Posted by Scott on February 18, 2002 at 18:32:00:
How much on average are the closing cost when selling a house.
In Oklahoma, if you split closing cost with the buyer, you typically pay $500 plus commissions
I was planning on incorporating but I heard from a friend that if I incorporate I need to have a lawyer represent me in court even if it is just to get someone evicted. I cannot represent my own corporation in court. I am hopeing this is not the case, I am in IL if it matters.
Why do you think you need to operate through a Corporation? Protection from liability? When you start buying properties, you get what’s called an umbrella liability policy. This is what you need much more than a Corporation. You certainly won’t be able to use the tax advantages of real estate as well if you operate through a Corporation (i.e., if you want to pass on losses against your 1040 income).