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Closing or Settlement >Handle Needed Repairs Early
There is a standard chain of events that occurs when an offer comes in on a home. After a meeting of the minds, the buyer often brings in a home inspector who may find a few items that need to be repaired. The real estate agent gives the homeowner a list of the requested repairs. What comes next?
In most transactions, the seller will take care of the repairs. Many sellers wait until the week before the closing to call someone to do the work, because they want to be sure that they are going to make it to the closing table before they spend money on repair work. If you are responsible for making repairs to a home you are selling, make sure you have the work done well in advance of the closing date by licensed professionals who will stand behind their work. If the work is done at the last minute and is incomplete or unsatisfactory, it could cause complications at the closing. You should provide the buyers with all the receipts and the names of the persons to contact in case there is a problem with the repairs.
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| Q |
Which law allows a person to give another individual up to $10,000 a year without any tax consequences?
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| A |
The Federal Gift Tax Law allows both parents to give a child (or anyone) $10,000 each in one year. |
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The Dubinsky Group
RE/MAX
22631 Pacific Coast Highway, #173
Malibu, CA 90265
Direct: (310) 488-5910
Cellular:: (805) 444-7044
Email: MalibuDreamEstates@gmail.com
Maia Dubinsky is a licensed real estate Broker with over 22 years of experience in the business. She is proud to have been inducted into the RE/MAX Hall of Fame and consistently achieved the Platinum Club award, one of the highest honors within the RE/MAX system. Maia's track record of success is clear evidence of her dedication and commitment to delivering outstanding results for her clients. Maia also holds a Bachelor's Degree in Business Administration and several financial licenses. This only adds to her knowledge and credibility as an expert in the field of real esate financing and investing.   
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