Monthly Archives: March 2016

Tips For Replacement Property Identifyty

There is no argument that the IRS is quite strict when it comes to applying the rules governing 1031 exchanges. Every year, hundreds of proposed exchanges fail because the investor fails to meet one of the requirements set forth in the code.

One of the biggest areas where mistakes are made? Identifying the replacement property.

To make sure you don’t make a misstep here and jeopardize your next exchange, we offer our top tips for identification. Tomorrow, we will share our final tips.

3 Property Rule – There are different rules that set forth how many possible replacement properties may be identified by an investor, but most follow this rule. It allows an investor to identify up to three replacement properties and eventually acquire, one, two or all three of them.

200% Rule – An investor can identify more than three possible replacement properties so long as the total fair market value of all those properties identified does not exceed 200% of the fair market value of the relinquished property.

95% Rule – Not commonly used, this allows investors to identify more than three replacement properties with a total value greater than 200% of the FMV of the relinquished property, so long as the investor acquires at least 95% of the value of the identified properties.

Manner Of Identification – This must be in writing and signed by the investor, and the property must be unambiguously described. This generally means identified by address or legal description. If the property is one where the investor is acquiring less than 100% interest, the percentage share of the acquisition must be identified, too.

Provide Information To The Right Person – The investor must provide the requisite identification information to either (a) the person obligated to transfer the replacement property to the investor, or (b) any other person “involved” in the exchange, such as the qualified intermediary, escrow agent or title company. However, the person receiving the information cannot be a disqualified person like the investor’s real estate agent or a family member. Generally, the qualified intermediary is the recipient of choice in an exchange.

Replacement Property Must Be The Same As What Was Identified – The investor must receive “substantially the same” property as he or she identified. While what the IRS considers “substantially the same” is a bit ambiguous, generally they draw the line at property that differs in basic nature or character.

Tips Buying a New One of Luxury Home

Make sure you understand the various aspects of finding and purchasing a luxury home in the Jacksonville area. Here are some of the top tips from experienced realtors.

Understand the Search Process

The majority of luxury homes may not be publicly listed. This is primarily to protect the privacy of the seller. You can usually access these listings through the personal connections of your realtor as opposed to looking online. You may need to look beyond the biggest search engines to identify what you are looking for.

Don’t Rely on Photos Alone

Many homes are not photogenic from a front elevation angle. You need to see these pictures in person in order to appreciate the grandeur of these homes. Make sure that you can look at the home on Google Earth, for example, ahead of time so that you have confidence about it really looks.

Photos are a great starting point, but they are not the only thing to consider. Remember that photos can be deceptive. A home that looks amazing in photos could turn out to be the work of a talented photographer, so you need to be able to get a real perspective. Of course, one of the best things you can do in a situation like this is to visit the place in person. Nothing compares with what you see and feel when you first arrive at a new place, so take time to schedule a visit to Jacksonville if you can.

Use a Local Realtor

As mentioned previously, some of the best listings will not easily be found online. You need to have an experienced local realtor to help you identify these properties. This individual will also know some of the best neighborhoods as well as some of the hidden amenities.

Make Sure to Document Everything

There is a lot of scrutiny today on the high end market in Jacksonville. Having financial documentation of your own situation is vital. If you make a lot of money you need to have documents that support that and if you have an accountant or a manager that works as hard as possible to shelter your money, it can be difficult to show the bank you have the income if you intend to finance the house.

Having reliable advisors as well can go a long way when you are interested in purchasing luxury property in Jacksonville. Identifying the right real estate agent and having him or her help you narrow down your price options and your choices for a luxury home can go a long way towards reducing some of the stress.

Tips for Best On Investment

Dehradun is experiencing rapid boom in industrial and IT development because of which real estate sector is also growing with upcoming residential projects in Dehradun. Dehradun is educational and institutional center with its great weather and serene landscapes. This city is developing into FMCG industry, pharma and plastic hub.

Dehradun is also having advantage of good climate, good infrastructure like water and power supply, prominent education institution and low crime rate. All these factors are contributing towards property boom at very fast pace. Land rates are increasing day by day because of good infrastructural developments in Dehradun.

People are also buying home in Dehradun as an ideal weekend home destination to rest and enjoy the beauty of this city to refresh their senses. Upcoming projects in Dehradun are coming up with good location and luxury homes to provide stylish and convenient living at affordable prices. Dehradun can also be opted for home after retirement because after all the responsibilities of life people want to settle peacefully. It is a perfect city to buy home and settle peacefully with all the facilities and amenities.

After becoming Uttarakhand’s capital it is showing rapid growth in commercial sector as well with residential developments.  It is witnessing construction of apartments from local and outside builders for multi storey flats.

Dehradun is now adopting metro culture; people are moving towards apartments rather than living in kothis and villas. Apartment living provides more security and community development living. Due to development in Dehradun nearby cities like Rishikesh is also developing at fats pace. 2, 3 BHK flats in Rishikesh are also increasing day by day with infrastructural developments. Many retails projects are also establishing in Dehradun with entertainment destination malls and shops for retail therapy. It is a popular tourist destination which is transforming into a technological and educational hub. Increasing population of students and tourists makes this city an attractive destination for retail and real estate investment.

Indian economy has posted some tremendous growth in real estate sector of Dehradun. It is associated with rise of malls in this region. It is said to be the ideal time to invest in Dehradun properties because price of land and property are growing at health rate of 15- 20 % which will surely give good returns in coming future to the buyers.

With beautiful tourist destination and attractions, Dehradun is having various walks of life into its serene environment. It is having unmatched potential with mountains, religious, adventure, eco-friendly, spiritual and high end tourism. Climate is also one of the important factors to make this city a big factor for property investment.

Youth in this city is increasing levels of aspirations, affluence and lifestyle because they are able to adapt thins easily. Now Dehradun is very abrupt in following trends, fashion, lifestyles and technology. So, if you are planning to invest in Dehradun for residential or commercial purposes then this is the best time to get the best property in Dehradun under affordable rates. Day by day rates are increasing because of good growth and change in culture.