Sell House

SELL THIS HOUSE ~ HOME -- Tulsa, OK--Nicki Unertl Nicki, Laurie, and Laurie's two kids have lived in their three-bedroom Tulsa home for six years. It's time for a move to the country, so they ve got to get their place ready to sell. Homes in this neighborhood usually sell within eight days, but not theirs! So what's the problem? Nicki's preference for dark colors is reflected in the living room, dining room, and kids' rooms. The whole house needs to be brightened up. Ashley's room is a magenta nightmare, and with its baseball theme, John's room could pass for Yankee Stadium. more » See what they did » Want to see your home on Sell This House? Click here to find out how. REMIND ME TO WATCH Would you like to receive special updates, reminders, and related info? Then sign up! Watch the preview -- This Old House meets Candid Camera in SELL THIS HOUSE™ SELL THIS HOUSE™ gets inside the mind of the buyer and the heart of the seller with real life experiences and great advice on how to prepare your house for the market. Each week features homeowners desperate to sell and prospective buyers secretly videotaped as they express their observations upon first seeing the house. Enter a real estate and home decoration expert who recommends changes. In the end, the house is transformed (on a budget) and the buyers are brought back. Will the house sell? For how much? To whom? You'll learn the answers as participants experience the ups and downs of SELL THIS HOUSE™.

Investment Property Ordinarily, when

How to Do a Tax-Deferred Exchange on Investment Property - eHow.com Clear Instructions on How To Do (just about) Everything Web eHow.com Home Finance & Business Center Taxes How to Do a Tax-Deferred Exchange on Investment Property Ordinarily, when you sell property for a profit and receive cash, the taxman is there to take his cut. A 1031 tax-deferred exchange on investment property allows you to roll over the gain from the sale of one investment property into another investment property without being taxed. (Note that this opportunity is available only on investment and income property - not on a personal residence.) Steps: 1. First, understand three basic rules: 1) The purchase price of the replacement property must be equal to or greater than the net sale price of the property you're relinquishing; 2)All cash or other proceeds received from the sale of the relinquished property must be used to acquire the replacement property; and 3) The properties must be of "like-kind," which means they must be the same type of property - must be, for example, property held for productive use in a trade or business or property held for investment. 2. Select an exchange facilitator to handle paperwork and to receive the funds from the proceeds of the sale. 3. Sell your investment property to a buyer; you must inform the buyer that you are doing a tax-deferred exchange. 4. Identify a replacement property within 45 days of the close of escrow or the date you transfer title of the investment property you relinquished. The address of the new property must be written down, signed by you and received by the intermediary or exchange facilitator within this 45-day period. (Failure to meet the identification requirements will make the sale of the relinquished property a taxable event.) 5. Acquire the identified replacement property within 180 days of the close of escrow or transfer of title of the investment property you relinquished. When you purchase this replacement property, you must make the seller aware that you are doing a tax-deferred exchange. Tips: When you are looking for a property to acquire, you may identify up to three properties of any value; one or more of these must be acquired. One property may be exchanged for several, or several properties may be exchanged for one. Unimproved real property held for investment qualifies for this type of exchange. Warnings: It's important to carefully plan the exchange with the assistance of an experienced and competent intermediary, preferably one who is completely familiar with the tax code in general as well as Section 1031. You, as the investor, may never receive or have access to proceeds from the sale of the relinquished property. Please Share Your Tips with Us More Resources: Contribute to eHow: Write an eHow Article Suggest a Topic Give Us Feedback on This Article Related eHows: Invest in Rental Property Pay Taxes on Your Rental Home Get Tax-Free Profit From Your Rental Home Calculate the Tax Savings of Owning a Home Things You'll Need: calculators personal financial software real estate attorneys 1031-exchange facilitators Project Details: Skill Advisory: Moderately challenging New! -- Related eHows: Invest in Rental Property Pay Taxes on Your Rental Home Get Tax-Free Profit From Your Rental Home Calculate the Tax Savings of Owning a Home Check out Thousands of How-To Solutions in eHow's Centers Automotive Careers & Education Computers & Home Electronics Family & Relationships Finance & Business Food & Entertaining Health Hobbies & Games Holidays & Traditions Home & Garden Personal Care & Style Pets Sports & Fitness Travel How to: --? Web eHow.com Home | Site Map | About Us | How To Books | Link to eHow Subscribe to the eHow of the Day Mailing List : Have the eHow of the Day appear on your My Yahoo! Page: Add the eHow of the Day to your RSS reader: © 1999-2005 eHow, Inc. How things get done. Use of this web site constitutes acceptance of the eHow Terms of Use and Privacy .

Real Estate Broker Code

DRL - Real Estate Broker Home Login About DRL Site Map Contact DRL FAQ Business Professions Health Professions All Boards Definition Download Help Duplicate License Education FAQs Fees Forms Practice FAQs Obtain License Organizations Renew Online Rules Statutes Verifications What's New Real Estate Broker Code Book A real estate broker is an individual who: a. For another, and for commission, money or other thing of value, negotiates or offers or attempts to negotiate a sale, exchange, purchase or rental of an interest or estate in real estate; b. Is engaged wholly or in part in the business of selling real estate to the extent that a pattern of real estate sales is established, whether or not such real estate is owned by such person. Five sales in one year or 10 sales in 5 years is presumptive evidence of a pattern of sales. c. For another and for commission, money or other thing of value, negotiates or offers or attempts to negotiate a sale, exchange, purchase or rental of any business, its goodwill, inventory, fixtures or an interest therein; or d. Is engaged wholly or in part in the business of selling business opportunities or goodwill of an existing business or is engaged wholly or in part in the business of buying and selling, exchanging or renting of any business, its goodwill, inventory, fixtures or an interest therein. e. For another, and for commission, money or other thing of value, negotiates or offers or attempts to negotiate a sale, exchange or purchase of a time share. f. Is engaged wholly or in part in the business of selling time shares to the extent that a pattern of sales is established, whether or not the time shares are owned by such person. g. For another, and for a commission, money or other thing of value, promotes the sale, exchange, purchase, option, rental or leasing of real estate or business opportunities. This paragraph does not apply to a person who only publishes or disseminates verbatim information provided by another person. For exceptions to the above, see s. 452.01(3), Wis. Stats. No person may engage in or follow the business or occupation of, or advertise or hold himself or herself out as, or act temporarily or otherwise as a broker without a Wisconsin real estate brokers license. The purpose of licensure is to ensure that only qualified people handle real estate transactions and supervise licensed salespersons in Wisconsin. It ensures proper listing, selling, buying, exchanging, leasing or renting of real property or a business opportunity. Last updated: Wednesday, January 7, 2004 Wisconsin Department of Regulation & Licensing. All Rights Reserved. If you have suggestions about how to improve our website, contact our webmaster . Disclaimer | Privacy Statement

Buy Home

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Home Equity Lending The

FRB: Press Release--Interagency risk-management guidance for home equity lending--May 16, 2005 Joint Press Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation National Credit Union Administration Office of the Comptroller of the Currency Office of Thrift Supervision For Immediate Release May 16, 2005 Agencies Issue Credit Risk Management Guidance for Home Equity Lending The federal bank, thrift, and credit union regulatory agencies today issued guidance that promotes sound risk management practices for home equity lines of credit and loans. The agencies have found that in some cases credit risk management practices for home equity lending have not kept pace with the product's rapid growth and eased underwriting standards. The rise in home values, coupled with low interest rates and favorable tax treatment, have made home equity lines of credit and loans attractive to consumers. To date, delinquency and loss rates for home equity portfolios have been low, due at least in part to the modest repayment requirements and relaxed structures of this lending. However, the agencies have identified risk factors that, along with vulnerability to interest rate increases, have attracted scrutiny, including: Interest-only features that require no amortization of principal for a protracted period; Limited or no documentation of a borrower's assets, employment and income; Higher loan-to-value (LTV) and debt-to-income ratios; Lower credit risk scores for underwriting home equity loans; Greater use of automated valuation models and other collateral evaluation tools for the development of appraisals and evaluations; and An increased number of transactions generated through a loan broker or other third party. The agencies note that active portfolio management is especially important for financial institutions that project or have already experienced significant growth or concentrations in higher risk products, such as high LTV, limited documentation and no documentation interest-only, and third-party generated loans. Like most other lending activity, home equity lending can be conducted in a safe and sound manner with appropriate risk management systems. This guidance outlines the agencies' expectations for sound underwriting standards and effective credit risk management practices for a financial institution's home equity lending activity. # # # Attachment (43 KB PDF) Media Contacts: Federal Reserve Susan Stawick (202) 452-2955 FDIC David Barr (202) 898-6992 OCC Kevin Mukri (202) 874-5770 OTS Erin Hickman (202) 906-6677 NCUA Cherie Umbel (703) 518-6330 2005 Banking and consumer regulatory policy Home | News and events Accessibility Last update: May 16, 2005