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Category Archives: Selling

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What Should The Purchase Agreement Include?

Sandy Gadow

The Purchase Agreement (or Residential Purchase or Sales Agreement and Deposit Receipt) is the overriding document that will dictate the terms of your purchase or sale.  It is a legal, contractual document, and the provisions are binding.  Whether you have … Continue reading →

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6 Tips to Ensure a Smooth House Closing

Sandy Gadow

Real estate closings can be fraught with complications and setbacks, but they can go smoothly and quickly — if planned for carefully. You may think that an “all cash” deal would go through closing faster than a sale that involves … Continue reading →

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When Selling a House, Avoid Awkward Misunderstandings Over Fixtures and Furnishings

Sandy Gadow

State-of-the-art appliances, sleek lighting fixtures and tasteful window treatments can all make a memorable impression on potential home buyers. Silk curtains that match the wall or floor coverings, elegant chandeliers or crystal knobs on cabinet doors are features that buyers … Continue reading →

Posted in Closing/Settlement, Selling | Tagged appliances, fixtures, furnishings, personal property, real property | Leave a reply

A Foreign Buyer Brings Complications to a Real Estate Deal

Sandy Gadow

If you find a foreign buyer for your property, you may be concerned that selling to a non-U.S. citizen might complicate the closing process. Will additional paperwork be required? Will there be problems with clearing the buyer’s funds? Are there unusual challenges if the potential buyer intends to obtain a mortgage?

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Posted in Selling | Tagged foreign buyer, residency | Leave a reply

Will I Have to File a State Income Tax Return?

Sandy Gadow

There are currently seven states which do not require you to file a state income tax return. States with no individual income tax Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. The two states in Blue, Tennessee and New … Continue reading →

Posted in Buying, Selling, Taxes | Tagged income tax | Leave a reply

Will My Escrow Agent Have to Report My Sale to the IRS?

Sandy Gadow

The Tax Reform Act of 1986 required anyone responsible for closing a real estate transaction, which may include the escrow agent, title company, or attorney, to report a real estate sale or exchange to the IRS on Form 1099-S. In … Continue reading →

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Closing Checklists

Sandy Gadow

Buyer’s Home Closing Checklist Have you made a final walk-thru inspection of the property? Is the condition of the house or property as it should be? Are there any personal property items left behind by the Seller. Is everything in … Continue reading →

Posted in Buying, Closing Costs, Closing/Settlement, Selling | Leave a reply

State by State Closing Guide

Sandy Gadow

Here is a summary of closing practices for each of the United States. This is a general reference guide. Local practices within your city or county may differ.

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Posted in Buying, Closing Costs, Closing/Settlement, Learn, Selling, Title Insurance | Leave a reply

How to Avoid Becoming Enemies When You Buy a House With Friends

Sandy Gadow

By Sandy Gadow Special to The Washington Post The trend of buying a house with friends or a live-in partner has become increasingly popular. Family members (and even neighbors) often join together to purchase residential or vacation properties for their … Continue reading →

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Why Home Buyers Need Contingencies

Sandy Gadow

By Sandy Gadow Special to The Washington Post So you’re buying your first house. You’ve gotten preapproved for a mortgage, researched a plethora of neighborhoods and after months of touring dozens of houses you’ve finally found what you think is … Continue reading →

Posted in Buying, Contingencies, Selling | Leave a reply

Open Permits Can Throw a Wrench into Closings for Home Buyers

Sandy Gadow

By Sandy Gadow Special to The Washington Post Buyers usually have no reason to suspect that an outstanding permit exists on a home they intend to purchase. After all, repair or remodel work may not be obvious during a visual … Continue reading →

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How Closings Are Handled State by State

Sandy Gadow

Real estate closings may be handled by escrow companies, title companies, lawyers, or a combination of one or more of those. Some lenders may have their own closing department. A revised explanation of how a real estate closing will be … Continue reading →

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Successful Mediation — A Guide

Sandy Gadow

Mediation is the process in which a neutral third person, the mediator, helps parties reach a settlement to their dispute by opening up lines of communication, evaluating positions and issues involved, identifying each party’s real needs and arriving at a … Continue reading →

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Can Mediation Save Our Deal?

Sandy Gadow

Jack and Eliza searched Fayette county in Virginia for the right house. Not only must it be in good condition, have a nice yard, be in a good school district, but it had to also be a show place for … Continue reading →

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How to Choose a Title Insurance Company

Sandy Gadow

Choosing the right escrow officer or title attorney to handle your sale can mean the difference between a smooth and rapid closing or a complicated, delayed closing, fraught with anguish. Most often either the buyer or seller may choose the … Continue reading →

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Steps to a Cakewalk Closing

Sandy Gadow

New York Times April 27, 2012 There’s no lack of information on the Internet about real estate closings. But according to Sandy Gadow, the author of “The Complete Guide to Your Real Estate Closing” and a Sotheby’s broker who has … Continue reading →

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What Your Closing Agent Does for You

Sandy Gadow

Although you may not feel you need to speak with your closing agent until you are well into the purchase process or possibly not until the day of closing, it is a good idea to contact the closing agent early … Continue reading →

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Is It Time to Consider a Short Sale?

Sandy Gadow

Lona Hamilton has been struggling to make her mortgage payments for the last year and a half. She has used up all her savings, borrowed from friends and family, and now wonders if she shouldn’t consider putting up her home … Continue reading →

Posted in Loans, Selling | Leave a reply

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