123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Real-Estate-and-Foreclosure >> View Article

Throwing Light On The Aspects That People Should Know Before Selling A Property

By Author: Martin Luther
Total Articles: 348

Property transactions have witnessed a considerable rise in recent times because of the rapid growth in the real estate sector. But in reality buying or selling property is a hard task for common people.

Some people sell their properties to counterbalance a decent return on their investment. Whereas some others, forcibly does it as they need to migrate to some other city. There are many reasons for buying or selling a property, but it is important for everyone to know few things before exchanging money or signing up any contract or agreement.

Here you will find few such points that each seller and buyer should keep in mind.

Aspects related to taxation-

If you are selling any residential or commercial property, taxation is the most vital aspect that you need to give full attention to. The taxation depends generally on the timing in which the property is sold.

So, if you sell your property within three years of buying it, you would be liable to get a short-term capital gain. The amount of returns you earn from the property sale would be summed up to your annual income and be taxable as per the income tax bracket.

But, in case you are selling the property after three years of the purchase, you are able to acquire long-term capital gains. An interesting part here is that you can also cut the tax obligations if you invest the earned amount within six months from the date of sale or before filing the returns on the capital gain bonds.

Loans and liability factors-

People in today’s world are going through huge financial uncertainties witnessing many cases of property owners with housing loan compulsions getting bound to sell or dispose their properties. You may think that selling a property with a liability or loan is quite complicated and problematic, but the fact is that if all the documentation and paperwork are ready in an exact way, it’s no big deal.

There can be two situations for the sale of any kind of property. One is in which the buyer pays money from his own pocket and another is where he prefers to take a housing loan for payment.

Registration and other legal documentation-

Before you buy and sale property in Durgapur, you must take the help of a legal advisor. This would help you to understand and resolve the issue that is involved, like any legal dispute or incomplete property documents.

If you are buying a property and want to be the legal owner, you should get it recorded in the sub-registrar's office by paying the suitable stamp duty and registration charges. The charges are dependent on the location, size and type of the property. This process is now-a-days computerized at most of the offices and you can get real-time documents.

Martin Luther has performed a series of interview with the employees of Chhasm Engineering and Construction Co. According to him there are numerous people who buy and sale property in Durgapur very frequently. So the demand of real estate consultancies are grabbing the market throughout West Bengal.

Total Views: 91Word Count: 503See All articles From Author

Real Estate and Foreclosure Articles

1. Elgin Real Estate Market Update August 2018
Author: John Herman

2. Find Trusted Vacation Home Rental Homes For A Hassle Free Experience
Author: wratleykent

3. Reasons To Opt For House And Land Packages In Sunshine Coast
Author: Perry Homes

4. Developing Successful Real Estate Joint Ventures
Author: John

5. Deerfield Real Estate Market Update August 2018
Author: John Herman

6. Why Opt For Premium Apartments In Gurgaon?
Author: Arun Kamal

7. 1 Bhk In Kalyan | 2 Bhk In Kalyan East | 3 Bhk Flats In Kalyan West - Jh Zojwalla
Author: JH ZOJWALLA

8. How To Avoid Top 10 Estate Planning Mistakes
Author: Jimmy Walid

9. Crystal Lake Real Estate Market Update August 2018
Author: John Herman

10. 5 Reasons Why Adapting Bim Technology Is Viable For Small Firms
Author: Amit Patel

11. Carpentersville Real Estate Market Update August 2018
Author: John Herman

12. Learn How Non-destructive Technology Makes Renovation Easier – A Scan To Bim Approach
Author: MagnasoftBIM

13. Carol Stream Real Estate Market Update August 2018
Author: John Herman

14. Buy Property In Noida For Investment And Modern Living
Author: Siana Roshan

15. Buffalo Grove Real Estate Market Update August 2018
Author: John Herman

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: