Questions tagged [real-estate]
A tag for questions on real estate or property.
89
questions with no upvoted or accepted answers
6
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0
answers
141
views
How do I calculate Private Residence Relief for a house I've sold where there was a loss, not a gain?
This question is likely specific to UK rules.
I've sold a flat which I lived in for part of the time I owned it. I'm trying to fill out the Inland Revenue's 'report my Capital Gains Tax' form.
I've ...
- 61
4
votes
0
answers
58
views
Does a Lawful Permanent Resident have to pay a tax when buying real estate?
The Alleged Tax
Two years ago, my wife (US Citizen) and I (Permanent Resident) bought and moved into a house in Colorado (Greeley, Weld County). At closing, we were just about to put both our names on ...
- 141
4
votes
0
answers
240
views
How long must I wait after buying a property to rent it out?
I bought a place as a first time buyer without mortgage. Consequently I paid a 3% stamp duty. Due to certain circumstances, I will have to rent it out. I would like to know how long before I could ...
- 41
4
votes
0
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433
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Do you have to pay taxes on a Unison "investment"?
I keep getting these Unison solicitations in the mail. Another question discusses whether or not this is a good deal in general, but one thing I don't see mentioned is taxes. I have searched quite a ...
user12515
3
votes
1
answer
50
views
UK resident selling a house in Italy
I purchased a house in Italy for €250,000 in 2014. At the time, I was a student in the UK, and I didn't officially transfer my residency to the UK. I now (2023) work and live in the UK (and I've been ...
- 187
3
votes
0
answers
75
views
Selling apartment, what taxes do I have to pay?
If I understand the tax laws in Germany correctly, it is as follows:
Case 1: If I owned the apartment at least 10 years I don't have to pay taxes if I sell at a higher price than I bought it.
Case 2: ...
- 413
3
votes
0
answers
90
views
In general, does "the market" prefer or dislike bottom-floor apartments/flats?
I can see both many pros and many cons of living in a bottom-floor apartment, as opposed to one on any other level/floor. I'm undecided myself, actually. However, I'm asking about what the general ...
- 31
3
votes
0
answers
123
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 ...
- 1,541
3
votes
0
answers
89
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)
...
- 163
3
votes
0
answers
81
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 ...
- 131
3
votes
0
answers
250
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 ...
- 31
3
votes
1
answer
172
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 ...
- 39
2
votes
0
answers
56
views
capital gain tax
Born 1959 in Ireland, immigrated to US In 1981. Purchased a property in Co Meath 2002 for K100. Property consisting of three acres with old uninhabited house structure with many stone outbuildings. ...
2
votes
0
answers
42
views
1031 exchange to buy out another party?
Can a 1031 exchange be used to buy out another owner of a residential rental property?
Say two people own one rental house 50/50. There is no assumed business name, LLC or partnership. The deed has ...
- 21
2
votes
0
answers
58
views
Is an American waterfall (distribution) ever preferable to a European waterfall for an LP?
Waterfalls outline how cashflow will be distributed between general partners and limited partners. In the European version, the GP (sponsors) do not receive carry until the LPs original investment is ...
- 177
2
votes
0
answers
54
views
What are the correct terms for a fixed payment with variable rate mortgage vs variable payment with variable rate mortgage?
What are the correct terms for a fixed payment with variable rate mortgage and variable payment with variable rate mortgage? I've read on some articles that a variable rate mortgage and adjustable ...
- 59
2
votes
0
answers
63
views
Canadian citizen living in Canada wants to gift a US property to a Canadian living in the US. What do I all need to know?
My uncle wants to gift a piece of property in the USA that apparently is worth about $8,000 to my sister and I. We are both Canadian citizens living in the US as permanent residents. Just curious ...
- 21
2
votes
0
answers
148
views
Passing a property from parent to (adult) child in Australia (NSW)
My father is retiring and would like to pass on the family home to my sister and me. We are both adults now and do not live in the home. I should also so mention, we are based in Sydney, Australia.
...
- 141
2
votes
0
answers
53
views
How are property values affected by property taxes and HOA fees?
How do fixed costs impact the value of an asset? Specifically, how do I compare condo prices with wildly different HOA fees and property tax rates (e.g. NJ vs NY)?
Should I augment the price with the ...
- 133
2
votes
0
answers
114
views
Tax implications when paying all-cash for real estate that is under your unmarried partner's name?
When buying real estate, title company usually asks how title should be formed. So had few questions when buying property together (or for) partner with whom you are not married, but have been living ...
- 613
2
votes
1
answer
352
views
Does A Good Listing Agent Really Make A Difference?
Considering the agent is providing the same service to all of his/her clients. What other factors do you need to consider in looking for the best listing agent?
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2
votes
0
answers
66
views
Property conundrum - UK vs Australia
I'm an Australian living in the UK and have been here for 5 years. I've saved up lump sums on both sides of the world. They are both enough to put forward towards a deposit on a property.
Currently, ...
- 141
2
votes
0
answers
134
views
If you are married, your house's capital gain is tax free for the first $500k. But what if your spouse is not a citizen?
If she is not a citizen or if she doesn't not have a green card yet, does this apply?
I think the rule is that she also has to live in the house for 2 years in the past 5 years, so she will need to ...
- 1,563
2
votes
0
answers
32
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
2
votes
0
answers
893
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 ...
- 129
2
votes
0
answers
80
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 (...
- 500
2
votes
0
answers
91
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
0
answers
51
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 ...
- 21
2
votes
0
answers
84
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?
- 21
2
votes
0
answers
62
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 ...
- 21
2
votes
0
answers
150
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?
- 21
2
votes
0
answers
153
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 ...
- 271
2
votes
0
answers
332
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 ...
- 796
2
votes
0
answers
115
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 ...
- 271
2
votes
0
answers
82
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 ...
- 21.9k
2
votes
0
answers
1k
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, ...
- 21
2
votes
1
answer
88
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 ...
- 6,705
1
vote
0
answers
61
views
How do I get exempted from property taxes in India for lack of basic civic facilities?
My property comes under panchayat administration and I have been paying my property taxes for the past 5 years but since time immemorial no basic facilities like road, drainage and street light at ...
1
vote
0
answers
29
views
What rules and regulation do I need to keep in mind when purchasing property in India while on H1B
I am currently in the US on an H1B visa. I want to buy a flat in India for my parents. But I am not aware of any rules and regulations regarding taxes or any restrictions if there are any. I will be ...
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1
vote
0
answers
26
views
Are there any expenses related to managing renovations on a remote property that can be applied to increasing its cost basis?
I purchased a home in another state that has needed major rehab and renovation. I have been traveling to the location to organize, design, and monitor the numerous jobs performed by contractors (all ...
1
vote
0
answers
86
views
How can I invest in mineral rights?
The USA is one of the few countries in the world with privately-owned mineral rights. Are there methods I can use to gain investment exposure to mineral rights?
I know that I could buy land that have ...
- 1,232
1
vote
0
answers
42
views
Property, income and capital gain taxes for buyer when home bought under "option to buy" contract?
Seller messed up advertising on house and needs few more months to bring few things up to code before he can sell. Hence as alternative solution seller is offering to rent out home to prospective ...
- 11
1
vote
0
answers
50
views
Two year rule for excluding long term capital gains from the sale of my primary residence
I have two homes I live in equally. I travel between the two weekly. I spend 3 nights in one and 4 nights in the other and then flip that. Sometimes I stay a week to ten days in either of them at a ...
- 11
1
vote
0
answers
99
views
Taxes on selling a house I rented
I paid $200,000 for a house in 2007. I lived there until 3 years ago, at which point I rented it out because the real estate market was not good. Now, it is able to be sold for $250,000
I understand ...
- 875
1
vote
0
answers
31
views
Year End Taxes for Property Sale
My grandmother & grandfather (who are now divorced if that matters) purchased a 5 acre lot in Texas in the 1980's for $30,000. In 2017 my grandmother signed her portion of the deed over to me and ...
- 111
1
vote
0
answers
25
views
How to assess a price for splitting a Freehold
I've just bought the freehold of a property. More specifically...
The property is a 3-storey House, with a 2-storey maisonette on the first 2 floors, and a separate flat on the top floor.
The ...
- 2,021
1
vote
0
answers
74
views
Are property taxes prorated per quarter or per fiscal year at closing?
We just closed on a property last week, and were surprised to see that property taxes were prorated for only the quarter in which the closing happened (Q3), and not for the full fiscal year.
Our ...
- 11
1
vote
0
answers
57
views
How would investing in real estate (REIT or similar) affect my tax situation in the U.S.?
My wife and I are in our 30s and bought our first house this past year. We don't expect to have enough money to buy a rental property or another house in the foreseeable future, but we are ...
- 133
1
vote
1
answer
80
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, ...
- 11
1
vote
0
answers
46
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?
- 119