Questions tagged [real-estate]

A tag for questions on real estate or property.

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8
votes
1answer
533 views

How can I trade my 20% inheritance equity to a sibling for real property in their name?

My father passed away in July 2014. His residence was willed equally to his 5 children. One of my siblings wants to buy the property from the rest of us but needs a bigger equity share to get a loan. ...
7
votes
2answers
7k views

Split buying a house 3 ways. How do I approach this?

A couple of unrelated friends and I are interested in buying a condo and splitting it three ways. We will be using it interchangeably as a rental property as well as living in it ourselves sometimes. ...
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 ...
7
votes
5answers
2k views

Making an offer on a property - go in at market price?

My roommate and I have talked about purchasing a home together and with interest rates being as low as they are, and the fact that we'd be able to get pre-approved for a good amount we decided to give ...
7
votes
4answers
855 views

What are my investment options in real estate?

In a nutshell, I'm 21 and I'll be starting a job soon which will give me a fair amount of spare income, which I would like to look into investing. What are my options here? I'm considering investing ...
7
votes
6answers
682 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 ...
7
votes
5answers
2k views

Why do I need an attorney to buy a house?

I thought my real estate agent would cover the whole thing. How does an attorney get involved? Why do I need to hire one on my side? I ask this because I have read about it in first-time buyer help ...
7
votes
3answers
6k views

What happens if I don't pay a utility bill on a house I've already sold?

I recently sold a property I used to own, and was told that the new owner had transferred all the utilities. I followed up on all but one (which were transferred), however it seems that the water ...
7
votes
2answers
342 views

What is a timeshare?

What is a timeshare and why might I want one? Are there any hidden costs to timeshares?
7
votes
3answers
327 views

I have an “excellent” credit rating. Do I need to get a preapproval mortgage letter?

I'm in the infancy of buying a residential property. I have a credit rating of EXCELLENT. Do I need to get a preapproval mortgage letter? I thought that getting preapproved would expedite the ...
7
votes
2answers
374 views

What kind of credit rating hit can I expect if I short sell my house?

Like many others, my house has fallen in price so much that I now owe the bank over much more than I can sell it for between the first and second mortgage. I know that in my state (and many others) I ...
7
votes
3answers
158 views

How uniform is the decline in US property prices?

Obviously because of the global financial crisis, I've been hearing a lot about the US property market crash. I have a feeling something similar is waiting to happen in Australia so I would like to do ...
7
votes
3answers
2k views

What are the advantages and disadvantages of leasing out a property or part of a property (such as a basement apartment)?

What are the advantages and disadvantages of leasing out a property or part of a property (such as a basement apartment)?
7
votes
2answers
2k views

I am thinking of buying a property to split into 2. How do I determine the costs basis on the existing house?

This is a property on over 2 acres. I'd like to buy it, split the property and rent out the existing house. Then build myself a new house on the other portion of the property. How would I determine ...
7
votes
2answers
340 views

Is the seller of a property in the UK in a position to dictate what the buyer does with it?

I know very little about the housing market or mortgages (it's just not taught in school in the UK, whereas oxbow lakes and pathetic fallacy are), but within a year I should be able to get my foot on ...
7
votes
3answers
228 views

How to find a reputable company to help sell a timeshare?

My family bought a timeshare in Vegas. It was basically a scam. There are tons of companies offering to help sell it, but since this area seems crowded with scammers, I'm hesitant to pick any of them. ...
7
votes
1answer
959 views

Was I a victim of illegal bait and switch mortgage fraud?

My wife and I recently purchased a home and I think we were victims of bait and switch mortgage fraud and I wanted to find out of what happened to us was illegal, or just very strange. We were first ...
7
votes
1answer
346 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 ...
7
votes
1answer
1k views

Are commissions paid to realtors for finding tenants for my rental property tax deductable as a rental expense?

I used a realtor to find a tenant for my rental home. I paid her a commission of the amount equal to the first months rent. Is this what turbotax means by Commission Expenses "Commissions paid to ...
7
votes
1answer
336 views

Getting on the property ladder: mortage, downpayment, fees? [UK]

Once I've got my finances straight I'd like to think about getting my own place, but what sort of money am I looking at to have under my belt before I can begin thinking? Is it right that the UK ...
7
votes
1answer
251 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 ...
6
votes
4answers
2k views

Is there any truth to the saying '99% of the world's millionaires have become rich by doing real estate'?

What is the truth behind the saying '99% of the world's millionaires have become rich by doing real estate'? Do you know the original source of the statement?
6
votes
6answers
1k views

What part of buying a house would make my net worth go down?

I've thinking about buying a house, and how that would affect my net worth. It seems to me that if out of pocket + debt = value then the transaction shouldn't affect my net worth in the short term. ...
6
votes
6answers
1k views

Is being a landlord a good idea? Is there a lot of risk?

A few days ago I asked a way to generate a passive income. It seems the best I can expect is about 2k from a 50k invest at a low risk. However, if I can buy a house for 150k and rent it out, I can ...
6
votes
4answers
1k views

Buying a mortgaged house

If someone owns a house that is not paid off (still mortgaged), can someone buy it by taking another mortgage? What kind of offer would be most sensible? I assume that in this case the current owner ...
6
votes
3answers
5k views

What's my risk of buying a house for a friend and sell back to him?

I'm in a situation and need some advice. A friend of mine is in the middle of Chapter 11. He asked me to help to buy his house and in a few months sell back to him, so he can force the bank to lower ...
6
votes
2answers
2k views

Will there be more tax deductions if I put the house completely under my name, versus doing a joint ownership?

I currently live with my mother, and the house is under her name. However, I pay for the property tax (house paid off). In regards to property tax reductions. If I will be continuously paying the ...
6
votes
4answers
5k views

Buying a home without a Real Estate Agent - Who should I get to do the paperwork?

I'm considering buying a home from a friend without the aid of a real estate agent in the hopes of saving everyone the unnecessary 6% commission (since the property didn't need to be marketed). ...
6
votes
1answer
792 views

What does “24Hrs Is A Must” Mean on a Real Estate Listing?

I recently read the following real estate listing: Beautiful Improved Home Comes Finished With Basement Apartment And Separate Entrance. Upgrades Include Granite, New Shutters, And Parquet Floor ...
6
votes
3answers
20k views

How do I calculate the (likely) property taxes on a new home in a new area?

I live in Texas where there is no personal state income tax, but there is a significant tax on real estate. I am considering buying a new home, built to my specifications (ehh, to an extent...) in ...
6
votes
2answers
317 views

Why is selling a house in one day regarded so highly?

As a recent first time home buyer, I now get a lot of mail from Realtors and agencies. I've noticed that often times advertisements will boast that a house has sold in one day. In my mind, if a ...
6
votes
2answers
376 views

How much should I trust seller's expense and revenue data in evaluating multifamily real estate investment?

I am learning about investing in multifamily real estate (apartments). I understand some of the key figures for evaluating multifamily properties, such as CAP rate and cash-on-cash returns. All of ...
6
votes
4answers
316 views

Products for withdrawing from a home's equity?

I am a current homeowner with a property that has no mortgage (everything has been paid off). A family member is in need of some cash to consolidate some credit card debt and I would like to help them ...
6
votes
2answers
9k views

Where can I find filings of HUD-1 statements?

My wife bought a house in San Francisco about 15 years ago and sold it recently. For our tax (capital gains) we were told that we need to obtain the old HUD-1 form from when the house was bought. ...
6
votes
1answer
670 views

how do capital gains work if the property that you purchased was modified since it's purchase?

Let's say you purchase 10 acres of land 30 years ago for $10,000 and that 10 years ago the city declared eminent domain on a portion of the land and built a road through it. Now you own two tracts of ...
6
votes
4answers
31k views

What is the standard real estate commission to sell a million dollar home?

I want to list my condominium for US $1.3 million. How can I decide on a fair real estate commission?
6
votes
5answers
1k views

Real Estate blind auction - who benefits?

The housing market in Portland, OR is extremely hot. So hot that realtors are now using blind auctions. Listings say Offers will be reviewed on [date] at [time] Prospective buyers are expected ...
6
votes
3answers
2k views

Settling house with husband during divorce. Which of these two options makes the most sense?

This is the scenario: Our house is worth about $250,000 (we think). We owe about $200,000, so we have $50,000 equity. We are divorcing amicably and both want a solution that is fair and makes sense. ...
6
votes
2answers
28k views

Tax considerations for selling a property below appraised value to family?

I own a property that recently appraised for $350,000 in the state of Maryland that I purchased for $300,000 7 years ago. I wish to sell this property for a value of $240,000. Here are my questions: ...
6
votes
2answers
427 views

Can buying REIT's be compared to investing in Real Estate?

I am currently renting an apartment, and investing a portion of my income in stocks and bonds (90/10). Part of my stock allocation contains REIT's. I have been saving to purchase a home (I have ...
6
votes
3answers
696 views

What are the transactional costs when buying and selling a house?

I am trying to breakdown all transactional costs related to buying and selling a house as well as their numerical values. For instance, the agents get around 3% in commission each, the inspection ...
6
votes
2answers
495 views

Keeping our current home (second property) as a rental. Will it interfere with purchasing a third home?

Prior to moving to our current location, my wife and I lived in a one bedroom condo. We continue to own the condo, owing about $80k on it. We get enough rental income that we make a profit after condo ...
6
votes
1answer
31k 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 ...
6
votes
2answers
651 views

What are the positives and negatives of buying a home without a real estate agent?

Note, the question isn't searching for a home, but buying a home. If you do the leg work on your own, identify what you're looking for and find it, then what are the downsides of not making the ...
6
votes
1answer
840 views

Should I sell the home in 2014 or continue to rent it out?

The home was bought in Dec. 2010, and we lived there from Dec. 2010 to Jan. 2013. It's been a rental property since Feb. 2013, when we moved into a rental home to be closer to work (about 30 miles ...
6
votes
2answers
291 views

Leasehold Pub— What happens at the end of the lease term?

Was hoping someone might explain how leaseholds come to an end, I’ve been googling for ages but seem no closer to finding an answer. Example: Leasehold 50,000 Annual rent 20,000 Free of tie lease 10 ...
6
votes
1answer
295 views

UK Stamp Duty, Buying with a partner who owns a flat

I own a house on the south coast. My partner owns a flat in London with her sister. Her sister lives in the flat and the other room is rented out. My partner has lived with me for 18 months and is ...
6
votes
1answer
211 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 ...
6
votes
2answers
333 views

How can one offset exposure created by real-estate purchase?

Is there any viable way to offset exposure introduced by buying a real-estate (house/land)? By "way to offset" I mean financial instruments (like derivatives) that you can buy to decrease the risk of ...
6
votes
2answers
172 views

My wife and I are selling a house worth $230k-$260k. Its a rental. Should we use an agent, limited service listing agent, or FSBO?

Reasonable expected sale price $245,000. Traditional Agent: Fee = 6% = $14,700. High energy agent who is very familiar with the neighborhood and market Limited service agent (Duffy Realty type): Fee ...