Questions tagged [real-estate]

A tag for questions on real estate or property.

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0
votes
2answers
113 views

Renting Part of the Home

I am currently living in a rented house. I am thinking of buying a home with the intention of renting out a section (for example, a two story house, live on the first floor and rent out the second ...
4
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1answer
186 views

Identical flat put up for sale just before us

I live in a block of flats, where each flat is (or was originally) identical. Half are a reflection of the others, and the ground-floors are different from the non-ground-floors, but other than that ...
3
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1answer
38 views

Do I need to buy a new property to get the tax exclusion from Section 121?

I've owned and lived in my primary residence for about 3 years now. I am about to sell it in a few months and, when searching online for tax information, I saw many references to both Section 121 and ...
3
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1answer
117 views

How to invest in property in the UK - mortgage vs cash buy

I'm fairly new to investing and I've never learnt to invest in different asset classes. Since my career has kicked off really well in the recent 3-4 years, now I'm planning to invest in property. I'...
54
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19answers
13k views

Are there any financial disadvantages to living significantly “below your means”?

By living "below" your means I'm asking about spending significantly less than you could, rather than living "within" your means which of course is sensible if you are able to do it! So for example: ...
0
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1answer
116 views

US citizen gifting real estate to non-US citizens

Annie, a US citizen, has 2 houses (around $60K each) to give to her family members and try to avoid or minimize gift tax. She would like to give (a) one to her mother, a US permanent resident; and (b) ...
3
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1answer
78 views

Are inheritance tax and capital gains due on UK property joint owned by parents and children?

Around twenty years ago my parents amended the ownership of the family home so it was jointly owned one quarter each by my parents, my sister and I. At the same time they made wills stating that their ...
1
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1answer
34 views

House property loss adjustment with carry forward loss from previous year

I have a query regarding situation below for tax implication : Carry forward loss from previous year under head house property loss : 60000 Current year house property loss : 120000 With above, ...
2
votes
3answers
197 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 ...
2
votes
1answer
191 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 ...
1
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2answers
454 views

Is it more financially sound to own 100% of one property or 50% of two properties?

Property A: 3-bed flat in a decent location, say, worth $100k Property B: 2-bed flat in a marginally worse (but still decent) location, say, worth $75-80k Person X and person Y both inherited 50% of ...
0
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3answers
204 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 ...
1
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1answer
68 views

UK limited company buying UK real estate: KYC and AML requirements

The situation is the following: Our family has setup a structure of companies to manage our investments into real estate. There is ACME Limited, a UK limited company properly registered in the UK, ...
0
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2answers
105 views

buying property , loan and collateral

If one owns a property that's worth 200K, is it possible to get a loan to buy a second rental property for 100K, given one owns the first property outright, using it as collateral? Does this person ...
34
votes
7answers
12k views

Selling a property - multiple offers of same value?

In the U.S., when selling a residential property, is there a rule or law regarding how to handle multiple offers of the exact same monetary amount? Is this the kind of thing that would vary state-by-...
1
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0answers
18 views

1031 Exchange Scenario

I'm looking to sell a single family rental property for $400K and buy two with a 1031 exchange. I should have about $150K to put down. I may look at turning one of the new properties into my primary ...
21
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3answers
7k views

Are those flyers about apartment purchase a scam?

Let me start by stating that I know the golden rule: "If you need to ask if it's a scam, it very likely is". In this scenario my "spidey-sense" is tingling, however I can't quite see how would this ...
0
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5answers
288 views

Can you go broke by investing in prime real estate?

If you follow the classical mantra 'location, location, location' and invest regularly in prime real estate, or, according to your economical level, in a company or fund that does this, what can go ...
2
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0answers
145 views

Is there a 1031 Exchange equivalent in Ireland?

I've recently been looking into buying real estate investments, & I've read about a 1031 Exchange in USA. Here is a definition I've found: Thanks to IRC Section 1031, a properly structured ...
5
votes
3answers
373 views

Can I purchase a 2 bedroom Philadelphia condo, live in one room, and rent the other?

I am in the process of purchasing a condo in North Philadelphia. The situation is great and my offer has been accepted. I received Condo Association documents to review and have 4 days left to review ...
2
votes
1answer
175 views

Why do UK Property developers/investors create a company for each property they buy?

I am currently researching on UK property development and buying. An interesting website for that is the https://beta.companieshouse.gov.uk/website. While browsing through it, it became apparent to ...
2
votes
1answer
103 views

Tax implications of selling UK property as US residents, while keeping cash proceeds in the UK?

We are currently selling our UK property and complete in a couple of weeks. The original plan was to transfer the money to our US account and pay off our US mortgage, but the exchange rate is ...
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0answers
50 views

Title company cost breakdown for home buying

A close friend is first-time buyer, and is closing a home with a title company in Chicago area (Cook county). After many issues with his lender not delivering the funds on time on 7/26, he has to ...
4
votes
5answers
291 views

how to determine value of time share

At a resort, we were offered to buy one week of timeshare. It sounded gimmicky and their pricing was not clear. The starting ask price was a one time $50k payment and a yearly maintenance fee of ...
35
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8answers
11k views

High income, sudden windfall

I currently earn quite a good salary (around $250,000 Australian dollars per year). Due to a recent investment coming good I am expecting to be receiving a windfall of around $1.2 million Australian ...
1
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0answers
41 views

Renting and selling a US house while being a EU resident

Clearly anybody can buy a residential property in the US. If one buys for investment and lives in EU (say UK) where does he/she pay rent and sales tax? US or UK?
0
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3answers
232 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 ...
7
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0answers
221 views

Paying for nursing home care: What is the relationship between Medicare and owned property?

This question is prompted by a comment in a question I asked previously regarding the finances of aging parents (assets include a small savings and some property). I will summarize the comment as ...
0
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2answers
105 views

Future planning [duplicate]

My wife and I bought our current house about a year ago. We love it. The location is great with many new projects coming to the area, including a train station, a shopping plaza and a marina by the ...
45
votes
9answers
19k views

I won USD 50K! Now what should I do with it?

I won a sweepstakes and will be getting USD 50k...it is verified that it is legitimate although no taxes have been taken out so I will have to claim this income on my taxes next year, they will send a ...
28
votes
5answers
8k views

My father has passed away and I want to buy his home

My father has passed away and I want to buy his home. There is no mortgage left and I will be paying off my sister half of the house value. Do I need to get a new mortgage?
1
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2answers
239 views

Sharing father's property with my brother

My father owns a piece of land which he wishes to share between his two sons - me and my brother. I do not wish to own the land and would rather take my share of the money (in other words my brother ...
0
votes
1answer
130 views

Why many people are trying to sell their property in Southern Chennai?

I am planning to buy an apartment in Southern Chennai, India. I searched in a leading property website 99acres.com and wondering about some results. I searched all residential buildings+land in the ...
14
votes
4answers
3k views

What are the practical implications of buying a house in a high Earthquake risk area?

I am purchasing a house in Indio California, that is described as being in an high risk Earthquake area. That sounds scary but the actual stats for the area are less so: Nearest Earthquake: 2.9 ...
3
votes
2answers
305 views

About opening an LLC with little to report in the beginning

I am a full time employee in Texas and my wife is a stay at home mom. We are buying our third house and it should be ready in about 11 months. We rent out our current 2nd home (of which we own about ...
2
votes
4answers
548 views

Investing in real estate when the stock market is high, investing in stocks when it's low?

I'm wondering as to whether or not the following investing strategy is viable: Invest in real estate when the stock market is high (i.e. it's been going up for numerous years, no recent large drops) ...
1
vote
1answer
183 views

Is it better for a couple to buy a house together?

Is it better for a couple to buy a house together; forfeiting (I believe) one of their First home buyer's grant. This way both put into the loan and it gets paid off much sooner resulting in less ...
2
votes
0answers
180 views

How to obtain “Negative Equity Insurance” aka “Home Equity Protection” aka “Equity Protection Policy” in the UK?

I'm searching for an insurance policy to protect against negative equity on a residential real-estate. The risk I'm trying to protect against is that house prices will fall. I'm looking for ...
36
votes
6answers
9k views

How risky is real estate?

I have a friend who plans to retire by putting all of his money in local real estate. He makes a huge return on investment on the property he has now - something like 25%. Fundamentally, I think ...
4
votes
1answer
87 views

Does Internal Revenue Code section 1031 enable perpetual depreciation to offset income?

I've recently come across Internal Revenue Code section 1031, which as I understand it allows me to postpone paying taxes on income from the sale of an investment property, so long as I purchase a ...
0
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2answers
183 views

Buying strategies for foreclosure condos

I saw a foreclosure condo which seems upgraded by the bank. I really liked the place, but the price can be cheaper. Can we negotiate with the bank on such foreclosure houses? What are some ...
1
vote
0answers
50 views

Is it possible to sell a portion of a house that someone still lives in (In Italy) to a third party?

I have a friend who owns (along with hr brother and mother) an equal share in a family property that was inherited from the father when he passed away last year. It is a large property (six bedroom), ...
1
vote
2answers
170 views

Is it a wise decision to buy a home in the current market in a coastal market where prices are at a premium [closed]

I am looking at the possibility of purchasing a property in the San Diego costal area, however I wanted to get some feedback from people that know the economic outlook better than I would. Is it a ...
7
votes
3answers
1k views

Selling house via estate agent vs selling property to developer, UK. Why price difference?

Background: I am executor for my father's estate, and the major asset is his house. There is a minor difference of opinion amongst siblings whether to sell house via estate agent, or to a property ...
2
votes
1answer
52 views

Rental Property 1031 Exchange & Boot

Is a mortgage "boot" still considered a recognized gain even if the debt, LTV (loan to value) and purchase price have all increased or remained the same in the exchange? Note: If you aren't familiar ...
0
votes
0answers
62 views

Quit Claim Deed: Role Titles

I currently own my house with my son. The deed is a joint tenancy with rights of survivorship between me and my son. I would like to relinquish my portion and give it to my wife, with my son's ...
15
votes
2answers
7k views

Typical discount for cash purchase on $1+ million homes?

I understand that it is common to get lower than the asking price when offering cash for home purchase, but I am unclear how much a discount I should look for. Also, I am wondering to what extent it ...
-1
votes
1answer
56 views

Taking out an SBI apartment mortgage loan in Chennai, India and transferring the money to the USA in dollars

I plan to take a mortgage loan on my apartment in Chennai from SBI and then transfer that money to the USA in dollars. Will I lose any money in the transaction like taxes, etc. ?
7
votes
6answers
2k views

Does the growth of home value benefit from compound interest?

I read Investopia's definition and my take away is that compound interest applies to an investment that yields some return on a regular basis and that yield is reinvested in that instrument. If I have ...
0
votes
0answers
105 views

Building a house during times of economic upturn

Since 2008 the aftermath of the recession, the economic crisis has turned from recession into a rise and better economic times. In some places, in western european cities, this means housing prices ...