Sometimes it can be difficult to calculate the taxes owed on sold property, but capital gains is one thing the seller should consider. If you're not sure about how to calculate the taxes on sold property and whether capital gains applies to you, the best thing to do is contact your CPA to calculate the taxes. Capital gains taxes on sold property only applies if you've lived on the property as your primary residence for 2 years.
What is the law on seller disclosure, if a homeowner discovers soil erosion problems with the landscaping after buying the home? A professional landscaper tells the new homeowner that the old home owner never fixed the initial problem of soil erosion with the landscaping, but never told the new owners the problem under seller disclosure. The best advice for the new home owner is to go to a knowledgeable real estate attorney to find out what the seller's obligation was under seller disclosure and whether there is a legal case against him.
If you're looking to turn your current home into a rental property and buy a new home, you may want to refinance your current home to get the cash you need. If you refinance your current home before using it as rental property, you may be able to pull cash out without paying the investor premium. The best thing to do is ask your lender what your different mortgage options are for refinancing your home and turning it into rental property.
The best way to get started in the real estate investing business is to learn the business. You don't need your real estate salesperson's license to get started in real estate investing, but it will give you the basic knowledge you need. Working part-time in a real estate business after getting your license is another good way to get started in real estate investing.
Before hiring a contractor to do any home remodeling or home renovation, you need to get competitive bids from several contractors. A contractor will take all the information you give him about your house, what you want done and any other information from the architect or interior designer, and put together a bid of the estimated cost for your job. Watch this Expert Real Estate Tips video for more help on hiring a contractor for home renovation.
The Department of Housing and Urban Development (HUD) released this Q&A about the Homeowner Affordability and Stability Plan, which was announced ...
If you want to know why Obama picked Arizona to annouce the Homeowner Affordability and Stability Plan, take a look at these statistics that were comp...
There has been a lot of grumbling (particularly on CNBC this morning when Rick Santelli took a poll in the pit as to who would want to pay for someone...
Here's what we received in media briefing papers from the White House: Homeowner Affordability and Stability Plan Executive Summary The deep contrac...
A new paint job is an easy, inexpensive way to give your house a facelift before placing it on the market. A fresh coat of paint in a room like a bathroom can help sell your home faster. Whether you do it yourself, or hire a handyman, a paint job will be quick, and give you a lot of value for your money. Watch this and our other Expert Real Estate Tips videos for more DIY and handyman project ideas.
