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Questions tagged [real-estate]

A tag for questions on real estate or property.

0
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3answers
155 views

Buying a flat abroad through British LTD company

I'm an IT contractor in the UK, I'm considering buying a flat in Poland, rent it on Airbnb or work remotely from there. I'm thinking if it's worth buying it through LTD company in my case. Would it ...
5
votes
1answer
408 views

How can I trade my 20% inheritance equity to a sibling for real property in their name?

My father passed away in July 2014. His residence was willed equally to his 5 children. One of my siblings wants to buy the property from the rest of us but needs a bigger equity share to get a loan. ...
2
votes
1answer
82 views

Looking to calculate expected profit from sale of house

I'm trying to calculate the money I will see as profit from the sale of my house. I'm tallying the various expenses associated with selling and would like input on any costs I'm missing. I'm in ...
2
votes
1answer
52 views

How to estimate the profitability and risk of investing in rental properties?

There was a recent question, Is it a good idea, to buy a flat with a loan, whilst using the rent to pay it off?, which was closed due to asking opinion-based advice. However, the question can be ...
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
57 views

Minimum rental yield for real estate

There are some German books: (Praxishandbuch Baufinanzierung Praxisleitfaden Immobilienanschaffung und Immobilienfinanzierung) about home financing, which mention that you shouldn't buy a property ...
3
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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 ...
3
votes
0answers
77 views

Classification of rental property closing costs?

I understand rental property closing costs fall into 3 buckets: added to cost basis of property for purposes of calculating depreciation (title costs, transfer and government fees, inspections, etc) ...
3
votes
0answers
110 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, ...
3
votes
0answers
69 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 ...
3
votes
0answers
227 views

HST vacant lot severed from a farm for sale, zoned residential but still has crop on it

I am considering selling a piece of land that was severed as a residential lot from our family farm. The crop has been planted on it, even though it was legally severed as residential. If I sell ...
2
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0answers
68 views

Tax on apartment purchased abroad

I live in the US and purchased an apartment abroad. I transferred 200,000 dollars directly to the seller, so I never opened a bank account abroad. My understanding is that, if no income is generated (...
2
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0answers
59 views

Would there be tax due on an inheritance received from a U.S. citizen that lived in the U.K.?

My mother passed away in August. She was a US citizen living in UK for 40+ years. Do my brother and I have to pay tax to bring the cash into the US? No tax had to be paid in UK. Not a big ...
2
votes
0answers
45 views

Canadian citizen step parent signing over US owned property to us citizen adult children

My mother who is a US Citizen recently passed, and my step father who is a Canadian citizen with permanent US resident who is living in Canada now with no plans of returning to the US. He doesn't want ...
2
votes
0answers
70 views

I am Canadian and own a cottage in the US. I want to gift it to my 2 Canadian children. What are the tax implications

I own a cottage in Point Roberts Wash. I am a resident of Canada and want to gift it to my son who is also Canadian, What taxes apply to this transaction?
2
votes
0answers
59 views

Selling a portion of a co-op and taking full 250k deduction?

I an single and own a 3-bedroom 2-floor co-op in NYC... the result of a combination of two units. If I separate the duplex into two separate units and sell one (while keeping the other as my primary ...
2
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0answers
134 views

I am buying a house to flip. Can I get a solar tax rebate if I add solar?

I am buying a house to flip. Can I get a federal solar tax rebate if I add solar?
2
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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
0answers
279 views

How to know if landlord actually owns the property in Paris?

I'm looking to rent a flat in Paris and I had some doubts if some people showing me the flats actually own the properties. I fear that someone could scam me by illegally subletting me a flat or even ...
2
votes
0answers
76 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 ...
2
votes
0answers
174 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. I'...
2
votes
0answers
943 views

HST rebate when buying a vacant piece of land / lot and building one's own new home on it?

I am looking at buying a vacant piece of land from a developer and building a house on it. I realize I must pay HST on the purchase of the land. If I act as the contractor/builder of my new home, ...
1
vote
0answers
30 views

Do HUD settlement statements get sent to the federal government?

One of the forms I see prepared for a real estate transaction I am doing is a "HUD Settlement Statement". I am paying cash, but the form refers to me as a "borrower". The top of the form looks like ...
1
vote
0answers
23 views

What documents do I need to sell a real estate property in Canada?

What documents do I need to sell my real estate property in Canada & Which particular document is the proof of my ownership? I believe it is some kind of title, transfer and survey document?
1
vote
0answers
71 views

Why does Redfin have so much lack in coverage?

My preferred tool for house hunting is Redfin, but one area of frustration is that large geographic areas are apparently not served by Redfin (see screenshot below, gray areas are unserved). Why does ...
1
vote
0answers
77 views

Agent Comission rebate when not listed on HUD-1

Our mortgage consultant mentioned that the lender did not approve of multiple rebates we received (Seller's credit, rebate from the Mortgage Consultant). As a result, the commission rebate from the ...
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 ...
1
vote
0answers
37 views

Do wages limit amount of deductions in year with very high capital gains

Does my income from wages (24K) limit the itemized deductions I can take when my total income is mostly from Cap Gains earned from selling a longterm rental property (200K after accounting for base ...
1
vote
0answers
159 views

Can a sponsored spouse buy a house in Canada while her permanent resident application is still being processed?

I will get married with my Canadian partner, and plan to buy a house for us in Canada. However, I am currently not a permanent resident of Canada yet. I will apply for being a permanent resident of ...
1
vote
0answers
118 views

Partial exclusion from short-term capital gain due to change of job

My wife and I, filling taxes jointly, just closed on a $160K house on July 22nd. Due to unexpected circumstances I will have to quit my job in the US and get a new job in Europe. As a result we would ...
1
vote
0answers
94 views

How to read loan estimate, what to look for?

We are buying a newly constructed house and have been trying to compare loans from 2 different lenders (builder lender and our own lender). They both sent us the loan estimate sheet in similar format ...
1
vote
0answers
230 views

Guidelines on when to buy or rent an apartment (in Europe)

I am currently facing an important decision for my life: I finished studies and will soon enter industry to work. Due to the fact that I will likely earn some money on a regular basis, I want to ...
1
vote
0answers
84 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
0answers
126 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 ...
0
votes
0answers
23 views

Which is the best way to sell a house in Italy to a foreign investor?

I bought an apartment in Venice (Italy) in 2013 with my ex GF. The plan was to renovate it and move there. She broke up with me after some months so we have never had the chance to live there. The ...
0
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0answers
34 views

Are life annuity properties worth the risk for non-EU residents?

I am almost done paying off the mortgage of my principal residence, and I still have some good working years ahead of us. I wonder what I should do with the equity that I have accumulated over the ...
0
votes
0answers
38 views

Calculating capital gains tax on the sale of a house

How does the CRA calculate capital gains tax when a house is sold in Canada and if the sale makes a loss are the proceeds of the sale held back until the next tax year? Thanks
0
votes
0answers
62 views

If I convert a primary residence to a rental, are the cost of improvements potentially lost?

According to the IRS: When you change property you held for personal use to rental use (for example, you rent your former home), the basis for depreciation will be the lesser of fair market ...
0
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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 ...
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 ...
0
votes
0answers
29 views

Transferring overseas personal property to my company (incorporated IT in Canada)

My wife owns a condo overseas She would like to transfer this condo to our Inc. (Incorporated IT professional) and to start renting it. I think that this falls under Transfer of a property to a ...
0
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0answers
213 views

Can a co-owner on the house deed force me to sell it after he abandoned it?

My ex and I live in Wisconsin. We bought a house together seven years ago. After 1.5 years he moved out. He said he wanted nothing to do with the premises but is now saying that I either must sell the ...
0
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0answers
251 views

Sold a Property with a Mortgage on it. What is the Journal entry?

We sold a property with two mortgages on it. How do we post this journal entry please. Figures as follows: Received From Purchaser Cash to close: $414,905.40 Paid to Mortgage one Holder: $...
0
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0answers
47 views

RT-2 zone : townhouse or house?

We live at Great Vancouver area Canada, and we own a detached house (though it is a strata house in a strata community, all houses are physically detached from nearby houses), and it is within RT-2 ...
0
votes
0answers
142 views

How to find small vacant lots to buy?

I would like to buy a small vacant lot so I can erect a small warehouse and store stuff there. However, the problem is that people don't generally advertise the sale of small, empty lots with no ...