Appraise carefully. Homeowners should also make sure their property is fairly and accurately appraised. "You are transferring half of your future appreciation to another entity for a sum today," says Barry Glassman, a senior vice president of the wealth management firm Cassaday & Co. in McLean, Va. "Have an attorney look over the details, and pay close attention to the appraised value."
Consider heirs. You should also think twice about leveraging future appreciation of your home if you eventually plan to leave the property to heirs. Children who want to keep the house will have to essentially buy back the share at the new, appreciated value.
Jorge Saucedo, 66, a home builder and seller in the San Francisco Bay area who runs a rescue foundation for stray cats out of his 3,000-square-foot home in San Leandro, Calif., will share appreciation with EquityKey on two duplexes and his house. He used the money to pay down debt on all three properties. As for the possibility of leaving his property to heirs, Saucedo says, "Let them work on their own."
Boaz Arbel of NY @ Sep 22, 2008 13:05:04 PM
of @ Aug 26, 2008 11:22:50 AM