Well, you’ve landed at the right place! Authentic HomeBuyer makes a fair all-cash offer for all your properties in the region. And the best thing is we buy houses in every condition!
Let us take away your burden of the unwanted property and bring your mind to peace!
There are varying situations where I can help you inclusive of:
If you have a property in North Dallas, you don’t need to roam with a sign that reads, “Buy My House.” I am just a call away, ready to give you a fair cash offer on your house in 24 hours and close on the day of YOUR choice.
Authentic Homebuyer provides the easiest way to sell your damaged and unwanted property. But that’s not all! I have an exclusive feature that makes the process of selling your house more than a pleasant experience.
Whether you can’t pay thousands of dollars to fix your unwanted place up or you are dealing with difficult personal issues or your property is located too far away to deal with, selling your house conveniently is possible with me. I know the value of time unlike those retail buyers who leave your property in escrow for weeks or months. I can carry out the process within a week.
Don’t get lost in the shuffle with big-box homebuyers or costly real estate agents. I know selling a house can be a tough situation. Therefore, it is always important to think from a local perspective and come up with a cash offer solution that can certainly meet requirements.
You never know when you fall on hard times. If you are currently suspecting something similar, we can help you out. Don’t let your home go into foreclosure. We understand your need for quick cash, faster enough than the bank forecloses on the property. Why wasting time in looking for some agent? We can put forth an offer within 24 hours and let walk away mortgage-free with cash, that too in a week.
Understanding what happens when you inherit a house, as well as addressing the tough financial and emotional decisions on what to do with the home, can be intimidating.
What to consider when you inherit a house:
All three of these relate to each other. For most people, deciding what to do with the inherited property is based on the financial and legal responsibilities relating to the home, which in turn impacts how you’re taxed.
Let’s discuss the three considerations and the related responsibilities—both financial and legal.
If you inherit property, you may wonder if you’re responsible for paying taxes. Luckily, there’s no federal inheritance tax, although some states do have inheritance taxes. But for most people, inheriting property doesn’t trigger an immediate tax liability.
When a property is inherited, the IRS establishes a fair market value (FMV), which is the new basis for the property. This is called a step-up basis. This new valuation influences future taxes when the property sells.
Capital gains are a special type of tax relating to the profit generated by an asset, such as a house. The step up in basis means you’re only subject to capital gains taxes if you sell the home. You’ll pay taxes on the difference between the established fair market value at the time of inheritance and the selling price.
If your parents originally bought the home in the ’80s for $30,000, but its FMV is $400,000, your new tax basis is $400,000. If you sell the property for $400,000 shortly after inheriting it, you wouldn’t be subject to any capital gains taxes because there’s no profit. However, if you sell the property for $425,000, you’d pay capital gains tax on the $25,000 profit.
If you keep the home, you may be eligible for a capital gains exclusion. According to the IRS, you may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse, if you meet two conditions:
Inheriting a home can be a blessing or a burden, depending on several factors:
If the property has an open mortgage, it’s important to discern the type of mortgage and whether it’s due on sale or assumable. Most mortgages can be assumed by the mortgagor’s heirs, meaning the heirs take over payments and pay the remaining debt according to the original loan terms.
However, some loans, like reverse mortgages, specifically state that the unpaid balance is due on sale or when the mortgagor passes, requiring the heirs to sell the home to settle the debt.
The condition of an inherited property often impacts what the heirs decide to do with it. If the property hasn’t been maintained, it could need costly and time-consuming improvements. Coordinating a small- or large-scale renovation is a big task and should be carefully considered before deciding whether to keep the home or sell it.
Additionally, the heirs are now responsible for paying taxes, insuring the property, and maintaining it on an ongoing basis. For some, these responsibilities are too large of a burden — in this case, it may be easier to sell the home as-is. For others, it may make sense to fix up the home and keep it.
It’s fairly common for multiple siblings or family members to share ownership of an inherited house. For some families, this isn’t an issue. For others, having multiple heirs complicates things because each person has different needs and opinions. One sibling may prefer to sell the home for cash now, while another would prefer renting it for long-term income. One sibling may even want to move into the house.
The number of people sharing ownership and how they communicate and interact with each other often plays a large role in what’s done with the property.
One option when inheriting a home is making it your primary residence. If you want to move into a house with an outstanding mortgage, determine whether the debt obligation on the home makes financial sense. The mortgage balance may be more than the home is worth, the principal and interest payment (P&I) may be more than you can afford, or the ongoing maintenance (including property taxes and insurance) could be too high. Consider the cost of keeping the home before moving into it.
If there are no debt obligations and the home is owned free and clear, moving into it can let you sell your old primary residence and live in the new home debt-free. This is a great way to keep the home in your family, letting you make new memories where many good times were shared before.
If there are multiple heirs sharing ownership in the house, deciding who will move into the home can be challenging. For most, this option makes the most sense when only one person inherits the property.
When you move into an inherited home, you’re responsible for repaying any debt, maintaining the property, paying taxes and property insurance, and all other financial and legal responsibilities for the home.
If you have a property in North Dallas, you don’t need to roam with a sign that reads, “Buy My House.” I am just a call away, ready to give you a fair cash offer on your house in 24 hours and close on the day of YOUR choice. Call us today and get a Fair Offer FAST.
It’s not just tenants who have trouble making payments on their homes each month. Landlords and real estate investors also often struggle with making the monthly mortgage payments on the properties that they own. If you’re in this group, here are four proactive steps you can take to avoid falling behind on your mortgage payments each month:
Do everything you can to limit the number of vacancies at your properties.
We know that this may be easier said than done, but it really is the best way to guarantee that you have enough money coming in every month to pay the mortgage on your rental properties. This means that you must keep advertising for new tenants before you think you may need them. You also need to avoid putting off the task of qualifying tenants and filling up your rental units, due to a lack of time or being focused on other things. Keeping your properties full is a key factor in the success of any REI business, so make sure you have a good routine in place to quickly handle vacancies in an efficient manner.
Work hard to find high quality tenants for your rental properties.
While keeping your properties full is critical to the success of your rental property business, finding the right tenants is as equally important. After all, what good is it to fill up your property with tenants who never pay their rent or always pay it late? Either scenario means that you won’t have the money that you need to keep your property’s mortgage up to date. Likewise, to get this action step right, you must check out your potential tenants to ensure they have good rental payment histories and a track record of limited damages with prior landlords. Taking the time to run background checks and credit checks for every rental application will help you avoid problem tenants and help keep the funds rolling in each month from your rental properties.
Look for long-term tenants during the screening process.
Even if a rental applicant has a good payment history, it doesn’t always mean that they’re the best tenant for your property. That’s because while paying the rent on time is important, how long a tenant plans to rent from you is also another key factor, when it comes to ensuring the proper cash flow to keep current with the monthly payments on your rental property.
Short-term rental agreements should be avoided whenever possible, because they cost you extra time and extra money, since you must advertise, clean, and redecorate your rentals more frequently, when you have short-term renters. Therefore, you must ask the right questions up front, when talking to potential tenants, to find out if they plan to rent your property on a long-term basis.
Always handle property maintenance issues quickly.
One of the fastest ways to run-off high-quality tenants is by being slack when it comes to maintaining your properties. Because at the end of the day, good tenants who pay their rent on-time every month naturally expect to get a quick response to any maintenance issues that come up. To keep your long-term tenants happy and willing to renew their leases at your properties when the time is due, be sure to have the proper maintenance staff in place before a small repair turns into a major emergency at one of your properties. With this, it’s important to keep in mind that the Tenant-Landlord laws in some states allow tenants to break their leases within a matter of days for outstanding repairs that make a rental uninhabitable, when the proper “Right to Cure” notice is served to the landlord and they fail to fix the problem in the required timeframe. To avoid this type of drama and potential loss of a good long-term tenant, you must be prepared to make all needed repairs in a timely manner.
Finding high quality tenants is much like searching for the right long-term romantic partner. The landlord must do most of the legwork to get the benefits of the relationship, since every real estate investor wants to maintain the value of their property and keep the mortgage paid on time. When it comes to the landlord-tenant relationship, it’s also always the small things that make a difference, in terms of attracting and keeping the best tenants in competitive rental markets. That’s why it makes good sense to always go above and beyond, to build strong relationships with your tenants from the start. Little extras, like dropping off a move-in welcome basket, offering a new tenant referral bonus program or giving tenants incentives like discounted rents for longer term leases, go a long way towards building stronger relationships with tenants, creating a win-win for both parties.
There are many ways to sell real estate in today’s market. But it can be confusing comparing all of the options. We can help you figure out the best way to sell your home or rental property fast, no matter what situation you’re in.
Going through a divorce brings on extreme emotions, and having to deal with selling a home is one of the last things you’d want.
“I try to teach people to think with their brain not their heart,” says Laurel Starks, divorce real estate expert and author of Divorcing the House: A Guide to Understanding Your Options, the Pitfalls & Whether You Could-or Should-Keep Your Home in Divorce. She also is owner of Starks Realty Group in Southern California.
“This is a business decision, and the decisions you make now will affect your future. How you rebound from this divorce is directly related to the decisions you make when you are in the divorce,” she adds.
In many of the contentious divorces she has been involved in, the marital home can become a source of revenge, strife and sometimes financial ruin. That once important financial asset to the couple now becomes a chess piece.
But Starks has given advice to thousands of couples and teaches lawyers and real estate agents that it doesn’t have to become a tug-of-war.
The sale of a house usually comes because one of the two involved can’t afford it. The same income that went to support one household is now going to two households, and the cost of divorce can be outlandish.
The cost isn’t limited to lawyers’ fees. One spouse has to find new furniture. You no longer qualify for your cell phone’s family plan. Someone has to find a health insurance plan. The list goes on and on, and the expenses can pile up.
Here is Starks’ best advice for those selling a house during a divorce to give people an idea of how to come out of it financially OK and ready for their new life:
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Through all the court dates, the doubts and the anger, self-care will become very important. You need your strength and best wits about you. You also need to believe that your best days are ahead, she says.
“Believe that this too shall pass. For me to have a client call me two or three years later, I sometimes don’t’ even recognize them as a person. All that toxic hell they were living through is over.”
Starks does not advocate remaining married to the mortgage. If one person can’t refinance the mortgage, then sell the property.
You are paying a lawyer to be smart for you, but some lawyers and even judges think that if you sign off on the title then you are signing off on the mortgage. That is not true, she says.
Many times, one spouse does not want to sell the house, but there is a court order to do so. That anger causes the devil to come out and ruin parts of the house – or they sabotage an open house by not keeping the house clean.
“One time, we had to have the wife evicted during the escrow process. She sabotaged the sale, and now the court is sanctioning her. She has to pay her husband’s attorney fees now. It’s just dumb,” Starks says.
Starks has seen in many divorces where the spouses themselves don’t know who is on the deed or if there are any judgments or liens against the house – including from the IRS. You need to find out all that stuff including the balance on the mortgage.
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