Serving Salt Lake's GLBT community
since 1992
and the rest of the alphabet too
Buyer's Myth: I'll get a better deal if I just call the agent shown on the yard sign.
Fact: Not necessarily. The listing agent has a contractual and ethical obligation to get the best price for the seller. Even under the condition of Limited Agency the agent is not allowed to discuss price with you.
Buyer's Myth: I've got good credit and a solid job, but no savings so I can't buy a house.
Fact: There are community grant/loan moneys available to help qualified buyers into a home. I've used this little known secret stash for many buyers, and I can recommend several lenders who specialize in buyers like you.
Seller's Myth: I would like to sell my home and get something smaller but the capital gains tax would kill me.
Fact: The new tax laws allow a single home owner to profit up to $250,000 (couples up to $500,000) on the sale of a primary residence every two years TAX FREE. It just isn't going to get any better than this. Talk to your tax advisor for specifics.
Buyer's Myth: If I call an agent to help me buy a home they will try and sell me only their brokers listings.
Fact: All MLS Realtors® have access to all multiple listing service listings. An ethical agent would never limit your home selection to those of one brokerage. This is one of the reasons that choosing the right Realtor for you is so important. A good Realtor does not "sell" you a home but rather works as your agent, sifting through all the available homes, finding those homes that meet your requirements, and then negotiating a contract in your best interest.
Seller's Myth: If I sell my rental income property I have to perform a complicated and risky 1031 exchange or pay big time in capital gains tax.
Fact: Two thoughts: first, a 1031 tax deferred exchange is not that scary when handled by a real estate professional. Second, theoretically one could convert a rental property to your primary residence for two years and sell it paying no tax -- a loophole that may not last forever. (insert the painfully obvious "talk to your tax advisor" disclaimer here)
And remember...
Whether you're moving up, moving in or just moving on, call me today!
9 Questions Sellers Always ask What's in it for Me (meaning you) Queer in Utah But, We're Just Starting to Look Return to Home Page
Brad Dundas
Stonebrook Real Estate Inc.
6375 South Highland Dr.
Salt Lake City, Utah 84121
bradley@xmission.com
Phone: 801.550.0330 FAX: 801.463.6114
Copyright © 1996 Revised 04/2008 Brad Dundas
