Archive for category Taxes Property

Learn The Facts On Property Taxes Responsability When Selling A Property

Posted by guru1 in Taxes Property on June 22nd, 2011

When you are selling a property and it is in the middle of a property tax year, the seller is responsible for the property taxes up to the day of closing after which time the leftover tax is due by the purchaser. Now some people are very unaware of this fact when they close on a property and usually find out at the closing. The seller will bring a check along for their part of the taxes and the seller’s mortgage company receives the check, which is deposited in the buyer’s escrow account. This however is only one option presented for coving split property taxes.

Many times the seller’s mortgage company will keep the funds and send it directly to the property tax office at the appropriate time of year. This rare naturally, but has been done in the past. It all depends on the new mortgage company for the buyer and the mortgage company for the seller. The right way many are convinced is to give the monies to the buyer’s mortgage company and have them send the check to the property tax office by passing the arbitrator, which is the purchaser. This ensures the buyer’s mortgage lender that the money is indeed going for the property taxes.

You might wonder how they divide up property taxes and for a year. The mortgage lender of the seller will take the total property taxes owed from the past year and divide this by twelve months. After finding an once a month total due each month, they then will divide the number of days in the month of the closing the consumer had the property in their name by the monthly amount. This may give a prorated property tax sum owing by the vendor. The same is done to calculate the remainder of the months for the buyer.

The lottery credit is generally awarded to the purchaser. If the lottery credit is smaller than the previous year, you may have to add some money to your escrow account to pay the property taxes. If the lottery credit is littler, you will see a tiny refund coming your way. This amount however is rarely much, it might be as high as 50 greenbacks or as low as 5 bucks that you would owe or receive money back for unless there are more circumstances you are ignorant of with the taxes.

You never need to stress about the property taxes when a property change occurs, the mortgage companies wouldn’t permit the vendor to forget their share. There are officers of the mortgage company that have special jobs and one is the property tax issues and insurance as well.

Your first year of property taxes is always your best, it can change after that, particularly if they raise your taxes after a sale of the property and you aren’t escrowing sufficient funds to cover the raise. Your home loan company made change your regular payment to cover this issue.

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Land Investment Pays Off | Ethos Overseas Rates Top

Posted by Loans Guru in Taxes Property on April 25th, 2011

Land Investment is very similar to property investment in terms of it’s all about location, location, location.

Land can be purchased amazingly cheaply or incredibly expensively but it all comes down to you really do get what you pay for.

Take Bulgarian land for example. The average price per square metre of agricultural land can be as low as £2-£3 per square metre, sometimes even lower. But to get any land that is actually worth purchasing you would need to spend £4-£10 or even more. However, too many people get caught up on price and prefer to buy huge fields of sprawling land for a cheap price rather than make a proper investment in something that actually has demand and a reason to increase in price and more imporantly an end user to sell to.

The Ethos Overseas land review on the “Land Review” website proved that Ethos Overseas continue to be a force to be reckoned with when it comes to land investment.

The Land Review website gave Ethos Overseas top marks in the land industry for selecting well priced land that balanced cost with reward. Ethos Overseas have taken the bold step of steering clear of the really cheap land to instead provide a slightly more expensive land investment but one that in turn actually provides real chance for large capital growth and even often combines a guaranteed rental income too.

Land is becoming rapidly more attractive to property due to lower investment levels which mean often less capital but also less need to mortgage meaning no loss in profits due to interest payments.

As Ethos Overseas also rightly points out as well, land investment is more attractive to property due to the fact that there are fewer, if any running costs. There is no maintenance, council tax or other such fees or worries when renting out property.

Ethos Overseas was seen to be top of the land investment industry thanks to its proven track record over the last 8 years combined with an agressive and forward thinking approach to the way it sources land. Ethos Overseas follow a strict criteria that they do not stray from simply to meet budgets or appear cheap. Basically, if Ethos Overseas thinks it’s found an area or parcel of land that will make money then they aquire that land regardless of cost rather than simply going for the cheap land that inevitably sits around for many years before making the client any money.

Land investment has spread out from the UK with destinations such as Brazil and Bulgaria becoming more and more attractive due to their “emerging market” status that provides much more potential for rapid growth than an already established market such as the UK or US.

Ethos Overseas currently seems to mainly target Bulgaria although Ethos Overseas do have land in various other countries across the World.

The main thing to remember with land investment is to treat it like you’re buying a property. Think about the location and think about whether it has the factors that will stimulate growth. Never just look at a cheap price!

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