Any questions related to Home Ownership. There is a related specific tag for Mortgages. It is recommend you include a country, state tag, or location in your question.

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12
votes
4answers
2k views

What percent of the profit do you get from selling a home with a mortgage?

This is a very simple question, but I've had a hard time finding a simple answer. Suppose Bob has a home that's worth $100k, with a mortgage, with $50k of the principal paid off (so he still owes the ...
0
votes
0answers
47 views

Pros and cons accepting partial ownership of company as opposed to inheriting

My father owns property (buy to rent) and manages this through a small business in the UK. He probably has assets worth in the region of 750,000 GBP but is also still paying down the mortgages on each ...
0
votes
4answers
204 views

How can we force one of the joint owners of a shared property to sell it?

I live in CA. I co-own a house with my sisters. The older sister is living in the house in Texas and won't speak to us, so cooperation is not a solution. How do we get her out of the house so we can ...
0
votes
2answers
144 views

Is there any reason to add my spouse to home title?

I am about to move to Texas and am under contract to purchase a house with 100% cash. I went on the house hunting trip alone so my wife is not listed in the contract. My realtor suggested that I ...
1
vote
1answer
86 views

Cost comparison of cities

I'll graduate very soon with a computer engineering degree. I'm lucky enough to be in a field where there's a lot of openings in the city I live in right now (population: 100 000) but it requires a ...
0
votes
0answers
43 views

real estate property that spans across multiple jurisdictions

Hopefully this isn't off topic, it's about real estate and this is the best SE site I can find. I'm looking at starting a business on a fairly large parcel of land. Once I looked at the assessor's ...
0
votes
1answer
51 views

Home Ownership Entitlement [closed]

I need some advise please. Me and my girlfriend bought a house together. The cost of the property was R720 000.00. I gave R500 000 cash and she got a bond registred in her name for the remaining R220 ...
5
votes
5answers
559 views

How do I calculate ownership percentage for shared home ownership?

I am having trouble coming up with the ownership percentage I should allocate to each co-borrower. Here are the details: My husband and I are one co-borrower and my sister is the other. We are ...
-3
votes
2answers
120 views

Is UK house price spiral connected to debt based monetary system? [closed]

Is the monetary system's debt basis* driving government policy on housing and property, and how could this ultimately affect personal housing affordability? The UK has an ongoing 'situation' with ...
4
votes
1answer
121 views

Capital gains when selling in the US and buying in another country

I have owned my home for over 10 years. I would like to sell it and buy a new house, and I understand that if I do so, I can avoid paying capital gains. My question is, if I'm buying the new house ...
1
vote
1answer
295 views

Basic bookkeeping account entries for a house purchase and mortgage?

I borrow 200,000 to purchase a house worth 250,000, putting down 50,000 of my own. The borrowing is at 5% over 30 years. What are the basic double-entry bookkeeping entries I must make to record this ...
2
votes
0answers
144 views

Maintenance costs for home geothermal heating & cooling / ground source heat pump systems?

My realtor showed me a brand new house that has a geothermal cooling and heating system built in. I did some online research and here is the link to that builder's geothermal system explanation. ...
6
votes
2answers
926 views

Can my mortgage company force me to buy condo hazard insurance?

I live in the United States and have a mortgage for my condominium. After 10 years under my current policy, I suddenly received a letter from the lender, saying "A review of our records indicates we ...
3
votes
2answers
696 views

United Kingdom: Where to save money for a property deposit

I'm currently 22, and I would like to buy a property at some point in 5-10 years, once I can afford the down payment (deposit). I live and work in London England, so for this example, assume my ...
2
votes
2answers
620 views

Whats tips do you have for someone beginning to invest in property?

For a first time investor interested in investing in property, what are the options? Would they be better off buying their own home and holding it for capital growth, or a buy-to-let property they ...
0
votes
1answer
49 views

Loan Application in South Dakota

A co-worker of mine is going in to apply for a loan and start the closing documents for their home, and from the sounds of it they are not going through a Realtor because they are already living in ...
1
vote
1answer
73 views

Selling a home with rules test question

My overall question may require some background so I will detail some items. They may or may not apply. I owned a home in Pa. from Dec 2007 until Aug 29, 2011 in my name only, even though I was ...
7
votes
1answer
338 views

Can't sell my house because of HOA delinquency rate

Just found out a few days before settlement on the sale of my house that most lenders will not lend funds to a buyer if the property they are purchasing is part of an HOA community where more than 15% ...
3
votes
2answers
74 views

Can I rely on my home equity to finance large home repairs?

There are certain "big ticket" home repair items with long expected lifetimes, such as your furnace or your roof, that could fail suddenly before that lifetime is up and need immediate replacement. ...
2
votes
1answer
269 views

US tax Implications on (sort of) buying a house in India

I live in the US (a student on an F1 visa) and my dad, who lives in India, is buying a house in India. He wants to register the house in my name, just as a gesture. I am NOT investing any money in the ...
1
vote
2answers
389 views

Refinance when going to sell?

I currently own a home with a mortgage at 4.25%. I'm five years into a 15 year loan. My wife and I would like to sell within the next three years and we have almost 50% equity in the house. We ...
3
votes
1answer
151 views

Dealing with Home inheritance

I have been living in my grandmother's house for the past 20 years. The house has been paid off for years. During that time, I have taken care of her and the house until she got bedridden. My aunt had ...
-1
votes
1answer
130 views

Renting or owning my home?

I have been renting a home now for about 4 yrs. The money just seems to go into the monthly rent and its gone. Would I be better off purchasing and owning my own home. I live off of Social Security ...
0
votes
2answers
190 views

What is a “property tax assessment”?

Zillow list property taxes near the bottom of any listing. There are two main columns, Property Taxes and Tax Assessment. On an example $350k home for 2014, Zillow list the two values as: $1900 and ...
2
votes
2answers
218 views

Steps to buying a home

My wife and I are looking into buying a home. We are discussing home vs. co-op, I don't want the co-op I'm to worried about re-sale which I think will not exist. Basically what are some good steps to ...
30
votes
5answers
4k views

What are the economic benefits of owning a home in the United States?

I am trying to figure out if owning a home is more economical then renting. According to all the tools, according to the rent I pay now (< $800) owning a home is not economical, even in the long ...
5
votes
5answers
455 views

Home owners association for houses, pro/cons

(there is a question about home owners associations for condo communities here, so this is a) not a duplicate and b) fit for this website) In most contexts where I hear about a home owners ...
19
votes
5answers
6k views

Dad paying for my new home in cash. How can I buy the house from him?

We found a home we would like to purchase (U.S.). It was the 2nd day on the market and there were already two other offers for it, so we decided to make a cash offer ($230K) as my dad agreed to pay ...
5
votes
4answers
317 views

Sudden Wealth Management

My father passed away last week. I am not yet sure how much his life insurance is, it will be anywhere between 100k and 250k, which I know is a big range. Either way, I am having a bit of anxiety as ...
0
votes
1answer
147 views

Financial implications of purchasing a first home?

My girlfriend and I bought our first home and I'm wondering what finance topics this touches on? Some relevant info might be: We're in Vermont We aren't married We bought the house in late June ...
13
votes
6answers
4k views

Is it okay to put household utilities in girlfriend's name if I own the home?

I just bought a house. My girlfriend is going to be living with me, but the house is in only my name. To split the expenses, we are planning on her paying all of the utilities. Is there any problem ...
4
votes
1answer
203 views

What are the costs of using home equity to invest in another property?

I'm wanting to find out some details of using the equity I have in my home to invest in another property. Specifically, about the costs of the loan(s) involved. I'm currently assuming I need a ...
2
votes
2answers
57 views

Need to Purchase Homeowner's Association Documents?

I'm selling my home. As part of the transaction, I'm being asked to get some documents related to my homeowner's association: the bylaws, the rules and regulations, minutes, something called a 22.1. ...
2
votes
2answers
389 views

Can I afford this condo?

I just found a condo I really like and I am debating with myself whether it would be a good idea to pursue it from a financial perspective. I'd like to get some educated, objective opinions on my ...
4
votes
3answers
513 views

I am turning 18 and I am a Student, I need strategies on building great credit soon. Where should I start?

I am High School student in the top ten percentile and I am turning 18 in a few months. I need strategies on how to build and maintain a great credit score quickly. I have had the same job for over a ...
1
vote
0answers
107 views

Standard versus Enhanced Owner's Title Insurance

We are getting ready to close on our house, and I was wondering the circumstances under which an enhanced title insurance is better than a standard ALTA owner's title insurance. Here is a comparison ...
3
votes
1answer
178 views

What is a cash back mortgage and should I consider using one?

In speaking with a mortgage adviser recently, I found out about cash back mortgages. I was wondering if someone here knows about this and could tell me if they are a good idea? To give you some ...
6
votes
4answers
715 views

Am I really house poor?

This is my financial situation and I hope that someone can guide me. I have been in the market for a house to buy. There is a house that I like and I wanted to know if I could afford it. I have ...
2
votes
3answers
236 views

If I have a lot of debt and the housing market is rising, should I rent and slowly pay off my debt or buy and roll the debt into a mortgage?

I'm a Canadian divorcee who walked away from marriage with debt. I have a great income, but I owe $60K on a line of credit and credit card debt as a result of litigation. I pay $1,500/month in rent. ...
6
votes
1answer
150 views

How do I enter a house sale into my accounting package?

We sold our house and purchased a new one. The money from the sale went into our lawyer's trust account, and then was passed onto the vendor that sold us the new house. In my accounting package, I ...
3
votes
1answer
161 views

How much capital gains tax is due on the sale of a home if most income comes from Social Security?

My 94 year old widowed mother wants to sell her house. Her only income aside from Social Security is a $150/month retirement check from a job she had years ago. How much, if any, capital gains tax ...
5
votes
1answer
320 views

Can I bring a real estate agent with me after my first visit to a new home?

I am looking to buy a house, and I am a first-time buyer. I am reading a book on home buying, and it says the following with regard to new homes: "You might have to deal with the developer's ...
8
votes
1answer
10k views

How do I sell a home that's owned jointly if my partner doesn't want to sell?

I own a home jointly with a partner. I have made all the payments, taxes and insurance since the beginning. I have a buyer for the home but my partner does not want to sell. How can I override his ...
1
vote
0answers
136 views

How can I hedge against local home value?

I'd like to hedge against my neighborhood home value. I'm not terribly concerned if the overall housing market fluctuates, since if I move and sell my home for less, I can buy a new home for less. ...
3
votes
2answers
416 views

How to get the lowest mortgage rate on a new purchase?

Looking for a home loan in the mid $400,000, with 20% down on the value price, a first home purchase and in the U.S. What strategies can be applied to ensure the best interest rate possible? What ...
4
votes
1answer
140 views

Does a land with an existing foundation (poured-in) qualify for a conventional home mortgage?

Based on my research, loans for land and construction lots are usually at a much higher rate than those for the purchase of a home. However, if a home does have an existing foundation poured in, will ...
1
vote
1answer
131 views

Can I take money from my 403b to buy a home at 65 years old without penalty

I will be 65 years old in July. My mother died and left my siblings and me her home. Can I use the money in my 403b to buy my siblings out?
8
votes
3answers
2k views

When is the right time to buy a car and/or a house?

I am a 24 years old young IT professional. Since I don't have addictions to anything including drinking, I mostly save a lot (around 50% of my income after tax like $15-$25k a year). Currently I drive ...
2
votes
1answer
75 views

Is a trustee sale winning bid all inclusive, or are prorated taxes & fees due?

Is my winning bid at a trustee sale on a foreclosed home all inclusive, or can the trustee make us pay prorated taxes and home owner association fees? If we must pay the fees, when would they be ...
2
votes
1answer
78 views

How do I obtain the foreign equivalent of homeowner's insurance when buying a vacation home in another country?

I am considering purchasing a property in another country as a vacation home. I'll continue to live in the US (nation of citizenship), but may consider using the foreign home as a retirement locale, ...