Know How You Can Save Tax While Selling A House

Know How You Can Save Tax While Selling A House

Selling a house in Houston? Well, if yes, you must know that you can save a plenty of taxes while selling a home in Houston or across any corner of the globe. However, there are certain tax tips that should be followed in order to avoid paying a hefty amount of tax while selling a house.

Here are some of the common tips that are usually ignored while selling a home. Follow these tips to sell your home like a tax saving pro!

1. Pass Ownership & Use Test While Selling a House:

Selling houses at different time period can result in different results. For example, if you are selling your home within the first 3 years of your purchase, the capital gain will be termed as a ‘short term capital gain’ and is levied with a marginable tax. On the other hand, if you plan to sell your home after 3 years of possession, it will result in a ‘long term capital gain’ that comes with 20% tax rate.
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However, if you planning to sell house fast Houston, after 5 years of purchasing it; and 2 years of living in it, you can escape a fixed amount of gain from the sale.

2. Sell Your Home Where You Have Lived the Most:

Selling a house usually comes with various conditions and guidelines. This becomes prominent in case you own multiple homes at one time.
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In such cases, the above mentioned point can be implied only on your main home. If you want to enjoy tax benefits out of the sale of your property, make sure you are selling the house where you have lived the maximum number of years; as it will be considered as your main house.

3. Think About Exclusion Limit While Selling a House:

Tax-free amount varies according to your status! If you are still a bachelor, you can treat $250,000 as a tax-free amount. On the other hand, it differs from that of the married couples; they can treat $500,000 as a tax-free amount while selling a home.
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This exclusion can be used every time you sell a house where you have lived for at least 2 years. To note here – in case, you are selling the house at loss, you won’t be able to include the loss amount in it.

4. Sell Your Home without Reporting:

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One of the secret tax tips state that you don’t have to report a sale every time! Yes, this’s true! In case, you are selling a house without making any profit, you might not require reporting for the sale. This is applicable when the sale of your house doesn’t exceed the above mentioned amounts.

Though the above mentioned tax tips can save you from paying a bulky amount of tax while you plan to sell house fast Houston, there are several other ways that make the process easier for you! Rather than selling the house directly or plan to sell your home on your own, you can get in touch with Realty Simplified, LLC.

At Realty Simplified, LLC, we buy houses in Houston within a few steps while taking care of all the paper-works and legal procedures. Give us a call to know more about how you can sell your home at the fastest speed and get spot cash offers on it!

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Home Buying Mistakes By First-Time Home Buyers

Home Buying Mistakes By First-Time Home Buyers

Nakul Kongovi | October 5th, 2016

Home buying mistakes are quite common with home buyers in Houston; especially the first-time home buyers. Starting from getting into the market to buying a home, first time buyers are prone to a series of common mistakes.

Most of these home buying mistakes are due to the lack of proper home buyers’ guides; in addition to these, estate agents also keep the first home buyers aloof of all these mistakes! Well, if you are planning to buy your first home in Houston, here are some of the common mistakes you  must avoid while buying first home:

1. Worrying Too Much While Buying a Home:

Worrying too much while buying a home in Houston can make things extra expensive for you! A common scenario among the first home buyers, this not only curbs your option in the market, but also allows the sellers or estate agents to know about your choices and preferences.

Worrying Too Much While Buying a Home

Knowing your choices and preferences, they can take great advantage out of the deal as they know, you are stuck with a certain house; asking a higher price for that house is quite inevitable! Never worry too much about a fixed house; even if it slips away, you always have other options open!

2. Less Enquiry Much About Mortgage Plan While Buying a Home:

Mortgage options allow home buyers to enjoy a stress-free buying! However, before applying for mortgage, new home buyers must know the suitable option or the best-fitting mortgage option for them.
2. Less Enquiry Much About Mortgage Plan While Buying a Home

For the home buyer who are on the spree of buying first home, usually ignores this! They often tend to ignore the fact that they can ask for a suitable mortgage plan, and go for whatever their bankers suggest them! Well, selecting a wrong mortgage plan is almost like filling your vehicle with water and expecting it to move!

3. Getting Tempted with Down Payment Options While Buying First Home:

A reduction in the down payment while buying a home seems tempting to the first time home buyers, and they readily opt for it. And in case, they are offered ‘zero down payment’ options, they will never think again, and will go blindly on the purchase.

Getting Tempted with Down Payment Options While Buying First Home:

However, home buyers, on their course to buy their first home, tends to ignore that going for a low or zero down payment option does nothing special, but adds additional amount to the total repayable amount. Rather than saving while buying a home, first home buyers usually get lured by the financial organizations.

4. Lack of Funds After Buying a Home:

Spending everything on a new house is utter foolishness! Considering you have purchased your first home, you will surely need funds to get settled in that house; to start life in your new home.
Lack of Funds After Buying a Home

Spending everything on your new purchase will refrain you from getting started. Also, since there is a lack of home buyers’ guide in the market, first time home buyers usually tend to become a prey to this kind of situations.

5. Wrong Assumptions While Buying First Home:

For the home buyers, buying always sounds cheaper and better than renting a similar property. However, in real life, there is hardly any difference between these two; in fact, buying proves to be a costlier affair that renting a property.

Wrong Assumptions While Buying First Home

Most of the first time home buyers assume that the process actually ends with them buying the property; and they only require to move in and start living! Well, these buyers usually ignore the maintenance fees, taxes, insurances, HOA fees, and other charges levied on their new purchase.

If you are planning to buy or sell your house fast Houston at the fastest speed, you can also contact Realty Simplified, LLC. We buy houses Houston by giving spot cash offers and close the deals within a few days. Call us or drop us a mail to know more about our process of buying houses in Houston.

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Most Common House Flipping Mistakes In Houston

Most Common House Flipping Mistakes In Houston

Nakul Kongovi | September 8th, 2016

Are you among those who think house flipping is cool as hell and is an ideal money making source? Well, if yes then you must be very well versed with the loopholes involved in house flipping or flipping homes! And if not, you must know about some of the most common mistakes while flipping homes!

Even though house flipping sounds a profitable business, you must be extremely careful while investing your money on a house. Buying with one hand and then selling with the other might not always prove to be beneficial! Here are some of the common mistake agents commit while house flipping:

1. Over Ambitious While House Flipping:

The real estate market might look like a hot money bowl to the outsiders. Buy house from someone, sell it to someone else and make huge profit out of it! Well, this is nothing but a notion of the outsiders.
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Real estate market is extremely fragile, and you never know when things can turn against you! Finding someone who is ready to say ‘I want to sell my house Houston’, an experience house flipper agent will take his time to analyze and examine. On the other hand, someone who is new to house flipping might consider it as a spot deal and invest in it. God forbid, but if the market graph gets unfavorable, he can lose his fortune over that deal!

2. House Flipping by Hiring Low Cost Services:

At times, the agents who are into house flipping in Houston, after buying a new property, needs to get it sell-ready. For every seller who approaches them saying ‘sell my house Houston’, they might not have a house in perfect condition!
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And to sell an imperfect house, it might take longer than the expected time. In order to fix the recently bought house, a flipper must get it done. While hiring labors to fix the house, most of the flippers assume, hiring low cost services will result in a lesser amount! Well, this is not at all true! Hiring low cost services make things tougher; they take longer time, resulting in multiple cost to sell house fast Houston.

3. Lack of Judgement While House Flipping:

This is one of the most dreadful situation among the house flippers! Most of the flippers while flipping homes, fails to estimate the investment on their recent purchase. And in order to sell house fast Houston, they might end up spending or investing more than what is required.
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This may not have an instant effect, but in the long run, when they will put that house for sale, buyer might not be ready to pay extra cost for that house. For the house flipping agents, they must; in fact, always, estimate the additional costs required properly whenever a client approaches them and says ‘I want to sell my house Houston’; better judgement results in better profits!

4. House Flipping with Over Confidence:

This usually happens with the newcomers! Every house flipping agents, before they buy a new house, they study it thoroughly and estimates the time required to sell house fast Houston. The more efficiently they calculate the time, the more profits they can make from it!
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However, for the newbies in house flipping, they mostly concentrate on getting the house sale-ready. And to achieve this, they become adamant in spending cash to make the house sale-ready. House flipping is a matter of experience and foreseeing; being over confident on selling a house might lead to nowhere!

As already said, house flipping requires knowledge and talent to forecast the market! In case any of the house flipping agents approach you to sell your house, it will be wise for you to not sale your house with them. Rather, you can sell your house directly with cash buyers like Realty Simplified, LLC.

We buy houses in Houston at the fastest speed and within a few steps. Call us or drop us a mail to know more about how we buy houses in Houston or how you can sell your house with us in Houston!

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Top 5 Advantages Of Selling A Home To Cash Buyers

Top 5 Advantages Of Selling A Home To Cash Buyers

Nakul Kongovi | September 7th, 2016

Selling a home, at times, can get perplexing as hell! Deciding what is the best way to sell house fast, Houston, can get tough as well as confusing. Should you accomplish the sale with individual Houston house buyers or sell it to cash buyers? Also, to decide on this, make selling a house quite confusing and equally tiresome!

However, if you want to sell house fast, Houston, experts would always suggest you to sell it with the cash buyers rather than selling it with the Houston house buyers. Well, here are the top 5 reasons, why a property expert would suggest you selling a home with the cash buyers:

1. Sell House Fast, Houston With Cash Buyers:

Selling a home with individual buyers requires plenty of online and offline efforts! List your house on a popular web portal, hire a realtor, wait for the right buyers, etc., are some of the must-to-do to sell house fast, Houston.

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However, when you sell your house with a cash buyer in Houston, you don’t have to go through all these. Selling a home with house buyers only requires placing a property evaluation request, post which, the cash buyer will visit your property, estimate its net worth, and help you instantly in selling a home.

2. Selling a Home is Guaranteed:

Selling a home with local buyers has many obligations! In order to purchase your house, a local Houston buyer will look into an array of aspects. The location of your house, availability of amenities around, insurances, utility services, and many others.
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On the other hand, for a cash buyer, buying your house gets them going in their business. Their main objective is to buy your house and close the deal. Selling homes with a cash buyer guarantees a 100% sale rate.

3. Maximum Profit While Selling a Home:

Hiring a realtor while selling a home proves to be one of the most tiring process! You want to sell house fast, Houston, which also concludes that you cannot wait for a longer duration to sell your house. In addition, selling homes with realtor also involves a certain amount as the agent’s commission or fees.
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But while selling a home with cash buyers, you don’t have to worry about paying any fees or hidden charges. Cash buyers in Houston, usually buys your house with any involvement of estate agents or realtors! Selling with cash buyers will go smooth on your wallet!

4. No Repairing Cost While Selling a Home:

If you plan to sell house fast, Houston, with a realtor or by yourself, you need to take care of certain things; house repairing is the foremost task to be accomplished. Starting from the minute to the most major repairing, you need to get your house in perfect condition to make the sale happen.

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On the other hand, if you plan to sell your house to a cash buyer, you can skip all these. Most of the cash buyers in Houston buy a house ‘as-is’, and do not ask for any repair works. Selling with them will save you some extra bucks for sure!

5. Selling a Home Gets You Get Spot Cash Offers:

While selling a home with the cash buyers, you don’t have to wait for a quotation; they would offer you a spot cash offer in order to buy your house. Also, unlike selling with a realtor or individual Houston house buyers, you don’t have to negotiate with cash buyers.
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Once they estimate the net worth of your house, they will give your instant cash offers. In case, you don’t like, you can ask them for the price deciding factors, and take your call on selling your house!

Realty Simplified, LLC is one of the most trusted and experienced cash buyers in Houston. You can also sell house fast, Houston with us within just a call. Get in touch with us to know more about how you can get the best price on your house!

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Money Saving Tips While Selling Your House

Money Saving Tips While Selling Your House

Nakul Kongovi | July 04, 2016

1. Avoid Additional Agent Fees while Selling Your House:

A property or real estate agent is the one who usually helps you in selling your house. However, at times, these agents can play their gimmicks on you and dig a hole in your pocket.

Avoid Additional Agent Fees while Selling Your House

Beware from all their tricks and monopoly; chuck out expenses like exclusive rankings or listing, professional photography, and other similar services offered by these real estate agents or brokers. Take care of all these factors, and you can save a lot while selling your house!

 2. Use ‘No Sale – No Solicitor Fees’ Policy:

Transaction costs while selling your house can also be a pain! Adding more to the pain, if the sale fails multiple of times, this cost or fees will surely restrict you to sell your house quickly for cash in Houston or will simply increase the bill while selling your house.

Use ‘No Sale – No Solicitor Fees’ Policy

While hiring property agents, make it very clear that you only want to opt for a ‘No Sale – No Solicitor Fees’ policy while selling your house in Houston. In addition to save you from over-paying solicitor fees, this will lure your agents to get a sale as soon as possible for you and settle all their unpaid bills!

3. A Survey Can Help You Sell Your House Fast with Savings:

Yes, a small survey on the recent stats – market flow, buyer’s or seller’s behaviour, trend, and others is a must while selling your house. While the market flow can decide the cost of your house, the recent trend can help you to negotiate its main cost. Don’t let this opportunity slip your hand and survey the property market very closely while selling your house.

A Survey Can Help You Sell Your House Fast with Savings

4. Sell Your House Fast or Buy a New One, Always Check on Utilities:

You might not have to do this while selling your house! However, while planning to buy a new house for yourself, you must check on the utilities as they can save you thousands of bucks!

Sell Your House Fast or Buy a New One, Always Check on Utilities

From power supply to water bill, foremen charge to telephone bills, you must keep an eye on everything. Also, make sure that you update the ownership on the property; update your name over the previous owner and get the new utility rates and bills.

Even though, these are some of the simplest and most common money-saving tips while selling your house, you can make the entire process even more simpler! Avoid all these and give a call to us. At Realty Simplified, LLC, we buy houses in Houston and will surely make the process easier and extremely money-saving for you. Moreover, you can sell your house quickly for cash in Houston with us in any given condition or even if there are major repair works required.

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