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Questions tagged [real-estate]

A tag for questions on real estate or property.

0
votes
1answer
87 views

How to convert land zoned as Agricultural to Residential in Massachusetts [closed]

How can I convert a multi acre land, termed currently as "Zone Usage: Single Family/Agriculture" in central Massachusetts, into smaller residential pieces. What all are the procedures, dues, fees, ...
1
vote
0answers
78 views

If a property settles in 2017 but the proceeds are cashed in 2018 where is the income taxed?

Odd little situation I'm in, as a Realtor have a contract with 12/29 proposed settlement. Buyer is very adamant we settle in 2017 b/c she will itemize 2017 but thinks next year due to tax bill she ...
6
votes
1answer
190 views

Friend is leaving US without ending the lease? What the apartment manager can do?

Friend is leaving US due to visa problem. She has very good credit history. She is planning to pay all the credit card and utility bills. The only thing she is not willing to pay is lease breaking ...
7
votes
3answers
395 views

Where in the US do you need a lawyer to buy a house?

I've been told that in many locations in the US, you must retain an attorney to represent you in purchase of a single family residence. Or, alternately, perhaps you lose a great deal of your rights ...
4
votes
1answer
141 views

Why is a REIT (Real estate investment trust) able to grow and appreciate, given that it is not able to retain its earnings? [duplicate]

REITs have to distribute out most of their earnings to shareholders. This deprives REITs the needed cash to reinvest into their business to grow organically. Wouldn't this stunt REITs' business growth ...
2
votes
1answer
157 views

What criteria should be considered when selecting a residential real-estate appraiser in the US?

As a buyer, if a private appraisal should be performed on residential real-estate prior to purchase, what criteria should be considered when selecting the appraiser, and how can someone locate and ...
0
votes
1answer
918 views

How to write an earnest money check for a written real estate offer?

If I make a written offer complete with terms to buy a piece of real estate, there is the problem of how to draft the earnest money deposit. In previous purchases of real estate I have made, what ...
2
votes
1answer
180 views

sell flat or rent it out as student

I started to study away from home, at the moment I live in my own flat and get everyday by car or train to the university. Its very time consuming as i need about 4 hours everyday only to get there ...
3
votes
1answer
102 views

Withdrawing income from a self-managed super fund holding a rental property?

Do I need to sell my rental property (fully paid for) in my Super fund to start withdrawing from the funds on a monthly basis to live on at 60 years of age, or can I keep renting it and just access ...
0
votes
1answer
188 views

Sell house at a loss or wait for a buyer at a better price?

I've been trying to sell my house for a while and I'm actually renting elsewhere now, closer to my job, during the week. The house is priced where the real estate agent recommended and we have ...
0
votes
0answers
107 views

What should I consider when looking at real estate inside a national park?

This question is specific to the U.S. In particular, I'm looking at property in or near the Great Smokey Mountains National Park. Are there any major financial drawbacks if the property I choose is ...
11
votes
3answers
4k views

Do I have to pay rent to my father when the home is owned by a family LLC I partially own? [closed]

I am inquiring about an LLC-owned property that I am renting. I, along with my three brothers, are owners of the LLC. My parents bought the house originally but then the LLC bought the property and ...
0
votes
1answer
97 views

Pennsylvania real estate - buyer agency contract

I'm buying a home and chosen a real estate agent and am now reviewing the buyer agency contract. One thing in particular about this contract has stood out to me. The buyer's commission is 3.5% stated ...
3
votes
1answer
125 views

UK House buying deposit from sale of current property?

We've just started overpaying on our mortgage so it costs us less in the long run due to interest. However at some point in the semi-near future, we'd like to move house. With this in mind, should we ...
6
votes
1answer
127 views

How to save house down payment as expatriate US Citizen

I am a US expatriate living in Israel and I am trying to save up in the next 7-10 years for a down payment on a house/apartment. The prices here are what some would call a "bubble" here but even if ...
3
votes
0answers
103 views

Capital Gains Tax Example - Question

My wife and I are semi-retired and have 3 children under 18. The capital gains rules confuse me (and are pretty depressing). Our reasons for selling the 1 house are to pay for a boat which we plan to ...
1
vote
2answers
122 views

System of paying money for the apartment

I want to live in the U.S. for half a year and was trying to figure out how much the apartment price will be. I was looking at a shared room website and I found the word “from $875”or so. What does “...
6
votes
2answers
4k views

Where can I find filings of HUD-1 statements?

My wife bought a house in San Francisco about 15 years ago and sold it recently. For our tax (capital gains) we were told that we need to obtain the old HUD-1 form from when the house was bought. ...
4
votes
2answers
158 views

US green card holder and resident, what to consider when buying real estate in Italy?

I am a green card holder, with Italian citizenship, looking to buy property in Italy, while still maintaining primary residence in the US. What should I look out for when making this purchase? In ...
8
votes
3answers
2k views

Is it possible to have 2 residential mortgages at the same time in the UK?

I have recently taken out a residential mortgage on a property that I live in with my family, the property belongs to my parents as they made the payments for the mortgage deposit and they also make ...
1
vote
2answers
115 views

Is this a viable business plan to secure me real estate?

I'm asking here if this is a viable/likely option for me. To put it shortly, I don't make enough money to put a down payment on any house. I am looking for a silent investor who is willing to agree to ...
0
votes
2answers
44 views

Is a real estate attorney needed for builder deposit contract?

I am in the market for a new house and my agent recently showed me a new construction that is only about halfway completed.The builder is financing the construction and he said he can "hold" the house ...
0
votes
0answers
60 views

Shared Ownership Sale of Condo - Association payments count?

My father in South Florida purchased a condo with a friend 6 years ago on a 10 year mortgage. This friend paid the entire down (~10,000) and closing (~$12,000). My father assumed payment of monthly ...
3
votes
1answer
182 views

Capital Gains Tax on sale of land

My mother had in 1995 purchased a plot in Bangalore for Rs 1 lacs. We are looking to sell land for Rs. 30,00,000/-. My mother is approx 55 - 59 years old. Please inform if we need to pay income ...
6
votes
3answers
214 views

How to find a reputable company to help sell a timeshare?

My family bought a timeshare in Vegas. It was basically a scam. There are tons of companies offering to help sell it, but since this area seems crowded with scammers, I'm hesitant to pick any of them. ...
2
votes
2answers
151 views

Is it possible to incur closing costs before closing on a home, by backing out of contract too late?

Someone I know is purchasing a home and has already gone through the inspection, commitment period and all. While waiting on the lender and lawyers to get everything ready for closing, this buyer ...
3
votes
2answers
220 views

How is price increase factored in when I sell my house?

I do not own a home but I am just wondering how capital gains work on a house which is not completely owned by me? For example if I bought a house for 100k and I did put 20%(20k) down to buy that ...
3
votes
4answers
741 views

Looking to buy a property that's 12-14x my income. How can it be done?

I currently have insignificant income due to the fluctuations of my line of work -- entrepreneurship. I do not have any steady income and can't guarantee minimums always -- but I have done some ...
2
votes
5answers
404 views

Family inheritance and property

I would like some advice on property allocation between siblings and parents. We all live in England. I have a sibling whom I love very much. We both get along with our parents who are divorced. We ...
0
votes
2answers
267 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 ...
94
votes
8answers
23k views

How to deal with the credit card debt from family member that has passed away?

My father recently passed away and had some considerable amount of debt on his credit cards. House and credit card were in the deceased’s name only. The state that is happening in is New Jersey. In ...
33
votes
9answers
15k 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 ...
10
votes
1answer
626 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 ...
1
vote
1answer
588 views

Stay in New Jersey or Move to Pennsylvania

I live in South Jersey and work in Philadelphia. My property tax rate is 3.43% in Camden County, New Jersey. A suburb like Blue Bell PA has property tax of 1.2%. I'm not sure what my total income tax (...
2
votes
0answers
51 views

Rules for using Roth IRA money toward a first home purchase? [duplicate]

I've got about 5k in a Roth IRA that I rolled over from a Roth 401k about 6 months ago. I would like to use it and/or continue to build it up and eventually use it for a 1st time home purchase. Are ...
92
votes
19answers
30k views

Are my parents ripping me off with this deal that doesn't allow me to build my equity in my home?

When I bought my condo with cash for $155k, I paid $40k of my own money and my parents lent me $115k. Our agreement was that when I eventually sold the condo, my parents would get 75% of the gross ...
-1
votes
1answer
126 views

what's a fair share of a property to give to an investor? [closed]

Person A owns a property. Let's say it's worth £1 million. Person B also lives there. The property would benefit from some expansion, and this could add some value to the property. Person A ...
-4
votes
3answers
374 views

What precautions I should take when asking friends & family for money? [closed]

I'm based in the UK. As much as possible I prefer "pirate agreements" - simple, 1 page, plain language documents - based on the common sense and covering the fundamental principles. Mutual ...
4
votes
4answers
458 views

Is it wise to invest small amounts of money short-term?

I own a house that is 75 years old and needs a lot of work done to it. I have been setting aside money from each paycheck for the past couple of years into a savings account earmarked for that purpose ...
2
votes
0answers
137 views

Co-owning a house, what happens during chapter 7 bankruptcy?

My mother-in-law is considering filing chapter 7 for her small business. She has about $100,000 debt. Her only asset is a house that she and my wife bought as joint-tenant worth about $700,000 with ...
2
votes
1answer
464 views

Transfer of money from India to US for my son's education

I am currently an US Citizen. I am selling a plot of land that I own in India to an Indian resident. From the proceeds I would like to purchase an apartment in India for my parents use. Would like ...
4
votes
3answers
328 views

How can a REIT fund grow when it has to distribute 90% of their taxable income?

You can't grow that much if you invest only 10% of what's left after dividends
2
votes
1answer
3k views

What is a non-residential grant deed?

In looking at properties on one of the popular property aggregator sites, I've seen some transactions labeled as being "insured non-residential grant deeds." This is usually accompanied by a sale at a ...
0
votes
1answer
315 views

Property sale in India and transfer money to USA to invest in property

I have a property selling in India to another NRI who is willing to pay money to my NRE account in India and transfer to my USA bank account. Can you guide me what and how to work on this issue in ...
1
vote
1answer
66 views

Cost is (maybe) part of basis for two assets

I bought two pieces of real estate from an online auction site. They charged me fee for the right to participate in the auction. First question: Should I count this fee as basis for these assets? Or ...
4
votes
1answer
158 views

Do I have to replace the roof immediately after insurance payout?

I have a $8500 bid to replace the roof after hail damage. Obviously, insurance isn't going to pay out all of it. After the deductible and depreciation, I'm looking at $3700 payout. Are they going ...
2
votes
2answers
586 views

Should I be concerned about buying a piece of property in upstate NY without mineral rights?

I'm about to go into contract on a piece of property in Delaware county NY. My lawyer raised a red flag in that the contract stipulated that the owner may not own the mineral rights to the property. ...
1
vote
2answers
121 views

Homeowners Association with old homes in it, tiny fees?

Normally, I associate homeowner associations with newer developments, gated communities and fees in the hundreds of dollars. In house shopping, however, I occasionally see HOAs that are not like this ...
2
votes
1answer
323 views

Capital Gains Exemption on sale of rebuilt home

We have outgrown the home we've lived in 15 years, it is time to move on. We are exploring our different options to do so. One of the situations we are considering is tearing the place down and ...
35
votes
3answers
8k views

Home inspection for home owners insurance revealed damage my inspection and my lender's appraiser did not see

I recently bought a house in Iowa. I hired a company to inspect the home, they found a few minor things but nothing major. My lender had an appraisal and they didn't note anything either. I purchased ...