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Greater Silver Spring Office

13321 New Hampshire Ave

Silver Spring, MD 20904

301-236-4300 x 257

 

Table of Contents

When is a Real Estate Agent a Realtor®?

What are the tax advantages of buying a home?

What is a "Home Inspection" and what does it include?

Can't I just sell my home on my own?

When is a Real Estate Agent a Realtor®?

A real estate agent is a REALTOR® when he or she becomes a member of the NATIONAL ASSOCIATION of REALTORS®, the world's largest professional association. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics.


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What are the tax advantages of buying a home?

This is really a question you should ask a CPA or whoever does your taxes. I encourage you to follow up with a professional tax advisor as I'm not qualified or authorized to give advice in two areas - legal matters and tax matters.
Briefly put, providing you itemize deductions, own and occupy the home, you can deduct both property taxes paid on the home and interest paid on your mortgage. You can deduct the points and prepaid interest you make during the actual purchase, whether you pay them or the seller pays them on your behalf.

There are certain limits and restrictions which do not affect most people, but this is another reason you should contact a tax professional regarding your question.


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What is a "Home Inspection" and what does it include?

A home inspection is an objective visual examination of the physical structure and systems of a home, from the roof to the foundation. Having a home inspected is like giving it a physical check-up. If problems or symptoms are found, the inspector may recommend further evaluation.

The standard home inspector's report will review the condition of the home's heating system, central air conditioning system (temperature permitting), interior plumbing and electrical systems; the roof, attic, and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement, and visible structure.

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Can't I just sell my home on my own?

Sure, but it's like golf - it sounds easy. You just whack the ball a bunch of times until it goes into the hole. You may land in a sand trap or go out of bounds, but if you keep whacking at it, the ball eventually goes in the hole. Buying and selling real estate is the same way. If you are willing to do all the work, you can muddle through and get it done.  You could probably mend your own broken arm yourself too!

A real estate salesperson is more than just a "sales person."  They act on your behalf as your agent, providing you with advice and guidance and doing a job - helping you buy or sell a home.  While it is true they get paid for what they do, so do other professions that provide advice, guidance, and have a service to sell --such as Certified Public Accountants and Attorneys.
 

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Got a Question?

I've tried to make this site as informative as possible, however I know I may not have answered all of your questions. 

This is a fairly new site - any question you have is a good one. E-mail me your question and I'll answer it the best I can.

 

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