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Questions tagged [real-estate]

A tag for questions on real estate or property.

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votes
1answer
1k views

Should I sell investment property to pay off student loan debt and variable rate home equity line of credit?

I purchased a home as a primary residence 11 years ago for $210,000. It is now worth $475,000. The mortgage balance is $85k at 3.75% fixed for 30 years (but I am 11 years in). Three months ago, I ...
0
votes
2answers
1k views

What does “land” and “additions” mean here?

Picture source This is a screenshot of a condo for sale (see the link for more information). For the year 2017, it is listed that the "tax" is $2598 and "land" is $8750 and "additions" are $28455. I ...
8
votes
1answer
134 views

Capital gains when a spouse passes away

I live in California. My husband and I had a trust and when he passed away in October 2017 his half of our condo went into an exemption trust for his two children from a previous marriage. We bought ...
1
vote
1answer
80 views

House under-appraised (tax appraisal)

I know someone whose house was massively under-appraised (tax appraisal) after it was constructed on their lot due to some sort of glitch or misunderstanding. It turns out the appraisal was much ...
2
votes
1answer
194 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
1answer
110 views

Is the buyer's agent fee assessed on a real estate sale if there is no buyer's agent? [duplicate]

Various sources I have read state that the typical real estate agent fee is 6% of the sale price of the home and that this is divided into 3% for the seller's agent and 3% for the buyer's agent. What ...
1
vote
0answers
103 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
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3answers
227 views

Saving for a New Home

My wife and I are saving for a new home in NYC. The only debt we have is a student loan (about $26k left at 3%). We have $47k in the bank and our Household Income (HHI) is about $300k. We owe just ...
3
votes
1answer
112 views

Whom do you tell when you gift a portion of a property in the UK?

Suppose Alice and Bob both own 50% of a rental property each, as tenants in common. Alice gifts 10% to Bob so they now own 40% and 60%. Do Alice or Bob need to declare this gift to any government body?...
-1
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4answers
152 views

Real estate repair: Out of pocket or on credit?

You often hear the advice, that you should eliminate all debt, before starting to invest. However, in the following scenario it seems the opposite to be the right decision: In order to be rented out,...
3
votes
1answer
200 views

New mortgage lender is requiring I buy condo owners insurance

I live in California, I have applied to refinance my condo, which I have owned for 30 years. The new lender is requiring that in addition to the HOA (Homeowners' Association) insurance policy on the ...
9
votes
2answers
1k views

Savings advice for a 16 year old with £20,000 - convicing my parents that investing this into a property is a bad idea

My younger brother runs a small yet lucrative business in his free time. He has accumulated around £20k in a very short time. My mother wants him to put this money into buying a property, i.e: a ...
0
votes
0answers
67 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 ...
26
votes
16answers
10k views

How to best invest 90,000 EUR with zero knowledge in investing?

I have 90,000 EUR and difficulty figuring out what to do with it. This money is in a savings account with an interest rate of only 0.05%. Here in Netherlands, I pay around 600 EUR each year on this ...
1
vote
1answer
113 views

GST goof up. Can I ask for interest?

I had booked a 2BHK apartment with a well known builder. As per the agreement and payment structure I paid all the installments but the last one, which I was supposed to pay at the time of possession. ...
1
vote
1answer
256 views

Is it normal to increase rent by 5% per year?

We are subleasing a part of commercial real estate (medical office in Brooklyn, NY), and now that 1 year is over, the landlord want to increase the rent by 5%. They claim that their landlord increases ...
2
votes
2answers
149 views

Pros and cons of these 2 methods of property financing

Suppose a person wants to buy a property. There are 2 methods of financing that come to mind; 1) Get a mortgage and borrow up to 80% of property value to buy the property. This is so that not too ...
3
votes
1answer
788 views

Do I have to pay Virginia Tax on capital gains from real estate sale out of state?

I sold a residential building lot in Florida in 2017. I am a resident of VA. Do I have to report those gains to VA for taxes? I did for my federal and paid the tax.
2
votes
2answers
181 views

In which state do you pay taxes for money made on house sale?

I live in NJ but work in NY, so I file NY and NJ state returns. I also sold a house in MD. Since that house was rented for a year when I did not live there, I need to pay taxes on a portion of the ...
2
votes
0answers
140 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?
3
votes
3answers
275 views

Value of mother-in-law cottage for purposes of will

Let's say there's the following scenario. A couple who are homeowners and parents of three adult children build a small, one-story detached mother-in-law cottage (500 sq. ft.) with kitchen and ...
14
votes
2answers
1k views

Are REITs more correlated with the stock market or the real estate market?

Suppose a person has a sizable portion of his networth in stocks. He wants to diversify his wealth into the real estate asset class. For the sake of correct diversification, it will be nice to know ...
1
vote
1answer
57 views

At what exact point is a deposit check typically written for a home purchase offer?

What is the timing of providing a deposit check for a home purchase offer? As I understand there are 3 phases: parties verbally agree on a deal buyer signs a preliminary offer agreement and provides ...
14
votes
6answers
3k views

Should I max or min my affordability on a new home?

Situation: Around 1,000 month disposable between 2 of us. Current mortage outstanding balance is 95k on a 120k property, saving almost entirety of disposable income. Now the situation has arisen ...
2
votes
2answers
304 views

Save up more money than necessary for house purchase or borrow more?

I live with my parents and thus have very little expenses and believe I am saving quite well, even have some money in shares. Have a stable job (albeit relatively low paying as I am a junior, just out ...
3
votes
3answers
380 views

What mortgage term to go for (short term)? [duplicate]

I current have a mortgage with less than 14 years on the term with an outstanding balance of approx 100k. I will be moving house in the next few months, but the house I move to (purchase) will only ...
2
votes
5answers
609 views

How important is the “1% rule” for income properties?

The 1% Rule - The monthly rent earned on an income property should meet or exceed 1% of the total buying price of the property. How accurate/important is this rule when it comes to personally ...
3
votes
2answers
155 views

How does cost of construction affect capital gains on house?

If I buy land and build a house on the land, can the cost of construction be subtracted from the capital gain when selling the house? For example, if I buy land for $600,000 and then build a house on ...
-2
votes
2answers
147 views

Is it really a good idea to put money in 401(k)? [duplicate]

Assuming your company doesn't have 401(k) match, is it really a good idea to put money in 401(k)? Everyone says it's a good idea but I don't think so. Why not save your money and buy a house/...
0
votes
2answers
596 views

Is there a standard way to calculate property joint ownership percentage when one party has put in zero deposit? [duplicate]

Is there a standard formula/convention to calculate the % of ownership on a property based on the following situation I am buying property together with my partner and her mother. Lets assume for now ...
1
vote
3answers
526 views

Tax implications of selling property and giving money to children

My friend owns a property in London with no mortgage and wishes to sell it and share the proceeds amongst her three adult children equally. This property is not her main residence. The estimated ...
2
votes
1answer
58 views

How are trades in kind recorded on property deeds?

I think that when property is sold, the price is recorded on the deed, or in the registered record. However, what if property is sold in part or in full in kind? For example, what if somebody sells ...
1
vote
3answers
156 views

Which asset classes have a “built-in” long-term growth logic?

My understanding is that stock markets are expected to generate returns above inflation in the long run because companies are paying out dividends and because investors demand compensation for ...
12
votes
1answer
2k views

What should I be concerned with in buying a house for less than the market value? [duplicate]

I've grown up in my grandparents house my entire life. They lived two miles away my entire life. Sleep overs, dinners, barbecues, etc. It's been the plan since I was a kid to buy the house when I got ...
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 ...
3
votes
2answers
100 views

Best ways to defer investment income to qualify for low-income subsidies?

Currently, my only income is from dividends and interest which is about $70k/yr. If I can lower my income, I can pay lower taxes each year and I may qualify for some low-income government subsidies ...
1
vote
2answers
124 views

Can I Find A Landlord Directly Through The Apartment Building? [UK]

So I'm trying to find a new flat and all I can see online are advertisements from agencies who like to charge £400 for the 'Application' whatever that means, plus another £300 in ambiguous fees and ...
0
votes
1answer
134 views

How to convert land zoned as Agricultural to Residential in Massachusetts [closed]

How can I convert a multi acre land, termed currently as "Zone Usage: Single Family/Agriculture" in central Massachusetts, into smaller residential pieces. What all are the procedures, dues, fees, ...
1
vote
0answers
81 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 ...
6
votes
1answer
205 views

Friend is leaving US without ending the lease? What the apartment manager can do?

Friend is leaving US due to visa problem. She has very good credit history. She is planning to pay all the credit card and utility bills. The only thing she is not willing to pay is lease breaking ...
8
votes
3answers
427 views

Where in the US do you need a lawyer to buy a house?

I've been told that in many locations in the US, you must retain an attorney to represent you in purchase of a single family residence. Or, alternately, perhaps you lose a great deal of your rights ...
4
votes
1answer
153 views

Why is a REIT (Real estate investment trust) able to grow and appreciate, given that it is not able to retain its earnings? [duplicate]

REITs have to distribute out most of their earnings to shareholders. This deprives REITs the needed cash to reinvest into their business to grow organically. Wouldn't this stunt REITs' business growth ...
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 ...
0
votes
1answer
2k views

How to write an earnest money check for a written real estate offer?

If I make a written offer complete with terms to buy a piece of real estate, there is the problem of how to draft the earnest money deposit. In previous purchases of real estate I have made, what ...
2
votes
1answer
202 views

sell flat or rent it out as student

I started to study away from home, at the moment I live in my own flat and get everyday by car or train to the university. Its very time consuming as i need about 4 hours everyday only to get there ...
3
votes
1answer
105 views

Withdrawing income from a self-managed super fund holding a rental property?

Do I need to sell my rental property (fully paid for) in my Super fund to start withdrawing from the funds on a monthly basis to live on at 60 years of age, or can I keep renting it and just access ...
0
votes
1answer
207 views

Sell house at a loss or wait for a buyer at a better price?

I've been trying to sell my house for a while and I'm actually renting elsewhere now, closer to my job, during the week. The house is priced where the real estate agent recommended and we have ...
11
votes
3answers
5k views

Do I have to pay rent to my father when the home is owned by a family LLC I partially own? [closed]

I am inquiring about an LLC-owned property that I am renting. I, along with my three brothers, are owners of the LLC. My parents bought the house originally but then the LLC bought the property and ...
0
votes
1answer
261 views

Pennsylvania real estate - buyer agency contract

I'm buying a home and chosen a real estate agent and am now reviewing the buyer agency contract. One thing in particular about this contract has stood out to me. The buyer's commission is 3.5% stated ...
2
votes
1answer
143 views

UK House buying deposit from sale of current property?

We've just started overpaying on our mortgage so it costs us less in the long run due to interest. However at some point in the semi-near future, we'd like to move house. With this in mind, should we ...