Patty McMillen » 2010 » January » 21

1031 Exchange

Patty McMillen — Thu, 21 Jan 2010 22:38:33 +0000

All funds from a sale of a property do not have to be reinvested..a taxpayer can choose to withhold funds or receive other property in an exchange, but it is considered boot and will be suject to taxes. I personally use an exchange company to handle exchanges for my clients they know what you can and cannot do.

1031 Exchange

Patty McMillen — Thu, 21 Jan 2010 22:21:21 +0000

A client asked me if his attorney could handle his exchange…The answer is NO if your attorney has provided you any nonexchange related legal services within the to year period prior to the exchange.

Ukiah-Downpayment Assistant Program

Patty McMillen — Thu, 21 Jan 2010 17:40:46 +0000

Homebuyer’s dreams to come true! If you have never used this program I urge you to give it a try. I recently helped a single mother with one child get into a home with this program. The program is designed to help low income families finally make a move to purchase their own home. My client is a working mom and has been in her job for eight years and could never afford to purchase until now. The city provides a second for the down payment and the first is through a local lender that has been approved through the city..I personally used Ginny Richards with Mission Hills Mortgage..excellent job! The house has to qualify for the purchase so it’s my recommendation that you don’t even look at fixer uppers, they just have to many problems to try to get passed. If you have a willing seller/ buyer then I recommend checking this program out. It’s a lot of work but well worth the effort of seeing that someone deserving of a new home.

Haiti Donations

Patty McMillen — Thu, 21 Jan 2010 17:30:13 +0000

I have been really moved by the fast aid of our country when sa country is in need of help. Everyone wants to help out but we all can’t just jump in a plane and head that direction. I chose to donate on my phone..easy and it makes you feel good. I urge all Ukiah to dial Haiti on their phones and donate to a good cause.

Tenants

Patty McMillen — Thu, 21 Jan 2010 17:25:37 +0000

Question: If a tenant calls you on a Sunday and leaves a message on your work line that their drain is clogged and you don’t get the message until Monday and find out they went and rented a hotel for the night and now ask you to pay for it, what is the answer to this?