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FAQs life estate deed
What is it like being a real estate agent?I have been selling homes for over twenty seven years. I still love real estate. Over the years I have managed an office and taught other agents. I am one of the top agents. I can usually tell the difference when agents start if they will make it or not. First, you must have a passion for what you do. To make good money you will be working long hours. If it is not your passion and you are just interested in the money, don't bother. Second, set your business up just like a business. Each year you will need a business plan. Educate yourself on what the top agents do every year to get the business. My first few years I tried to duplicate what I saw top agents do. I also asked them if I could help them. I would meet some at 6:30 in the morning and buy them breakfast. Then see how they dispursed mail, what they mailed, when they started making calls, who they called, and how did they market. Good agents will have a solid marketing plan in place for the homes that they list.Third, start a plan for how you would market the homes you list. When my sellers list with me they do so as I am stronger in the marketing area. Every year I research different ways to market homes. How best to take that home and elevate it to the top of the consumers list.The average salary for an agent is about 30k. If you want to be average then stroll into the office around 11am or noon. Make a few phone calls to friends, have some coffee, read some social media, go to lunch, come back and make three phone calls to past clients. Talk to other agents how you cannot seem to get clients, go preview two homes, dress sloppy, drive a dirty car and go home. Want to make good money? Follow the top agents. In the office by 8:30 make 10 calls by 9am. Go walk your farm and knock on some doors, work on a marketing plan, visit some expierds, pull some FSBOs and show them what you can do for them. Go do a vacant open house all week all day. Bring your internet with you! As long as you have power you set up office at the open house and make more calls. Better at the house then the office, the other agents will not buy from you at the office. At the vacant home the buyers are coming to you. Accept the fact that you will be working most evenings and weekends. That is when your buyers are most likely to look at homes.Love and care about people. You should want your clients to be happy, getting the best deal, and feel like they are your only concern. Never forget that they have a lot of other agents to choose from. Make them happy that they choose you. Buying a home is one of the most scary and expensive things that they will do. Take care of them.
What does a joy-filled life look like?This isn’t something that anyone outside of yourself can answer.It’s funny that you used the word joy - it makes me recall an excellent book I read about cleaning and organizing. Maybe you have heard of it. It’s called “The Life-Changing Magic of Tidying Up” by Marie Kondo and she developed the KonMari method. There is a follow-up/companion book entitled “Spark Joy” - check it out!She introduces the idea of making “art” out of “things” by deciding very clearly what “things” spark joy within you. For me, for example, books spark joy. I have my books prominently displaced now and they do truly spark joy.
How many application forms does a person need to fill out in his/her lifetime?As many as you want to !
What is the simplest form of life and what does the stoichiometry look like? . I am curious how the inanimate can transition to the animate?There are three lectures on YouTube that summarise our current knowledge. Shortcut for the first below.
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People also ask sample life estate deed
How does a life estate deed work?A life estate deed is a special deed form that allows a property owner to use the property during life and transfer the property automatically at death. Life estate deeds are designed to transfer the property at death without losing the ability to use the property during life.
Can someone with a life estate sell the property?Answer: Someone with a life estate has a right to the use of the asset in which she or he has a life estate for her or his life. ... Although the life tenant can sell the life estate, the buyer would have ownership rights only as long as the original life tenant lived. A remainder interest may also be sold.
What is the purpose of a life estate deed?Typically, the purpose of a life estate deed is to provide for the transfer of the property to the desired person(s) (remainderman) automatically at the death of the property owner who retained the life estate ("life tenant"), without the necessity of probate.
What is the value of a life estate?The value of the life estate is found by going to the Life Estate and Remainder Interest Table here. The value of the life estate is found by taking the value of the property and multiplying it by the life estate factor (a.k.a. life estate rate).
Who pays taxes on a life estate?When retaining a Life Estate in the property, you are not transferring or giving the entire interest in the property away. Instead, the remainder persons are given today the right to own the property after you pass away. The life tenant is responsible for the payment of real estate taxes on the property.