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INCORPORATED'
Regular Sales !
Every Tuesday
HORSE SALE < 2nd Sat., 10 a.m., Every Month
STATE GRADE
FAT CATTLE 1n Tues., 1:30 pjn. Every Month In
Tuesday of each month, we will have a
Stala Graded Feeder Cattle Sale
Consignments Welcome. For Further Information call 364-1566
1 mile east of Marshall on Rt 55.
.Real Estate
Eileen M. Day REALTOR
DEDUCT "FIX-UP" COST QUESTION: When may *fix-up" expenses be used as a tax deduction when selling a house? ANSWER: The property owner is permitted to take such a deduction if the work is completed no more than 90 days prior to the sale of the house. It is, therefore, wise to coordinate any necessary repairs with the date papers actually pass in order to have this tax advantage.
QUESTION: I am interested in buying a piece of property but will have trouble coming up with the down payment. I was offered a land contract. Could you explain this? ANSWER: Under a land contract, the seller retains title but gives up possession to the buyer. The purchaser continues to hold the property as long as he keeps up his payments on the contract. If he defaults, the seller may dispossess him because the title is still in the hands of the seller. This is really the purchase of real property on the installment plan.
If there is anything we can do to help you in the field of real estate, please stop in at EILEEN M. DAY, Realtor, the Clopton House, Washington, Virginia, 22747. Phone 675-3033. We're here to help.
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