As a Huntington Beach real estate agent, Deedee Sive often finds herself answering a number of questions by both her clients and those who are considering purchasing a home. Topics range from the simple to the complex and are generally topics that only those who work within the Huntington Beach real estate field will have knowledge of.
Regardless of the questions asked, Deedee is always happy to answer the queries of those she works with and those who she might one day work with. "The more a prospective buyer or seller knows the better their home buying or selling experience will be" says the Huntington Beach real estate agent. Deedee further adds that asking questions of a real estate agent can also prepare the buyer/seller for the process and can keep expectations realistic.
Some of the most frequently asked questions of Deedee are:
Q. Why should I use an agent when looking for and purchasing Huntington Beach real estate?
A. Whether buying or selling a home in the Huntington Beach Real Estate market or in surrounding communities, a real estate agent brings wealth of knowledge to the entire process. An agent will help you prepare your property for sale as well as market your home so that it sells more quickly. If you are purchasing a home, a real estate agent can help you narrow your search area, point out questionable property features and ultimately negotiate a great deal on your behalf.
Q. As a buyer will I be required to pay a real estate agent to help me find a home in the Huntington Beach area?
A. Real estate agents are almost always paid by the seller of a property, not a buyer. Once a home closes, the Realtor will receive a commission from the sale. Someone interested in purchasing a home in the Huntington Beach real estate market or Costa Mesa Real Estate market should be wary of any agent that requires payment upfront.
Q. What tax benefits are there for Huntington Beach real estate owners?
A. Homeowners benefit from several generous tax advantages. The most important benefit is the mortgage interest deduction. People may deduct interest paid on mortgage loans totaling up to $1 million used to buy, build or improve a principal residence plus a second home. The IRS calls such loans acquisition debt.
Points paid by the buyer or seller on a new mortgage loan for the purchase or improvement of a principal residence are deductible for the year in which the home was purchased. Any points paid on a refinance mortgage, a loan to purchase a second home or a mortgage on income property must be spread over the life of the loan, according to Edith Lank and Miriam S. Geisman, authors of "Your Home as a Tax Shelter," Dearborn Financial Publishing, Chicago; 1993.
Note that when obtaining a new mortgage, the borrower usually is asked to pay interest from the closing date until the first of the next month. Check whether that charge is included in the year-end report.
Some moving expenses are deductible for people who changed jobs and relocated as a result. The IRS requires that the new employment be located at least 50 miles away, among other considerations, said Analisa Collins-Sears, a public affairs officer with the IRS' Bay Area office.
Resources: * "Tax Information for First-Time Homeowners," a free guide published by the Internal Revenue Service. Order by calling 1-800-TAX-FORM.
These Huntington Beach real estate questions are but a few of the most frequently asked questions. As many of her clients both old and new share many of the same questions, Deedee has created a Huntington Beach real estate FAQ page within her website so that these questions can be answered without having to contact anyone. Of course if after viewing this page you still have questions, or have questions that where not present on this page, you may contact Deedee for further assistance.
Realtor Deedee Sive
Huntington Beach Real Estate Specialist
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