Questions tagged [house-sale]
The house-sale tag has no usage guidance.
48
questions
2
votes
2
answers
417
views
How to evaluate options for selling a rental property
I own inherited rental property in the San Francisco Bay Area, and have been thinking about doing a 1031 exchange into Chicago, where I now live, for a few main reasons. One, I inherited the property ...
- 429
1
vote
0
answers
101
views
Selling a home while Canada Disability
My friend on disability and want to sell my house and buy a smaller one. They will profit from the sale but will put that money into a new house. Will this count as income and mess up my disability?
I ...
- 11
10
votes
9
answers
19k
views
What's the cheapest way to buy out a sibling's share of our parents house if I have no cash and want to pay less than the appraised value?
My mother passed away, leaving 75% of her house to me and 25% to my sister, setting this up as a trust. The house was appraised at $944K, based on the time of my mother's death (November 2022).
I want ...
- 227
0
votes
2
answers
210
views
Potential ways to mitigate realtor's seemingly massive conflicts of interest, when buying a home
I recently tried to make an offer on a home in Pennsylvania, and after reading the contract, I noticed what seem to be several massive glaring conflict of interests for the buyer's realtor.
Realtors ...
- 263
1
vote
0
answers
708
views
Is Home Sale Legal Protection worth buying?
I'm selling my home and curious if "Home Sale Legal Protection" plans are worth purchasing. They are self described as covering the cost of lawyers for legal disputes about the information ...
- 161
3
votes
1
answer
96
views
How to report buyer penalty on sale of house to the IRS?
I sold my house last year. A portion of the house included a residential rental. The buyer was several weeks late closing escrow. I charged the buyer a per day penalty to cover my mortgage interest ...
- 185
0
votes
1
answer
127
views
Can either of the following Unforeseeable Events allow me to avoid capital tax on a sale of an apartment abroad?
I used to live in my apartment which is located outside the U.S. I have been renting it out for 5.5 years. I saw on the website of the IRS that if there were Unforeseeable Events then one can avoid ...
- 39
4
votes
2
answers
893
views
Bank account limits: How do I pay for a house?
I am planning to buy a house next year, which is likely to cost $500k+. To fund the purchase, I’ve been selling stocks that I’ve acquired or been given by my employer over the course of many years. ...
- 43
0
votes
2
answers
141
views
Buying house in the UK
My situation is the following. I found a house in Leeds (UK) that I liked that was advertised for 160k asking price in May 2021. I viewed the house and liked it so I entered into a biding war with ...
0
votes
1
answer
190
views
Is a delayed investment a valid agreement among family?
Our family is currently in a bit of dispute over the future of my mother's home (she is still living).
I apologize if my explanation here is more complicated than it needs to be; I have simplified the ...
- 101
1
vote
1
answer
720
views
How to record house sale in Quickbooks Online
My wife and I recently sold our house, and I'm trying to record this sale in Quickbooks Online (we use QBO for our personal/family finances). We had several deposits made to our bank account (most on ...
- 11
2
votes
1
answer
208
views
FSBO - showed house directly to buyer (without realtor involvement) then buyer submits an offer to their realtor. Who pays Realtor's commission/fees?
I recently showed my house to a friend of a friend, before officially putting the house on the market. The buyer then contacted me that evening advising they'd submitted an offer on my house to their ...
- 21
0
votes
5
answers
485
views
Why would a bank not "buy a house for me" if they own the house until I've paid it anyway? [duplicate]
I find myself in a situation where I'm trying to buy a house, but don't have the money readily available. And my bank won't give me a loan, in spite of not having any problems with loans/money in the ...
- 1
5
votes
1
answer
181
views
Resale of a House with Estate Rentcharge
Made an offer on a c. 40 yr. old freehold house in London. Had offer accepted.
When going through the docs as part of pre sign-off due-dilligence, turned out there is a 300 GBP / year Estate ...
33
votes
6
answers
9k
views
Why do real estate agents always ask me whether I am buying property to live-in or as an investment?
Trying to buy a house.
Along with -- what is the maximum you are willing to pay -- this is the most frequent question.
Why do they care whether I will live in it or rent it out? The two are not ...
0
votes
2
answers
127
views
Is this how I can achieve the minimum break even price if I sell my apartment?
I am planning to sell my apartment in New York City. I have only owned my apartment for 2 years, so I know I most definitely won't be able to "break it even." I think a more realistic goal ...
2
votes
1
answer
596
views
Lack of transparency in house buying process between buyer, agent, and seller
I'm in the process of buying a house. I have put in an offer on a house. The agent says he is waiting for other offers.
He could come back to me and say someone else has put in X amount above asking ...
- 123
0
votes
0
answers
84
views
UK First house purchase - Amount solicitor has requested is greater than the amount I am expecting
I am currently in the process of buying my first house (UK), and am nearing the point of exchange of contracts. I have started transferring funds to my solicitor ahead of the exchange, but have ...
- 839
24
votes
4
answers
7k
views
Buying a house. Seller wants cash now and move only next year, renting same house in meantime
A relative of mine found a fantastic house on the market (Canada), evaluated 750k. He knew there were 3 other buyers making offers and he was entering a bidding war. He made an 800k offer and was the ...
- 343
0
votes
1
answer
89
views
Home Lender Shopping: Should I use Savings Funds to Zero-out Credit Cards?
[USA] A seller just agreed to my offer on their house ($500k). This would be my first, and I am about to start reaching out to lenders for loan offers. I have $50k in savings ($15k in cash and $35k ...
25
votes
8
answers
7k
views
Selling a House Upfront Or Collecting An Income Over Time?
Suppose that you have a house worth $500,000.00 that is gifted to you and this house is completely paid off. The people who want to purchase this house will need to go to the bank to get a loan so ...
- 399
27
votes
11
answers
11k
views
Should I ask the seller of a house for a price reduction given a recession is almost certain?
I've gone sale agreed (note: "sale agreed" means the sale has been agreed in principle - no contracts have been signed, no non-refundable deposits have been made etc.) on a house. The market ...
- 327
5
votes
0
answers
73
views
Using an estate agent's solicitor
I know using a mortgage advisor connected with an estate agent is a bad thing to do. It reveals to them how much money you have and means you risk paying more.
However, I've now reached a state where ...
- 232
2
votes
0
answers
136
views
If you are married, your house's capital gain is tax free for the first $500k. But what if your spouse is not a citizen?
If she is not a citizen or if she doesn't not have a green card yet, does this apply?
I think the rule is that she also has to live in the house for 2 years in the past 5 years, so she will need to ...
- 1,593
2
votes
2
answers
195
views
Roof warranty 5 year versus 25 year- Would it allow me to get more money back in a house I plan to sell?
I inherited a 1960 house worth over 200k in tax assessment. It's has some issues though....foundation and internal renovation to become updated in styles.
I bought full coverage insurance for it. A ...
- 123
25
votes
8
answers
8k
views
What's a good strategy for offering low on a house?
We are in the UK and interested in purchasing a house, but the highest offer we could make is substantially below the asking price by around 5%.
However, we have some advantages over other ...
- 1,281
0
votes
1
answer
93
views
Pay the downpayment in 24 months or save money then pay the downpayment in 1 go?
I am planning to buy a house. In our region, you have the option to either pay the downpayment in a monthly basis if it is too much of an amount for you. That is the first option.
2nd option is to ...
- 103
0
votes
3
answers
283
views
Splitting home sale when not everyone paid mortgage
My friend and her husband bought a home with another friend. The friend contributed a small amount for the down payment and has been paying rent but is listed as an equal co-owner on the deed. The ...
- 1
3
votes
2
answers
283
views
Sold one house but not planning on buying another for several months. What to do with the funds?
So some background. I recently sold my first house to move for a new job. The housing market is much hotter here than where I was. I am looking for a house, but am comfortable in my current ...
- 133
0
votes
1
answer
168
views
What's the process for buying a house in Mexico, Central America or South America?
What is the process of buying a house in any Latin American country that anyone is familiar with for a U.S. citizen? I know the 50km border/shore zone law, but what does the process entail. How do I ...
1
vote
3
answers
596
views
Selling house tender vs auction, which gives the best price?
If I want to sell my house, what is most likely to give me the best price?
A tender (where people submit their offer in writing, which are all compared on the closing date)
An auction (where ...
- 670
0
votes
0
answers
34
views
Buying house through assignment of contract
I'm thinking of buying an investment property through an assignment of contract. I plan to do normal inspections and title search, just as I would with a conventional sale.
Assuming title is clean, ...
39
votes
9
answers
46k
views
'For Sale by Owner' - who pays the Buyer's realtor?
If I list my home and hang a sign out 'for sale by owner', and a realtor brings a buyer in, who wants to buy it, who's going to pay the realtor?
I did not hire him, so I don't want to pay for him. ...
- 37.7k
7
votes
3
answers
412
views
What is the most financially appropriate approach to flipping and selling this home?
A few years ago, I purchased a home at $142,000 that has 12 bedrooms, 4 full bathrooms, a workroom, a basement with cement flooring, and an attic. In my divorce, it was awarded to me, as my ex was ...
- 171
5
votes
1
answer
312
views
Finding problems with house after purchase
We recently bought a house in Nebraska, USA. I am British and this was my first experience of the US home buying process (and I hope my last!). I am hoping for some guidance as to whether either the ...
- 151
3
votes
1
answer
510
views
Should I be concerned about inherticance if sibling is living with parents?
My parents are about to retire this year, and have a comfortable pension from my Dad's various trade jobs he's worked over the years ($120,000.00/year), which is corrected for inflation each year. ...
- 33
0
votes
2
answers
421
views
Math Behind Buying a House with Calculations
This is a follow-up question to Math Behind Buying a House
As many answers pointed out, my calculations in the previous question were flawed. What do you think about the updated calculations below ...
- 429
32
votes
8
answers
16k
views
Math Behind Buying a House
Is following calculation correct?
I spend $1500/month on average on rent. If I rent for the next 3 years, I would be spending $54,000.
I can buy a house for $220,000 today and spend the same amount ...
- 429
13
votes
1
answer
1k
views
I want to list my home for 2.5 million with a flat fee broker. Do I still have to pay buyers agent 3% commission?
I am located on Seattle's East Side where the real estate market is hot and inventory low, so I doubt I'm going to have a difficult time selling my home. 99% of buyers first search online to find the ...
- 139
3
votes
2
answers
220
views
Pay off taxes with new home loan
Bought our home for 230k in 2010. It will now sell for 390k. We are interested in buying our "dream home", which is 520k.
At this time we have $6k in owed taxes. Is it possible during the sale of ...
- 133
0
votes
1
answer
131
views
What are the risks involved with a Bridge Loan? [duplicate]
We are buying and selling a house.
Our new house closes one day before our current house closes, therefore we require a bridge loan to make the down payment. I would like to understand the risks ...
- 631
0
votes
2
answers
132
views
How do I figure out the next step in deciding to sell my home to the market or to a uniquely interested buyer?
I am going to be selling my house soon. It just so happens that the owners of a rental property next door once expressed interest in our home. (In case it's valuable info: They used to live in the ...
- 121
32
votes
9
answers
13k
views
Can I buy a new house before selling my current house?
I am looking to sell and buy a house. But with the current market being as crazy as it is (houses are selling fast for sometimes 150,000 over asking), I'm afraid if we sell first, we could be stuck ...
- 631
0
votes
2
answers
2k
views
How to divide Equity in a co-owned home?
Five years ago my girlfriend and I purchased a home. I put down $65,000 of my own money The rest came from our joint account ( around 20k). We have since broken up and have about $150,000 in ...
- 11
3
votes
1
answer
441
views
Freehold vs Leasehold - Selling
What are the differences between freehold and leasehold houses/flats when it comes to selling?
- 31
3
votes
2
answers
936
views
How to use proceeds of old house sale shortly after buying new house?
Here's the story:
Paid off Mortgage #1 for House #1
Bought House #2 with Mortgage #2 (30 year fixed at pretty good rate)
Sold House #1 after about 4 months of paying down Mortgage #2.
My question is ...
- 131
1
vote
1
answer
551
views
Sale of house profit gifted to child
Financial Details:
House purchase price £125k.
Estimated market value £180k.
Parents combined yearly salary £65k.
Childs income £35k.
Explanation:
My parents purchased a house in 2013, with the ...
- 127
1
vote
2
answers
144
views
Selling house, better to have renter or not?
I own a house (single family detached home) in an area where about 25% of the houses are rented either partially or fully.
If I want to sell the house would it be better to have a renter or not?
...
- 9,785