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6 December 2013 | 10 replies
The standard contract we use in Florida has very specific languages on who's to pay for what...CLOSING COSTS; TITLE INSURANCE; SURVEY; HOME WARRANTY; SPECIAL ASSESSMENTS:105* (a) COSTS TO BE PAID BY SELLER:Documentary stamp taxes and surtax on deed, if anyHOA/Condominium Association estoppel feesOwner’s Policy and Charges (if Paragraph 9(c)(i) is checked)Recording and other fees needed to cure titleTitle search charges (if Paragraph 9(c)(iii) is checked)Seller’s attorneys’ feesOther:106 If, prior to Closing, Seller is unable to meet the AS IS Maintenance Requirement as required by Paragraph 11107 a sum equal to 125% of estimated cost to meet the AS IS Maintenance Requirement shall be escrowed at108 Closing.
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12 December 2013 | 11 replies
As @Steven Hamilton II says the land is never depreciated.There are some components of the land that could be depreciated, but are typically not itemized as such.For example:Trees & shrubs have a certain life span and destroyed over timeSidewalksDrivewaysUnderground pipesSeptic systemsParking lotOutside light standards
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3 December 2013 | 7 replies
I know that lease agreements vary from state-to-state but do you have to include a clause within the lease agreement that utilities are not included or is that typically the standard?
3 December 2013 | 4 replies
So for example, a taxpayer that lost timberland property used for logging could not replace that property with a parking lot and qualify for non-recognition under Section 1033.Property that has been condemned enjoys more liberal treatment, and instead of being judged by the “similar or related in use” standard, is determined by expansive definition of like-kind similar to that of Section 1031.
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3 December 2013 | 0 replies
With more stringent banking standards imposed by the international regulatory body, the Basel III, many industry insiders say, “No way!”
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5 December 2013 | 24 replies
The following is the standard late fee policy listed by myhomespot.com.
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10 December 2013 | 10 replies
Even better would be to not make any payments during rehab and pay Principle and Interest in full at closing, but I don't know if this is standard practice?
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5 December 2013 | 13 replies
Can anyone walk me through a standard eviction that they've done, from a check not showing up to the tenant getting removed?
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6 December 2013 | 4 replies
I can see that a target cash flow could vary by area but ROI I think should be pretty standard.
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11 December 2013 | 2 replies
But most of his "property" (or business value) consisted of intangible assets (verbal contracts for locations, a kettle corn recipe, etc.).I'm guessing that these are standard Assignment documents that assign the Purchase Contract to the Qualified Intermediary so that the purchase will qualify as part of the buyer's tax-deferred exchange (1031 Exchange).