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Archive for January, 2023
What is amortization in real estate?
Amortization in real estate refers to the process of paying off a mortgage loan over a period of time, usually in equal monthly payments. These payments consist of both principal and interest. The amount of principal and interest included in each payment will vary over the life of the loan. As the loan amortizes, the proportion of the payment applied to the principal will increase and the proportion applied to
How to manage grief as the personal representative of an estate
As the personal representative of an estate in Denver, you may be going through this difficult experience with immense emotion while simultaneously trying to handle the details of the probate process. Losing a loved one is one of the most painful events someone can experience. We’ve met with hundreds of personal representatives over the past 11 years and the sadness and anger can feel crippling and we don’t always allow
Why does the probate process take so long?
What is going to slow down probate? The probate process can take so long and get quite complex as it consists of several steps, the basic ones being: petitioning the court, approving the executor, notifying all parties, transferring of assets and paying off debts, and closing the estate. Because it’s such a long process, a hold up at any point in the process can mean major delays. Here are a few
What is Adverse Possession in Colorado?
Adverse possession is a legal concept that allows someone to gain ownership of a house or property through continuous and exclusive use for a certain period of time. In Colorado, the statute of limitations for adverse possession is eighteen years. This means that if someone uses a house openly and continuously for 18 years or more, and the true owner of the property does not take action to stop them,
What Is a 1031 Exchange?
A 1031 exchange, also known as a like-kind exchange or a Starker exchange, is a tax-deferred exchange of property that is used for business or investment purposes. The exchange allows the owner to sell a property and purchase a new property, while postponing the payment of taxes on the gain from the sale of the original property. To qualify for a 1031 exchange, the properties being exchanged must be of
Are we buy houses companies in Fort Collins legit?
It depends on the specific company you are asking about. Some we buy houses companies in Fort Collins may be legitimate and operate ethically, while others may not. It is important to do your research and due diligence before working with any company to ensure that they are reputable and trustworthy. This may include checking online reviews, asking for references, and verifying their licensing and accreditation. Additionally, it is always
How do I save money for investing in real estate?
There are several ways to save money for investing in real estate: Create a budget: Identify your income and expenses, and determine how much you can save each month. Reduce unnecessary expenses: Look for ways to cut back on things you don’t need, such as subscriptions or memberships you don’t use. Automate your savings: Set up automatic transfers from your checking account to a savings account so you can save
What is a short term rental in Denver?
A short term rental in Denver refers to a property that is rented out for a short period of time, typically for less than 30 days. This can include vacation rentals, corporate housing, and other types of temporary rentals. Examples of popular short term rental platforms in Denver include Airbnb, VRBO, and HomeAway. What properties are must used with a short term rental? Properties that are commonly used for short-term
What is a mortgage?
A mortgage is a loan that is used to purchase a piece of real estate or property. The property serves as collateral for the loan, and the borrower makes payments to the lender until the loan is fully paid off. Mortgages typically have a term of 15 or 30 years and the interest rate can be fixed or adjustable. Why do mortgages have interest rates? Mortgages have interest rates because
What is a credit score?
A credit score is a numerical rating that represents an individual’s creditworthiness. It is calculated based on information from a person’s credit report, which includes things like their payment history, outstanding debt, and length of credit history. Credit scores are used by lenders to determine the risk of lending money to a person, and can affect a person’s ability to get approved for a loan or credit card, as well