Any cash or other non-like-kind property received during the exchange will be subject to capital gains tax.To accurately determine the cost of the replacement property for tax purposes, it is important not to make any assumptions.

Some ideas would be to: Take a look at a market report for Pittsburgh and add a few percentage points to be conservative, Call around to multifamily brokers or property managers in the area and ask their vacancy rate, asks banks what their vacancy assumption is for underwriting, etc...

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (always verify each area for yourself!)

My plan is to contact them in effort to get them to sell the property based on the assumption that they are out of state or possibly out of country and the property looks like it is in a fixable condition. 

I assumed there was a moratorium on permits like Palm Springs, but that might be a bad assumption.

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Our OPINION for the Metro Detroit market (always verify each area for yourself!)

"For purposes of enforcing the due-on-sale (or due-on-transfer) provision, if any, in the security instrument, theservicer must consider all of the following situations to be a transfer of ownership:- the purchase of a property “subject to” the mortgage loan,- the assumption of the mortgage loan debt by the property purchaser,- any exchange of possession of property under a land sales contract or any other land trust device, and- in cases in which an inter vivos revocable trust is the borrower, any transfer of a beneficial interest in thetrust."

I re- read through all my closing documents where she signed off on the “assumption of existing mortgage agreement” which spells out that the loan stays  in her name and the affects of it.

YES, assumption not sub toCredit and DTI is fineissue will be I own a primary residence also though that is 80 miles away from this house and this new house is 5-10 minutes away from my work, so i am  not sure if i can qualify b/c fo 100 mile rule 

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (always verify each area for yourself!)