure house ?
There are a few steps to buying a foreclosure property: It is important to note that buying foreclosed properties may come with certain risks and challenges, such as the need for repairs, liens, and other issues. It’s important to have a good understanding of the process and do your due diligence before buying a foreclosure… Continue reading How to buy foreclosure house ?
What is probate sale ?
A probate sale is the sale of a property that is being sold as part of the probate process. Probate is the legal process of settling a deceased person’s estate, including their assets and liabilities. When a person dies and leaves behind a property, it will typically need to go through probate before it can… Continue reading What is probate sale ?
How to buy a house when you are in the process of divorce ?
Buying a house while going through a divorce can be a complex and challenging process, but it is possible. Here are some steps you can take to make the process easier: It’s important to note that the laws and regulations regarding buying a house during a divorce can vary from state to state, so it’s… Continue reading How to buy a house when you are in the process of divorce ?
What is gift letter and how is it used when buying the house ?
A gift letter is a document that is used when a buyer is receiving a gift of money from a family member or friend to help with the purchase of a home. The letter is typically required by the lender as part of the mortgage application process to verify that the money is a gift… Continue reading What is gift letter and how is it used when buying the house ?