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The Dickerson Team, REALTORŪ, real estate agents and broker for Aurora, Sugar Grove and Yorkville Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)
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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 
Where is the world's oldest hotel?

A 
The Hotel Ryokan in the village of Awazu, Japan dates back to AD 717, when an inn was built near a hot spring reported to have miraculous healing properties.
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The Dickerson Team, REALTORŪ, real estate agents and broker for Aurora, Sugar Grove and Yorkville Illinois home listings, property and land for sale - NUMBER1EXPERT(tm)

The Dickerson Team
RE/MAX of Naperville

116 W. Gartner
Naperville, IL 60540
Toll Free: 888 777-1165
Keith's Cell Phone: 708 341-2076
Wendi's Cell Phone: 708 341-2070
Fax: 630 466-3702
Email: Info@TheDickersonTeam.com

The Dickerson Team is ranked in the TOP 1% of ALL Northern Illinois Realtors. We believe in order to achieve success for us, we must achieve it for our clients. Call the Dickerson Team for all your real estate needs.

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