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Questions tagged [real-estate]

A tag for questions on real estate or property.

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6 votes
1 answer
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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 ...
J. Penguin's user avatar
4 votes
0 answers
159 views

Does a Lawful Permanent Resident of the US 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 ...
Rob Stening's user avatar
4 votes
0 answers
245 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 ...
ems's user avatar
  • 41
4 votes
0 answers
486 views

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 ...
user avatar
3 votes
0 answers
77 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: ...
simplemind's user avatar
3 votes
0 answers
98 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 ...
Brady's user avatar
  • 31
3 votes
0 answers
125 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 ...
maplemale's user avatar
  • 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) ...
Henry Lee's user avatar
  • 163
3 votes
0 answers
82 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 ...
Croad Langshan's user avatar
3 votes
0 answers
253 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 ...
Bev's user avatar
  • 31
3 votes
1 answer
175 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 ...
AdamC's user avatar
  • 39
2 votes
0 answers
76 views

Is it a "bare trust" if a title holder owns only a fraction of a property?

There's a lot of press right now about new rules for reporting of bare trusts in Canada. CRA info: https://www.canada.ca/en/revenue-agency/services/tax/trust-administrators/t3-return/new-trust-...
Kate Gregory's user avatar
  • 13.4k
2 votes
0 answers
68 views

Tax and selling a property in the U.K. before moving to Canada

I would appreciate some advise on this: If you sell a property in the UK to move to Canada, and then transfer the money from the sold property to Canada, will you have to pay tax in Canada on the ...
ichi's user avatar
  • 21
2 votes
0 answers
57 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. ...
christopher page's user avatar
2 votes
0 answers
53 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 ...
turtle's user avatar
  • 21
2 votes
0 answers
78 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 ...
PJS3's user avatar
  • 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 ...
piny88's user avatar
  • 59
2 votes
0 answers
110 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 ...
Mandy's user avatar
  • 21
2 votes
0 answers
220 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. ...
Prabu's user avatar
  • 141
2 votes
0 answers
56 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 ...
michaelkovarik's user avatar
2 votes
0 answers
116 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 ...
user4910112's user avatar
2 votes
0 answers
99 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, ...
Prabu's user avatar
  • 141
2 votes
0 answers
139 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 ...
nonopolarity's user avatar
  • 1,593
2 votes
0 answers
33 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 ...
kyle Sybesma's user avatar
2 votes
0 answers
1k 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 ...
user9847788's user avatar
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 (...
user's user avatar
  • 500
2 votes
0 answers
92 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 ...
Elizabeth Leeson's user avatar
2 votes
0 answers
54 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 ...
Jeremy's user avatar
  • 21
2 votes
0 answers
88 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?
Dave Harris's user avatar
2 votes
0 answers
65 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 ...
Mike's user avatar
  • 21
2 votes
0 answers
205 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?
Cade's user avatar
  • 19
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 ...
tom's user avatar
  • 271
2 votes
0 answers
357 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 ...
Gabriel Diego's user avatar
2 votes
0 answers
121 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 ...
tom's user avatar
  • 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 ...
Vicky's user avatar
  • 24k
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, ...
Jim's user avatar
  • 21
2 votes
1 answer
93 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 ...
juhist's user avatar
  • 6,743
1 vote
0 answers
30 views

Community property settlement

In a community property state , When one spouse dies and has left their half of a house to other persons; when must ownership of that half house be transferred ? Can ownership of half a house be ...
blacksmith37's user avatar
1 vote
0 answers
68 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 ...
Meeran Mohideen's user avatar
1 vote
0 answers
56 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 ...
Kiera.K's user avatar
  • 111
1 vote
0 answers
44 views

How to calculate profit on real estate after x years?

If I want to calculate the "profit if sold" for a property after X years, what is this calculation based on? One thought is it is equal to the projected sale price (based on some assumption ...
fraxture's user avatar
  • 111
1 vote
0 answers
28 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 ...
WestCoastProjects's user avatar
1 vote
0 answers
90 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 ...
user102086's user avatar
  • 1,242
1 vote
0 answers
44 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 ...
user39329's user avatar
1 vote
0 answers
53 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 ...
King Ted's user avatar
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 ...
Derek's user avatar
  • 865
1 vote
0 answers
32 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 ...
urdearboy's user avatar
  • 111
1 vote
0 answers
28 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 ...
Brondahl's user avatar
  • 2,395
1 vote
0 answers
79 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 ...
Karin's user avatar
  • 11
1 vote
0 answers
64 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 ...
capybara's user avatar
  • 153