Robert E. Ormiston Real Estate

Buying Real Estate
SOME FINANCIAL BENEFITS OF HOME OWNERSHIP

Buying Real Estate:

Whether you are a first time buyer or a seasoned investor, Robert E. Ormiston Real Estate can assist you throughout the whole process with all types of real estate purchases in California including single family homes, luxury homes, condominiums, tenancies in common, foreclosures, short sales, bank owned properties, investment properties, apartments, commercial properties, office buildings, hotels, development projects, and raw land. Assistance can also be provided in complex transactions including those with title issues, ownership disputes, partnership disputes, financing issues, construction defects, properties requiring extensive repairs and rehabilitation, and properties with planning and zoning issues.

Individualized personal service will be provided for each transaction bringing to the table Robert E. Ormiston’s over twenty (20) years experience.

Support will be provided to assist you with obtaining the best financing for your individual transaction. If you are not already pre-qualified for a loan for your purchase, you will be assisted with obtaining prequalification which is routine before you submit any non all cash offers.

The most successful transactions require a proper game plan that is well-thought-out, well negotiated and executed. It is equally important that all written contracts (offers, counters, addendums, etc.) are understood, correctly express your intentions and properly protect your interests. You will be provided with a clear roadmap of what it takes to make a successful purchase for your individual transaction.

SOME FINANCIAL BENEFITS OF HOME OWNERSHIP:

Some of the financial benefits of home ownership include:

(a) Deduct Interest and taxes: Mortgage Interest and property taxes can be deduced as expenses against income. (Department of the Treasury, IRS Publication 530);
(b) Capital Gain Exclusion: When you sell your home, as long as you have lived there for two of the last five years, you may qualify to exclude up to $250,000 ($500,000 if married and file joint return) of any capital gain that results from the sale of your home. (Department of the Treasury, IRS Publication 530); and
(c) Home Office Deduction: You may be able to deduct certain expenses if you use a part of your home as a business office. (IRS Form 8829 Expenses for Business Use of Your Home).