Questions tagged [real-estate]

A tag for questions on real estate or property.

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0
votes
1answer
3k views

Ontario new home/condo HST rebate: What is the price without HST if the price is $400,000 including HST?

What is the actual purchase price of a new condo without HST, if price is $400,000 including HST? The condo is in Mississauga, Ontario and the buyer is not a first time home buyer.
5
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3answers
1k views

Is there a formula to use to analyse whether an investment property is a good investment?

How do I determine the real cost of buying an investment property over time considering rent, interest, expenses and capital gain? I know there are many factors at play but is there a generic ...
10
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3answers
2k views

If you buy a new home before selling the old one, what could happen from not paying the old mortgage?

I'm researching the process of selling a home and buying a new one. Several articles warn against buying the new home before the old one is sold because you may end up having to pay two mortgages. I'm ...
4
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2answers
1k views

Where should I invest my savings?

I am 29 year old living in USA, married and expecting first child this summer. We are debt free and both have stable jobs. I have a side business earning me about $30K net income a year. We have about ...
6
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1answer
30k views

How does a real estate agent get paid when they're helping us find rental properties (in the US)?

My wife and I are looking into moving to a new area and would like to rent initially. It would be good to enlist the services of a local real estate agent in the search for a good rental property as ...
7
votes
6answers
681 views

Is it a good idea to buy a house with a low ARM monthly payment, then rent it out?

I'm looking around for houses in my college town to rent to others, and I've found a decent 4-bedroom house with an interest-only 5 year ARM monthly payment (of $1700). Assuming I have enough to ...
2
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1answer
321 views

Residence vs investment property in Australia?

I find the Australian property tax laws really confusing. If you live in a house that you own, then it is your residence. In which case, you cannot claim the interest as a tax deduction. However, you ...
20
votes
7answers
31k views

What is a good rental yield?

If you are thinking of buying a property for investment purposes, what is a good gross yield? I've been told you should take 3 zero's off the price of the property, so if a property is worth 400,000, ...
2
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4answers
2k views

I turn 18 in a month, what should I invest in?

In about a month I will turn 18 and I want to begin investing so I can retire early. Should I invest in stocks,real estate,etc. Not sure if this is necessary information but I make about anywhere from ...
1
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1answer
2k views

HUD-1 limit on realtor commission rebate?

My wife and I are buying a new house and we are using the builder's mortgage company. Assume our HUD-1 breaks out like this (numbers manufactured to hide real transaction amount): Line 103 - ...
2
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1answer
2k views

Tax lien investing: Possible in Canada?

I was just reading on the tax lien investing process and how it works in the United States. I was wondering if it happens in other countries. In specific, I would like to know if it happens in Canada ...
5
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2answers
1k views

What are the pros and cons of buying a house using an FHA loan?

My wife and I are considering buying a house. Recently a friend told us they put down a really small amount to buy a house. We found out later that it was through the FHA. I'm a freelancer and my ...
10
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3answers
3k views

To buy a house, is a 20% down-payment required for a mortgage?

My wife and I want to buy a house. The price is well within our means. The mortgage payment would be less than 25% of our gross income and we have no other debt, so we're comfortable with the payment. ...
3
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2answers
4k views

Can a parent legally qualify for section 8 housing by transferring all assets to their child?

My mother wants move out of her large house and into an apartment. She wants to move to section 8 housing which has lower rents, but first must get rid of all her assets to qualify. Is it legal for ...
2
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0answers
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, ...
1
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1answer
2k views

Hedging a foreign currency purchase (INR/USD) for a real estate transaction?

I'm looking to purchase a property in India, where the local currency is INR. My earnings are in USD. My down payment on this property will be in the range of 100-200k USD. The USDINR exchange rate ...
2
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3answers
488 views

Is it generally better to buy a property when the housing market is in a downtrend or an uptrend?

I've been pondering this question for a while. If I buy property when the market is in a downtrend the property loses value, but I would lose money on rent anyway. So, as long I'm viewing the ...
4
votes
1answer
2k views

If I default on my mortgage do I get my deposit back as a % of the sale of the property?

Say I put down 50% deposit on a house (in the UK), and the other 50% is provided through a mortgage, what happens if I default? Does the bank walk away with the property and the potential of selling ...
5
votes
2answers
441 views

How can I find a bank willing to provide a mortgage on a house affected by Japanese knotweed? (UK)

How can I find a U.K. bank that would consider providing a residential mortgage on a property affected by Japanese knotweed? The problem is fairly minor and is under control. If you've been able to ...
5
votes
4answers
373 views

Are real estate prices memory-less?

Stock prices are claimed by some/most to be "memory-less" - there is no evident correlation between past performance of a stock, to its future performance. Do real estate prices exhibit similar ...
1
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2answers
100 views

How to analyze the option of refinancing a home?

5 years ago when the market was up I bought I a home. This house was in my means so I had no issues paying it on time for all this time. Now the market is down and the interest rates are about 2.5% ...
1
vote
1answer
177 views

Are “hard money loans” meant only for real estate?

I am interested to know whether Hard money loans are meant only for Real Estate or other fields too.
9
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10answers
13k views

Buying a multi-family home to rent part and live in the rest

I currently rent the top floor of a two-family house. Our landlord recently offered to sell the house to us, so I started looking at the cost of mortgages and property taxes in the area. It's my ...
8
votes
2answers
176 views

If Case-Shiller offers seasonally-adjusted indices, does that mean there's a good time to buy houses?

Saving up to buy a house in a few years, so right now I'm just watching the market to get a sense of the region. I noticed that the Case-Shiller index has seasonal adjustments, which make sense to me ...
22
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6answers
5k views

Would it make sense to buy a rental property as an LLC and not in my own name?

I'm considering buying a rental property. Would it make sense forming an LLC and purchasing it in the name of my company, rather than owning it directly? Considerations: pros: I don't want my name ...
2
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2answers
90 views

How does expiration of special zone property taxes affect property values?

I've been thinking about investing in local real estate lately, and there's an unusual (to me) practice here of funding some of the city provided infrastructure (water, roads and lighting I guess) by ...
3
votes
2answers
275 views

What is the process to refinance a home?

All, A family member is thinking about refinancing their home. The idea is to take advantage of low rates to get a lower interest rate loan, ideally with a longer term (current mortgage is 15yr I ...
0
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2answers
524 views

Diversified portfolio return calculation & comparison to return from real estate only?

Here's a sample portfolio. If we assume that he invested $100K in the beginning (2005), is it correct that if he sold his entire portfolio and the end of 2009, he would have received $121,394? ...
12
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2answers
1k views

Are Shiller real-estate futures and options catching on with investors?

Robert Shiller introduced an approach for reducing exposure to macro risks using real-estate derivatives. He created a successful housing price index with help from Karl Case, the S&P Case-Shiller ...
1
vote
2answers
539 views

Can I claim property tax & interest deduction if I pay the mortgage on my mother-in-law's house?

I currently pay mortgage (taxes, interest) on my mother-in-law's house. The house is under her name but we live in it. Can I use the interest and taxes as deductions?
4
votes
1answer
248 views

Models for evaluation of real estate as an investment?

Considered as an investment, real estate differs largely from other investments like equity. E.g. The difficulty in selling (Potential long time span in waiting/hunting for buyer), the much higher ...
2
votes
1answer
199 views

In a foreclosing Arizona home, can the bank or anyone hired by the bank access the home's interior premises without permission?

I am residing in an Arizona home that is being foreclosed upon, until the sale confirmation. Does the bank have any right to demand or assume rights to access the interior of my home while I am living ...
5
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2answers
110 views

What are the tax implications of improvements to a home that's not primary residence?

How are expenses related to fixing up an investment property treated? Are they deductible? What is a qualified expense? Are they deductible from income, or only used to offset capital gains? USA rules,...
3
votes
1answer
185 views

Tax implications on profit/loss from selling a home that's not your primary residence?

What is the tax treatment for profit/loss on the sale of a home that is not your primary residence? Does length of ownership matter? USA rules, please.
5
votes
1answer
193 views

How do secured loans get paid off when selling the asset?

I own a home in California (as tenants in common) with two siblings. My brother took out a loan using the house as collateral. When we sell the house, does the loan get repaid first, or do I get my 1/...
16
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4answers
1k views

On top of 20% down, are there any more rules of thumb for money needed to buy a house?

I know that 20% down on a house is a good rule to put as a down payment on a house. What I don't know, however, is how much more is typically a good idea to have beyond that. Since this will factor ...
4
votes
1answer
921 views

Can a mortgage broker issue a mortgage commitment letter?

I have applied for a mortgage from a mortgage broker and he recently gave me a loan commitment letter. But there is no mention of the lender or the underwriter. I have some doubts regarding this are ...
11
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9answers
1k views

Does it make sense to buy a house in my situation?

I've been in a pretty crappy financial situation. I've described my situation in detail in the past and I am greatful for all the great advice I have received here. Since asking that question 8 ...
5
votes
1answer
160 views

HAFA: Missed 14 Day Response Window — Am i SOL now?

I have started the short sale process with Bank of America and I am going through the federal program HAFA. I initiated the process but delayed submitting documentation longer than the mandated 14 ...
8
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3answers
674 views

Pros & cons of renting out personal condo during my work hours?

I work 9 - 5 and during the daytime on weekdays, my expensive condo is rather empty. What are some good ideas that I can rent the space out to some artist/yoga teacher during the day and make a ...
2
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4answers
551 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) ...
16
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9answers
1k views

Why can't house prices be out of tune with salaries

I have been arguing for years with my colleagues that having house prices go up 10% pr year and salaries only 3-4% means that we have less money, not more. They in turn say that its not a problem ...
12
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2answers
5k views

What are the risks in changing jobs during closing on a house?

I am working for CompanyX and my closing date on the house is on 18th August. I just now got a job offer from CompanyY and I have accepted it. My start date is August 29th. I dont want to jeopardize ...
4
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4answers
453 views

Is investing into real estate a good move for a risk-averse person at the moment

I am a risk-averse person and I usually keep most of my money in my bank account because I don't care for riskier options which might get me a little extra. During recent events and instabilities in ...
2
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4answers
23k views

How to locate a land survey for my house?

A prospective buyer of my house has requested a survey. I thought I could obtain a copy from the county courthouse. My agent told me our courthouse does not keep surveys. Questions: Who is the ...
9
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4answers
11k views

Why are monthly mortgage pre-payments applied to the back-end of the mortgage?

After having paid several years of 'extra' principal payment on my mortgage, I found that the extra monies were being applied the the 'back-end' of the mortgage instead of the 'front end'. The ...
13
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6answers
4k views

Buying a home with down payment from family as a “loan”

First time here, so please be gentle! I am thinking of buying a home, and have enough steady income to comfortably afford the monthly payment on the loan. However, I will need help with the down ...
7
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2answers
5k views

What if only one of two tenants signs a lease?

The title is a little misleading. Lease agreements tend to have multiple forms that need to be signed. In my case there was the actual lease agreement (with checkmarks next to many things that needed ...
6
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1answer
340 views

Rental Income and Expenses (Taxes)

My wife and I are thinking about purchasing a 2-unit building. We would live in one unit, and rent the other one out. The idea would be that down the road, we would convert the property to a single ...
44
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8answers
5k views

Should I buy a house with a friend?

To give some background, I currently live with a couple of friends in a 3 bedroom apartment. The living arrangement is good however I'm tired of not building equity. I've tossed the idea out for two ...