TAXES Under Montana law, a gain that is realized from the sale or other taxable transfer of Montana property is considered to be Montana source income and is reportable in the year the gain is recognized for federal income tax purposes. There are downloadable forms available at http://www.mt.gov/revenue (click on Forms & Resources/Downloadable Forms/Individual Income Tax Forms.
OWNER FINANCING One way to make your property stand out in this market with buyers having more difficulty getting conventional financing is to offer to finance the property. You can get 25% down payment and finance the balance at a reasonable interest rate over 10 to 15 years, on a Contract for Deed. Where else can you earn a better rate of return on your money these days?
LISTING CHECKLIST Before choosing a real estate office, broker or agent to list your property, first ask these questions:
- Are they a member of the National Association of REALTORS®? (Only Realtors® adhere to a strict set of professional rules and standards in their Code of Ethics.)
- Do they have a storefront office and good exposure so buyers can find them?
- Are they open 7 days a week during the summer season with full–time, experienced associates available?
- Are they members of the local Gallatin Association of Realtors and do they cooperate and share information with all the local Realtors?
- Are they members of Southwest Montana on–line MLS?
- Do they regularly advertise in the Homes and Land Magazine? (the leading real estate magazine in the state)
- Do they have a website? (Check it out yourself – How professional is it? How inviting? How user friendly? How easy is it to find on the web by searching?)
- Do they place signs on all their listed properties?
- Do they distribute high quality sales materials to market their listed properties? (Ask for examples of MLS sheets, brochures, maps, etc.)
- Do they have a good reputation in the community?
- Do they have a friendly and cooperative relationship with other brokers?
- Are they knowledgeable about the area where your property is located? What else have they sold in that area?
- How long have they been selling real estate in the Madison Valley?
- How long have they been a licensed Realtor?