Negotiating A Cheap HouseWritten by Steve Gillman
When you bought your home, you offered less than you were willing to pay, right? That's most common negotiation technique. For experienced investors, however, that's just one little secret among many more powerful ones. What else can you do?How To Make An Offer 1. Offer an odd amount, like $161,793. This gives impression that you know something seller doesn't. They may think you have a good reason for that particular price. 2. Play dumb. Ask questions, talk slow, ask for help, and never show off your real estate expertise. Sellers are afraid to budge if they think a smarter person may be taking advantage of them. 3. Use "limited authority" ploy. Say "I'll have to check with my wife (or partner)." It's easier for sellers to accept that you can't do something, rather than idea that you won't. 4. Refer to precedent. "My father bought his house this way." If offer is at all unusual, sellers will feel more comfortable if they know it has been done that way before. 5. Ask for things you don't want. This lets seller win concessions when negotiating. If you can say, "I guess I don't need refrigerator, if I can get my price," you're more likely to get your price.
| | Donating Cars To Charity - New Tax RulesWritten by Richard A. Chapo
On June 3, 2005, IRS released guidance on charitable deductions for donated vehicles. The American Jobs Creation Act (AJCA) radically changed amount of deduction taxpayers can claim for their donated car.Fair Market Value v. Actual Sales Price When donating a car to charity, a taxpayer traditionally was allowed to deduct fair market value. The new law changes this valuation to actual sales price of vehicle when sold by charity. The taxpayer is also required to get written and timely acknowledgment from charity in order to claim deduction The AJCA does provide some limited exceptions under which a donor may claim a fair market value deduction. If charity makes a significant intervening use of a vehicle--such as regular use to deliver meals on wheels-- donor may deduct full fair market value. For example, driving a vehicle a total of 10,000 miles over a one-year period to deliver meals is a significant intervening use. The AJCA also allows a donor to claim a fair market value deduction if charity makes a material improvement to vehicle. Under guidance, a material improvement means major repairs that significantly increase value of a vehicle, and not mere painting or cleaning.
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