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Real Estate Tips
Tax Considerations >Not at ARMs Length

A sale of a house is just a sale, right? Not necessarily. If you are selling your house to your children or transferring title outside the open market, then the transaction may be characterized as "not at arm's length". Since such a transfer may have tax consequences, you should discuss it with a tax attorney or accountant before taking action.

The transfer of title to a son or daughter may cause the parents to lose favorable property tax treatment, require the payment of state gift taxes, or have other unexpected consequences. From a capital gains point of view, it may be more prudent for children to inherit property than to receive it as a gift. The disposition of any real estate should be considered within the entire framework of your tax and estate planning.

For answers to all your real estate questions, consult experienced professionals who are familiar with this area.

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Real Estate Trivia
Q 
What is considered the primary factor distinguishing buyers of prestigious properties from the average home buyer?

A 
Financing doesn't worry these buyers; they often put down 40 percent or more or pay cash for a property
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Bradley Vogdes, REALTOR®, real estate agent and broker for Wildwood, Ocean City and Cape May New Jersey home listings, property and land for sale - NUMBER1EXPERT(tm)

Bradley Vogdes
Atlantis Realty

5604 Pacific Avenue
Wildwood Crest, NJ. 08260
Phone: 609-522-8000
Fax: 609-522-8001
Email: info@AtlantisNJ.com

We are seasoned Realtors recognized and respected locally and nationally. We bring the breadth and depth of our experience, expertise and personal commitment to our clients every day. The families that we serve say that our greatest strengths are our negotiating and marketing skills. Our clients also thank us for our availability, accountability and tenacity in problem solving. We are proud of the fact that we have never placed personal interests above those of our clients

Equal Housing MLS REALTOR


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