Real Estate

If you are in the process of purchasing a new home, an investment property, or maybe a vacation home, you may have heard that you need or don’t need title insurance.

Here’s what you need to know about closing issues that often lead to a real estate dispute. Learn more from Cherewka Law.

Why exactly are sellers obligated to disclose all this information to the buyer? Read on to find out how it can serve to protect you down the line.

When you sell a piece of real estate, income taxes are due on the gain from the sale.  For example, if you purchase a property for $100,000, and several years later, sell it for $300,000, income taxes will be owed on $200,000 (the gain). 

Purchasing or selling a house is one of the most important decisions a person will make.  Most people will use a real estate agent when buying or selling their home and will rely on their expertise to guide them through the transaction. 

Purchasing a home can be an exciting and nerve-racking time.  There is always so much information and misinformation about how to approach the process the right way.

In 1974, Pennsylvania enacted a law amid fears that farmers were going to be taxed off their lands and their property would be paved over. Clean and Green is most often advertised as a way to help the struggling farmer. It allows for owners to apply for a reduced property tax assessment if they have 10 acres or more and fall under three categories: (1) agricultural use (working farm); (2) forest reserve (wooded areas); and (3) agricultural reserve (open space). Properties of less than 10 acres are able to be a part of the program, provided that they can prove that at least $2,000 in annual income is through agriculture.

Have you ever thought about selling a property to a family member? Here are questions you should consider before going forward.