Have real estate questions? Here, you’ll find helpful articles and other resources that cover issues related to real estate, buying, selling, financing, refinancing, credit and debt, insurance, second homes, vacation homes, real estate investment, new construction, and renovation.
How To Find A Tenant
A buyer has made her first purchase of investment property and is wondering how to go about renting it. The most important thing you can do to make investment property successful is to find good quality tenants. You'll also want to follow any local rules or regulations with your investment property.
Last Ditch Efforts: What To Do If Your House STILL Hasn’t Sold
If your home isn't selling, there may be a problem with either its condition or price. But sometimes buyers need an extra nudge. There are things sellers can do that will effectively lower the net amount you take away from the deal, but could help get your home sold. If you're having trouble selling, and haven't received an offer, perhaps these suggestions will help.
Buying A Second Home With 1031 Exchange
A 1031 exchange cannot be used to purchase a personal residence. A 1031 exchange is used when selling investment property by replacing with another investment property that costs at least as much as the sold property. A 1031 exchange could be used to purchase an investment home that is rented out for a few years before converting it to a personal residence.
1031 Exchange: Defer Capital Gains Tax On Investment Property
The only way to defer paying capital gains taxes is to use the 1031 exchange and purchase new investment property using the proceeds of the sale of the old property. You cannot avoid paying taxes on your profits, unless you are using a 1031 tax free exchange. A tax-free exchange would allow you to swap two investment properties for another (or several others) that costs at least as much as the sales price of the two together.
Implications Of Co-Signing Loan
Co-signing a mortgage loan my bring interest rates down for the borrower, but being a co-signer isn't without risks. Co-signing on a mortgage loan but not being on the title of the property is more of a risk than a benefit for the co-signer.
Ilyce Glink on WSB Radio – November 12, 2006
On this week's show, Ilyce talks about how sellers and buyers should hire experienced real estate agents -- especially during a market slowdown. Not everyone agreed and one agent wanted some advice on how to get her foot in the door.
Short Sale Results In Large Tax Bill
Selling your home may seem like the solution when you're underwater on your debt, but not every lender will do a short sale. A short sale will also result in the IRS considering the amount forgiven by the lender as phantom income -- meaning you could face a huge tax bill the following year for the difference in the short sale.
Property Tax On Home In Foreclosure
When a bank forecloses on a property the property owner remains responsible for the property taxes. Banks set up tax escrow accounts to pay property taxes, but when home owners fail to make mortgage payments the escrow money may be used to make mortgage payments. If there's no escrow account, the home owner has direct responsibility for paying property taxes.
Anti-Deficiency Law May Protect Homeowner
While anti-deficiency laws will protect a homeowner in some cases, the vast majority of Americans have recently obtained two mortgage loans in the purchase of homes, often referred to as a "piggy-back mortgage." If the first mortgage loan is foreclosed and the amount of the sale is enough to only pay off the first lender, the second lender will be entitled to sue the owner for the value of its loan. Many anti-deficiency laws won't protect the homeowner for amount owed on the second mortgage.
Name Forged On Deed
A homeowner put her father in charge of her property and finances while she was incarcerated. During that time, the title to her home was changed to the father. When her dad "acquired" the property, he could only have obtained title in one of three ways and none of them would have been legal. Ilyce explains how titles are transferred and concludes that someone must have forged her name