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Great work!
"We appreciated very much the way in which you as a team handled the whole process of the listing and sale of our home. From the concise market evaluation using very relevant comparison properties, to the negotiations with the purchaser and the phone calls with the office staff, everyone was very cheerful, helpful and pleasant to work with. The added bonuses of using the moving truck and free boxes were also very creative and helpful. I also liked the team approach you have developed. Great work! Thank you."
Glenn and Elka Strohschein
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Closing or Settlement >Walk Through Woes
Buyers can be a little cranky on closing day if things go wrong during the walk-through inspection. For example, the sellers' dependable old dishwasher might stop midway through its cycle and the bathroom sink might clog unexpectedly. These situations can create anxiety for the buyers and sellers, but such problems are quite common and usually simple to resolve.
Most purchase agreements require that the major mechanical systems and the appliances being conveyed are in working order at the time of the closing. Defects are often discovered during the structural inspection, allowing the sellers plenty of time to have the repairs made. Occasionally there are last-minute breakdowns or defects that are not spotted until the walk-through inspection. In that case, an agreement can be made with the sellers at the closing to escrow funds for the repair or replacement of the items in question.
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| Q |
Which law allows a person to give another individual up to $10,000 a year without any tax consequences?
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| A |
The Federal Gift Tax Law allows both parents to give a child (or anyone) $10,000 each in one year. |
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