A tag for questions on real estate or property.

learn more… | top users | synonyms (1)

2
votes
3answers
154 views

Do I need to tell an estate agent how much a bank is willing to lend us?

We live in the UK and are hoping to move home. We wanted to put an offer in on a house. We have already spoken to our bank who have given us a letter stating the amount we are able to borrow. (Its the ...
0
votes
0answers
21 views

What special considerations need to be made for a US citizen who wishes to purchase a house in Canada?

According to an answer on a previous question, buying a house in Canada if you are a US citizen is pretty straightforward. But it doesn't address tax concerns in both countries - how are they ...
0
votes
1answer
53 views

Hire my own surveyor or trust the my neighbor's?

A neighbor with whom I share a property line has informed me that the fence we thought was on that property line is incorrectly placed. Of course it's too far on his side (otherwise he probably would ...
1
vote
2answers
108 views

Real Estate: Please review my recent investment (with numbers from recent purchase)

I recently bought a brand new home as a rental property in Syracuse, NY: Price: $200,000 Down payment: $40,000 (20%) Monthly payment: $1,500-1,600 a month (~$800 mortgage + ~$700 for taxes) Price ...
1
vote
1answer
26 views

In which infrastructure bonds should one invest to avoid capital gains tax after selling a property in India?

This is a follow-up question to Taxes on sale of property What are the available infrastructure bonds and can one withdraw that amount at any moment or some lock-in period is there? How capital ...
2
votes
1answer
40 views

Tax on Sale of Property

My uncle has sold his property and he deposited the money he received from selling the property. I like to know, if he keeps that amount in his bank account for an year, will that money be taxed? He ...
-1
votes
1answer
54 views

Sale of a rental house

I have a rental house that I'm thinking about selling to the renters. They have lived there for 9 years. I am now 75 years old and no longer able to keep the house in shape when there is a problem. ...
-1
votes
2answers
172 views

How much money should I put on a house?

My mother passed away and left me with 100,000 dollars. My boyfriend and I decided that we would go ahead and buy a house. We are living with my dad right now and have 2 kids and we are both 22. I am ...
0
votes
1answer
64 views

important considerations when expected monthly returns seem implausible relative to the purchase price of real estate? [closed]

as a concrete example: this property has been on the market for two months for $39,000 with tenants who allegedly pay $1,000/month in rent. before taxes, that's a 31% annual return. could anyone ...
3
votes
1answer
71 views

Property taxes collected at closing weren't assessed correctly

We sold a home in March 2014. The lawyer who drew up the closing paperwork did it incorrectly and only charged us $900 for property taxes. The actual bill came out to $2400 for 2013. The current ...
1
vote
1answer
48 views

How does a variable interest rate loan work?

I took out a $100,000 loan on my house on a variable rate loan at 4.5% for 30 years. For example, see this calculator. Assuming the interest rate stays the same, the final cost will be $145,000. In ...
4
votes
2answers
162 views

Unethical, Illegal, or Business as usual? When negotiating a contract, can open contracts on comparable properties be disclosed?

I'm currently negotiating a contract for a home via my agent and a listing agent. As part of the negotiations, the listing agent has disclosed details of another contract that his colleague is the ...
3
votes
3answers
352 views

Tax deductions on empty property

Some one that works with me told me about a wealthy person that owns a lot of large buildings in our city. He said the guy would rather keep the buildings empty and is using the empty buildings as ...
2
votes
1answer
56 views

Selling a portion of my attached land and renting the main house

I have been offered 40k for a section of my land that is considered a side lot to my house. The buyer is going to work and pay all cost in separating the land. I plan on moving and renting my house. ...
0
votes
2answers
74 views

Do I need to do a title search on land? how about title insurance? lawyers?

I am looking at a piece of land that is being sold for 25k. As I understand it, I need to do a title search before any transaction is done. I've already looked at the tax assessors website and seen ...
0
votes
2answers
130 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
2answers
165 views

Property Trust - who or what is the Owner?

I'm trying to work out an arrangement to use some neglected UK property held in trust by a not-very active corporation. I'm puzzled by the nature of trust ownership. In essence, who owns land held in ...
2
votes
1answer
65 views

What factors to consider for deciding between forming an LLC vs taking insurance on rental properties

My friend and I (both living in California) want to buy a couple of rental properties (one in Texas and other in Florida). Looking through the various websites and forums on the internet, we could ...
3
votes
2answers
80 views

What to look for when evaluating a mortgage lender?

When evaluating mortgage offers in the US for a primary residence, obviously the rate and fees is important to consider as it impacts the bottom line. Having a lender who is responsive when trying to ...
0
votes
0answers
36 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 ...
7
votes
1answer
357 views

Wife wants to buy me out of our house - how to do this?

My wife and I want to separate, and have agreed in principle that she will pay me half the value of the house we share and I’ll move out. As she has just inherited a large amount following her ...
7
votes
3answers
222 views

What argument(s) support the claim that long-term housing prices trend upward?

The eminently useful New York Times Buy or Rent calculator assumes a 3% average annual rise in home prices. Curious whether that value made sense, I did some research and came across the views of ...
1
vote
1answer
125 views

Inspection Contigency - Form 35 (NWMLS)

After a residential home inspection has occurred, and both parties have signed/initialed an inspection response (NWMLS Form 35R); What are the buyers options for recourse when the seller does not ...
0
votes
3answers
93 views

How to shop for mortgage rates ?

I have already been prequalified with 3.8% (but I am sure I can do better :)). Now, I am about to make an offer on a house. So, once the seller accepts my offer, how do I rate shop ? Do I need to ...
2
votes
0answers
41 views

What is the economically rational way to fund leasehold property management?

I am trying to find a company to manage the block of flats (apartment building) I live in. What is the economically rational way to pay for property management services, According to traditional ...
2
votes
1answer
220 views

Would I qualify for the 2/5 year exclusion if I've only owned the property for 2 years?

I’ve owned a property for 2 years exactly. I’ve lived in it for just over 12 months and have rented it out for 12 months so far. I want to understand if I would pay taxes if my gain was under ...
3
votes
1answer
119 views

Building a new primary residence before selling the current one

Our current primary residence (in MD) is under contract to a property developer, and we expect to go to closing in about 24 months. If we build a new primary residence on property that we own in ...
1
vote
2answers
540 views

When a real-estate counter offer is made, and ignored, can the seller still accept the original offer?

Buyer makes an offer. Counter offer is made. Buyer has meantime seen another house they prefer, so choose to ignore the counter offer. Is the Seller then permitted to accept the original offer? Does ...
7
votes
2answers
493 views

I am thinking of buying a property to split into 2. How do I determine the costs basis on the existing house?

This is a property on over 2 acres. I'd like to buy it, split the property and rent out the existing house. Then build myself a new house on the other portion of the property. How would I determine ...
4
votes
1answer
340 views

Knob and Tube Just Discovered in House I'm Selling “As Is” - What to Do?

My wife had an electrician in the house 10+ years ago and thought he was removing the old knob and tube wiring as part of the overall system upgrade to 200 amp service. An electrician there yesterday ...
12
votes
8answers
7k views

Can I back out of a house purchase after the inspection if the offer stipulates “as is”?

I made an offer on a house in the state of Arkansas, and got a counter offer, and now I am about to accept it. However, there is one thing that bugs me: the counter offer requires me to buy the house ...
2
votes
2answers
138 views

Is there any instrument with real-estate-like returns?

I want to shift part of my portfolio away from stocks into real estate. I've found that if I bought real estate directly I could expect about 10% in yearly returns. The problem with buying physical ...
3
votes
3answers
107 views

What purchases, not counting real estate, will help me increase my cash flow?

I've read several books that recommend making purchases that increase your cash flow. Most point to real estate as the way to go, however this requires a big commitment and some working capital. Is ...
2
votes
1answer
81 views

Owned house for less than 2 years - 1031 exchange?

My wife and I bought our first house about 8 months ago. It turns out it's not the right fit for us (for many reasons). Because of this, we want to sell it and move to the suburbs on the other side of ...
0
votes
2answers
285 views

Why are Rausch Coleman houses so cheap? Is it because they don't have gas?

I have been looking for a new house for 5 months now. An average price per square foot in my area is $100. However, Rausch Coleman Homes is offering very nice and SUPER CHEAP houses for $75 per square ...
10
votes
2answers
2k views

Do I owe a finders fee to my tenant's broker if they didn't bring me the referral?

I am currently using a broker to help me find new tenants for my rental home. Currently, she has only advertised the home on Craig's list. However, at an open house that she was hosting for another ...
1
vote
1answer
108 views

Can I remove additions from a forclosed home? [closed]

I would like to buy a porch off a foreclosed home however removing the porch will leave a huge hole in the side of the home is it legal for this guy to sell me the addition he added on? to add the ...
1
vote
2answers
142 views

Is renting out a house still a lot of trouble if you rent through a real estate agency?

I often hear people speak about the difficulties of renting out a house, such as dealing with damage to the property, delinquent tenants, occupancy, etc. Where I live (the US), real estate companies ...
5
votes
1answer
1k views

Can I put what I earn from the sale of my house in the bank?

I bought my house for $247K in 2000 but refinanced and now owe $300K. I've also put in at least $12K in upgrades. I can probably sell the house for $450K, for a profit of $150K. Should I quickly ...
0
votes
1answer
79 views

Can the Philadelphia Center City District Tax be deducted on my Schedule-A?

I'm a full time salaried employee living in Center City Philadelphia. I own my own home and I am wondering if the Center City District Tax can be deducted from my federal taxes on the Schedule-A form ...
2
votes
2answers
128 views

Is “affordable housing” being added across the street from my condo likely to decrease my condo's value?

I live in a pretty nice condo in a growing area. There are several open fields around my neighborhood, and the city has decided to build "affordable housing" apartments directly outside the perimeter ...
2
votes
0answers
48 views

Is there any possibility of doing an equity release deal on a property you don't (currently) own?

There are various equity release schemes to let you release some of the tied-up value in a property you own, see eg. http://www.equityreleasecouncil.com/faqs/ Is it ever possible to jointly purchase ...
1
vote
0answers
54 views

Do i need to declare property in India when living in USA [duplicate]

I have been living in US and paying taxes, filing FBAR to declare the foreign bank accounts. My question - do i also need to declare my property like the house in which parents are living (but its in ...
1
vote
1answer
57 views

What is “Last escrow analysis date”?

I am looking at the 'Escrow Details' on my mortgage and the "Last escrow analysis date" is listed as as 05/01/15. Obviously that date has yet to come. So what does this date represent?
0
votes
1answer
87 views

How do practically determine a house's value

How should someone determine the value of a house, practically speaking? I understand it helps to look at the price of comparable places in the area, but there are so many variables at play that I ...
0
votes
2answers
73 views

Tax implications of selling a non-owner-occupied house and receiving installments

My mother is in the process of selling her rental unit to a buyer. They have a contract laid out where the buyer is making 10-year amortized payments for 5 years, with a balloon payment at the end. ...
1
vote
2answers
152 views

Possible to remove condo townhouse fees?

Apologies if this is a dumb question. I was recently advised by a real estate professional that I should look into getting myself a condo townhouse because they are way more affordable than buying ...
0
votes
1answer
48 views

Trading an FHA loan to bank for an REO

I hope this is the right location for this question. I couldn't find a section that better fit this question. If this is not the right place please let me know. I got a house 3 years back using an ...
1
vote
1answer
68 views

Tax Implications - First 2-Family Rental Property

My brother and I have opened up an LLC and have put an offer on our first 2-family for a rental. We have some questions on loans/tax implications for the business that we're hoping to get some ...
2
votes
2answers
616 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 ...