Sunwest Trust Video Blog- Buying Real Estate Through your IRA

http://www.SunwestTrust.com -- (800) 642-7167, Informative Blog about buying Real Estate through your IRA.

Hi, this is Dustin White with Sunwest Trust. Today we're filming our second edition of my video blog and we're going to talk about purchasing real estate in your IRA.

When purchasing real estate in your IRA, it's very important to do it correctly. If not, it can cause problems for both you and your custodian and it can take a lot longer. If you follow these basic steps, it'll make purchasing real estate in your IRA very simple and an easy transaction.

The first thing you're going to do is notify Sunwest Trust of your intent to purchase real estate.

The next thing you're going to want to do is negotiate the purchase price of the real estate. There's several ways you can purchase property, if you purchase it from an individual or purchase it on a short sale or a foreclosed home or even purchasing on a real estate contract or a deed of trust, something like that.

All of these things are going to be things that you're going to want to consider before making the investment. So make sure that you figure out what you want to do and you negotiate all these things ahead of time.

The next thing you're going to want to do is make sure that the purchaser on the property is not yourself but your IRA. So all of the documents are going to be titled to Sunwest Trust, Custodian for Your Name, IRA, and then Sunwest Trust will eventually -- when the closing time comes, Sunwest Trust will sign on behalf of your IRA.

Once you've come up with a Purchase Agreement, you're going to want to review that with a CPA or a tax attorney. Make sure that you go over every detail and make sure that you know all the ins and outs so you're not surprised in the future.

Things to consider are -- are there balloon payments, when are payments going to be due, what's the late charge if you're late on the payments -- these are all good things to consider so you don't get any surprises in the future.

After reviewing the purchase agreement and any other purchase documents, you're going to want to send them to Sunwest Trust to have them sign on behalf of your IRA. At this time, we can also send earnest money to a title company or realtor if necessary.

After Sunwest Trust has signed on behalf of your IRA account, it'll be your responsibility to either get the documents back to the Title Company or realtor or instruct Sunwest Trust on how they should get them back to them. We can send FedExs to a title company if we need to. We can also send an email or a fax -- it just really depends on what the title company or the realtor require. Just make sure that you give us thorough instructions so we know exactly what we need to do.

When the closing documents are prepared, please look over them one more time just to make sure that everything is the way that you wanted it to be when you negotiated in the first place. You may want to have a CPA or a tax attorney look this over one more time just to make sure everything's okay. Once you have these documents reviewed, you can give them to Sunwest Trust for signatures.

Thank you for watching our video blog on how to purchase real estate in your self-directed IRA. If you have any questions, you can e-mail your questions to our email address or you can call our customer service line at 1-800-642-7167.

Sunwest Trust does not offer any legal or tax advice. We encourage all of our clients to do their own due diligence. If you have any questions, we encourage you to talk to a CPA or a tax professional.

Category:

Education

Tags:

• Self Directed IRA
• Sunwest Trust
• SunwestTrust
• buying Real Estate
• video blog
• 800-642-7167
• sunwestira

[GuiaDInmuebles]

Im glad that you put this whole thing in the description as well so it is easier to follow along. Definitely some good advice.

[ArixaCapitalAdvisors]

Great presentation!

We've been putting together lots of resources and podcasts for people interested in learning about these types of investments. Do a google search for Arixa trust deed investing FAQs for more info.