When real estate deals go wrong: The top 10 issues this expert sees most often. https://ow.ly/PzCO50UOlbv . . #realestate #homebuying #property #valuations
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When real estate deals go wrong: The top 10 issues this expert sees most often. https://ow.ly/Zhxc50UOlbz . . #realestate #homebuying #property #valuations
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Real estate deals can be complex, and even small oversights can lead to major issues. This article highlights the top 10 problems commonly encountered in real estate transactions and offers insights to help buyers, sellers, and agents avoid costly mistakes. A must-read for anyone navigating the real estate world. Bob Aaron https://lnkd.in/e6mJiKDw
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Inheriting a property might seem like a financial windfall, but it often comes with unexpected costs. At Northview Home Buyers, we’ve identified four key hidden expenses to be aware of: 1️⃣ Taxes: Annual property taxes and potential capital gains taxes if you sell the property. 2️⃣ Utilities: Essential services like electricity, water, and gas must be maintained, even if the property is unoccupied. 3️⃣ Cleanup & Maintenance: From minor repairs to major renovations, properties often require investment to retain or increase their value. 4️⃣ Legal and Family Disputes: Handling disagreements among heirs or legal fees to resolve ownership issues can add up quickly. Understanding these costs is essential for planning the next steps with your inherited property. If you're navigating these challenges, give us a call—we're here to help. Visit our blog to learn more: https://lnkd.in/dUCqyB3J #NorthviewHomeBuyers #RealEstateInsights #InheritedProperties
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1. Most property investors are aware the “No cause eviction” 90 days notice is coming back in for tenants. This is one of several tenancy law changes which are going to be enacted early in the 2025 calendar year. There are other changes around notice periods. Tenants will only need to give a landlord 21 days notice to end the tenancy (currently 28 days) and landlords will only need to give 42 days’ notice to sell, move back in, develop or renovate. 2. Deadline sale, By Negotiation. One of my biggest bug bears as a property investor, as I’m sure it is for first home buyers, is not seeing a price on a property for sale. I know as a property investor I’m more likely to pursue a property that has a fixed price or a price range. For property investors its all about running the numbers. 3. The change in the Brightline Test back to 2 years from 1st July 2024 is creating some interesting conversations. What’s all the fuss about? Previously the focus has been on the purchase date and projecting that date forward 2, 5 and 10 years. However, properties sold from 1st July 2024 that have been held for more than 2 years fall outside of the Bright Line Test. The sale date becomes the initial focus because the 2 years is retrospective as well as being the new time frame going forward.
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A status certificate is crucial for understanding the financial, legal, and operational conditions of a condominium corporation before buying a unit. 🔵 Provides important information on the condo community’s overall health, influencing decisions for both potential buyers and current owners. 🔵 Contains details on potential legal actions and judgments against the condominium corporation, which affect common fees and potential special assessments. 🔵 To better understand its importance, think of a status certificate review as similar to a home inspection (not a replacement for one), allowing your Lawyer to identify potential problems and ensure safety. 🔵 Offers a detailed look at the condo corporation’s expenses, income, and current year’s budget. 🔵 Includes a reserve fund essential for future repairs and replacements, supported by projections from engineers and accountants. Covers everything from leasing restrictions to pet policies. Feel free to ask if you have any questions or need assistance in any way. I’m here to help! Joette Fielding, Broker 📧 joette@joettefielding.com 📞 289-242-6640 🌎 www.joettefielding.com #RealEstate #HomeBuying #StatusCertificate #PropertyInvestment #RealEstateTips #Condominiums #RealEstateAdvice #HomeOwners
