Getting a divorce is a life-changing event. It is an emotional time but it is important to make sure your interests are protected. This publication is intended as a high-level outline of potential issues for taxpayers to consider and discuss with their attorneys during the divorce process. There are potentially different considerations under federal law and other considerations not referenced in this document. 

Download this important info https://content.govdelivery.com/accounts/IACIO/bulletins/194f8a1

Buyer's Exclusive Agency the only way to go in a Strong Sellers Market!

Have you missed out on properties that you would have purchased? While that can't always be avoided, we can give you a definite advantage. Our buyers have the option to be exclusive buyer clients, that means our buyer has agreed to work only with us to find them the perfect home. It's a free service we provide and by agreeing to work only with us we put your interests at the top of our priorities.

Just one more service we provide our outstanding clients! Call me Georgia Weaver 712-291-0118 to see how to get exclusive representation to put you as a buyer ahead of the pack.

A SELLER's REAL ESTATE Agency Fee Explained

Think your agent is pocketing that whole fee and not doing enough to earn it?

Think again.

Here are the facts in the Real Estate World!

Real Estate Agency fees to sell a property vary by area and company, for us at Weaver Realtors, we base that REAL Estate Agency fee on what we expect it to cost our company to sell a particular property.

When a property closes, the BROKERAGES that the agents are contracted to (real estate agents are not paid a salary they are not employees, they are independent contractors contracted to a Brokerage), are who gets paid at closing, not your agent.

Once the Brokerage (company) is paid their part of the fee (which is usually divided 50/50), they then pay their respective agent whatever fee or percentage they have contracted with that agent.

Since agents are not employees the fees they receive go to pay advertising costs, auto costs, insurance, continuing education, marketing fees, signage and photography among others.

The brokerage has similar fees to the agent and the additional cost of a brick and mortar building, website/s, administrative assistance, insurance, phone systems, office equipment, building maintenance, etc.

The big thing to remember is, if your property doesn't sell, your agent and the company they represent do not get paid for the work and the money they have put into your property.

Have questions, call me Georgia Weaver 712-291-0118

Some real estate investors are able to hold on to their proceeds from the sale of an investment and agree to pay the tax later, through the implementation of a 1031 Exchange. This is a great way to save for the future!

A 1031 exchange enables an investor to defer the taxes due from the sale of an income producing property into the new or replacement property. This is a great investment option because it provides more money to be reinvested. 

There are some rules and strict deadlines.

Personal use real estate like a primary and second home can not be used in an exchange. The property to be exchanged must be like-kind or real estate for real estate. Rental property can be exchanged for other rental or investment property. 

Timing deadlines are iron clad, the investor must identify the replacement property within 45 days of the sale of the sold or relinquished property. The new or replacement property must be closed within 180 days of the sale of the sold property.

The replacement property must be of equal or greater value, equity and debt than the one being relinquished (Sold).

All net proceeds must be used in acquiring the replacement property. No money can be received by the seller out of the exchange.

A tax deferred exchange may sound difficult, and there are rules, but it is relatively easy. You will need to consult your tax person, work with a professional real estate person, and a company called a qualified intermediary. It is important that the owner of the property be hands off in the transaction for it to be valid. There are also strict rules on who can purchase the relinquished property, as in not a relative.

Additional information can be found in IRS Publication 544.

Need more info? Call me Georgia Weaver, 712-291-0118 - this is one of the best wealth building tools available. 

Delayed MLS Availability Costs Sellers MONEY?

This is a very hotly debated topic in the Realtor world that, in my opinion this practice negatively impacts sellers in our area. 

I am concerned about a trend I am seeing in our market. It is also present in other markets where inventory is low. We have very low inventory and homes are selling quickly, sometimes even before they are put on the multiple listing service (MLS) and before all realtors and buyers are given access to them. 

When that happens today, in our low inventory market, more than likely it is costing the seller money.

How: Most properties are selling for list price or higher, sellers need to agree to very few concessions (like closing costs, delayed closings, etc) to get their property sold. But, when a listed property is available to only one companies (Brokerage) buyers it restricts the number of offers on a property. It does this by limiting the showings to only those buyers represented by the company that listed the property. 

"Do you allow showings before my property is available to all realtors and buyers in this area?"

This is a very important question to ask your Realtor. Better yet, tell your Realtor you do not want any showings until your property has been available on the MLS (Multiple Listing Service) for at least 24 hours. This will ensure you, Mr/Mrs Seller are receiving offers from all local buyers that would be interested in a property like yours. This will also ensure you are receiving the highest price for your property.

As I said this is a very hotly debated topic but for me it is crystal clear. A Realtor is responsible to do what is best for their clients just like an attorney. This practice is not what is best for their sellers. 

Home Improvement Cost VS Value in 2017 If you are doing some home improvements there have been some BIG changes on the return of your investment when you sell your property. Here are 29 projects for home improvements. This is one to print off, I did! http://ow.ly/ZO6H308jevs

Experian Credit Reporting organization now fined for what the other 2 major credit reporters were fined for in January. All 3 top credit reporting organizations have now been fined for misleading the consumer by telling them the credit score they are selling the consumer is the same one they provide to banks etc for financing decisions. The fine a measly 3 Million dollars, both Transunion and Equifax have also been fined for the same fraudulent practice. 

If you purchased your credit score from one or all of these companies over the last few years, I would contact them and insist they refund the fee/s. 

This potentially effects more than the consumer who paid for the inaccurate report. Landlords many times rely on these scores to determine a prospective tenant's eligibility to rent, many landlords request an applicant provide a copy of their own credit report and score that is less than 30 days old. 

http://www.mortgagenewsdaily.com/channels/pipelinepress/03242017-april-the-giraffe.aspx

TransUnion

https://www.transunion.com/customer-support/contact-us