A tag for questions on real estate or property.

learn more… | top users | synonyms (1)

0
votes
1answer
18 views

Selling equity in investment property?

I've been considering a rental property investment scenario that has been proposed and would like some advice and feedback from those who have much more experience than I do. Thanks very much! ...
3
votes
0answers
55 views

Realtor Credit or Kickback

Its our first home purchase in Maryland, USA. Our realtor agreed to give us 2% kickback (towards closing cost) and she keeps 1% from the 3% commission she gets. If base price of our home is 400K, ...
0
votes
1answer
38 views

Can S-Corp loss offset gain?

I made 2 investments via my S-Corp. The first, in apartment buildings which is being sold for a gain, and the second in a hi-tech startup which failed and closed. Can the loss from the startup offset ...
3
votes
0answers
65 views

Condo in HOA building that has been disbanded

I found a listing for a property that is in a high rise building where the HOA has been disbanded. This is the note from the listing: HOA is disbanded and HOA has past taxes. What pitfalls ...
3
votes
1answer
30 views

Date of sale in real estate - is it date of Close or date of Signing

I'm in the process of selling my home and am getting very close to the time limit on the gains exemptions (2 months from now). The IRS says that the date that matters is the 'date of sale' - is that ...
0
votes
0answers
34 views

Buying an apartment in France

Can anyone list the costs included when buying a flat in France aside from the price tag for non-citizen? I am not a French citizen. Daniel
24
votes
7answers
3k views

What's the catch in investing in real estate for rent?

I can see a 2 bedroom, 2 bathroom $100k property on Zillow (est. mortgage $375/mo) next to a university so rent prospects are good. Rent estimate by Zillow, confirmed roughly by Craigslist: $972/mo. ...
10
votes
1answer
2k views

What does “sits on all four property lines” mean in Real Estate?

I recently read a listing that said, "The nearly 10,000-square-foot property sits on all four property lines, a rarity in Chicago," Apparently this is a good thing, relating to land and property ...
1
vote
2answers
121 views

Hidden downsides of real-estate property tax appeal?

My real-estate lawyer sent me an offer to file a tax appeal on my behalf. I will have to pay some percentage from the tax savings if appeal is successful and my taxes are reduced and won't have to pay ...
2
votes
2answers
287 views

capital gains tax on inherited property

So let's say you have a primary residence that was purchased for $50,000 with no money having been spent on improvements and that it's now worth $750,000 according to the tax appraisal district that ...
0
votes
1answer
65 views

doing a like-kind property exchange and then selling immediately to avoid paying capital gains

Let's say you have an investment property that you purchased for $50,000, that you have made no other improvements and that it's now worth $750,000. If you sell it for cash, out right, you'd have to ...
1
vote
0answers
20 views

Tax implications of reparceling property that was gifted from a trust

I am buying a second home on one full lot and the 1/2 vacant lot next to it. Both are part of a trust. We can't get a single loan to cover both because our lender will not do a bridge loan covering ...
1
vote
2answers
37 views

Are capitalization rate and net profit margin the same thing?

If capitalization rate is the value of the property divided by the net return, how is that different from the net profit margin?
4
votes
2answers
132 views

Seller not fixing agreed upon items

I am buying a home in AL, and am about 30 days away from closing. About a week ago the seller and I agreed upon a list of repairs via an Inspection Addendum and Request for Repairs. Today my realtor ...
4
votes
2answers
152 views

parents doing a downpayment on a house

The IRS let's you gift up to $14,000 to someone without the recipient having to pay taxes. So let's say my parents did the down payment (40%, let's say, of the houses value) of a house for me and I ...
0
votes
0answers
40 views

Splitting Net Sale Proceeds with a Mortgage Outstanding with Parents

My parents and I each own 1/3 as Joint Tenants (with right of survivorship) as stated on the conveyance of the title deed in a principal residence that we all share. The old house on the land was ...
12
votes
3answers
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 ...
5
votes
2answers
379 views

Withdrawing $10,000 from two IRA accounts for first time home buyer expenses

I am married and looking to buy my first home. I am planning on withdrawing around, but not more than, $20,000 for use as a down payment. There are two IRA accounts under my name, both opened by me. ...
6
votes
2answers
6k views

If a house is in foreclosure what does the bank own vs what the former owner owns

So we were having a discussion about what we would all do if we were unfortunate enough to have our homes go into foreclosure. I asserted that all the appliances and even window blinds would still be ...
7
votes
4answers
985 views

Should we use an expected inheritance to invest in a rental property with cash, i.e. no mortgage?

My wife and I will be getting an inheritance soon. There are many ways to invest this money. One thought we had was to take advantage of the down real estate market and buy a house for a rental ...
4
votes
2answers
2k views

How do banks lose money on foreclosures?

I read that when banks give out a mortgage the bank itself doesn't actually lend any of its money out. It is just accounting that adds the money to the borrowers account and adds the same amount of ...
2
votes
1answer
62 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
vote
1answer
124 views

Real estate agent best practice

My wife has recently became a real estate agent, and since we've been flipping houses for some time now. She got really good referrals to get into this business. She is working with really bad ...
8
votes
3answers
597 views

Can value from labor provided to oneself be taxed?

I am considering taking time off from work in order to build a new home in which we would live. It would be my full time job for which no income stream would be generated and would be self financed. ...
1
vote
3answers
178 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
24 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 ...
5
votes
4answers
305 views

How to find a real-estate agent for buying a first home?

How soon should I find a real-estate agent? I am probably going to buy my first home in September and am assuming I will need an agent. So when should I contact one?
0
votes
1answer
59 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
119 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
38 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 ...
0
votes
1answer
57 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
187 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
65 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 ...
5
votes
3answers
447 views

What are the transactional costs when buying and selling a house?

I am trying to breakdown all transactional costs related to buying and selling a house as well as their numerical values. For instance, the agents get around 3% in commission each, the inspection ...
3
votes
1answer
73 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 ...
4
votes
2answers
541 views

401k vs. real estate for someone who is great at saving?

I'm a great saver, and I have no trouble saving at least 40k a year. I'm 25. I'm still not too sold on the 401k idea though... because I feel like it would chip away at my savings/income, money that I ...
1
vote
1answer
53 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
170 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
373 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
63 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
104 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
146 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 ...
12
votes
3answers
12k views

If I sell my house, will I have to pay taxes on the profit?

I am in the United States, in Colorado. I purchased a house in July of 2013. It was in poor condition, so I spent the first two months repairing things before moving in. Now, 11 months after moving ...
3
votes
2answers
81 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 ...
1
vote
2answers
171 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 ...
1
vote
1answer
136 views

1031 Exchange and Taxes?

We were given a property by my father in 2001 who was doing a 1031 Exchange on an investment property. Once we were given the deed and title of the property a year later, we started using it as a ...
2
votes
1answer
69 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 ...
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 ...
5
votes
1answer
152 views

How do secured loans get paid off when selling the asset?

I own a home in California (as tenants in common) with two siblings. My brother took out a loan using the house as collateral. When we sell the house, does the loan get repaid first, or do I get my ...
5
votes
1answer
578 views

How can I save LLC fees when investing in Arizona real estate from California

My sister, brother and I (who live in California) want to invest our money in Arizona real estate. We would like to hold the property in an LLC for liability reasons, and we would really like that LLC ...