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Always pay for a tank scan to check for underground oil tanks during your purchase contract's inspection period when you buy property.
Home mortgage rates hit 5%
Never use a seller’s asking price as a gauge of market value for a property. A property owner may request any price for his property-this may or may not be anywhere near market value. The current market value of a residential property is based primarily on what a similar property has sold for in the last 6 months.
From 1992-2005, home prices went up 205% while income during that period only rose 10%
Ultimately, the true value of the property is what someone is willing to pay for it now.
The IRS gives you 45 days from the closing date on sale property to identify up to 3 replacements for a 1031 (like kind) exchange
