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2 June 2024 | 18 replies
Biggest issue is the tax, its much higher than anticipated 50k as w depreciation recapture is 81k after i paid 5800 transfer tax at closing.. so thats a BIG problem and i want to make sure i pay minimum on that - use 10-20k upgrades i put in prior to selling, max out LLC this year to write all expenses off from it etc. - Any advice on how to offset that 80k tax?
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1 June 2024 | 2 replies
Ranching is not foreign to me, but as an investment property I wouldn't be operating it.The seller is only willing to go as high as a three year balloon.It is on a well and has a septic system, both of which I would pay to have inspected prior to purchasing.
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1 June 2024 | 10 replies
You must have lived in the property for 2 out of the 5 years immediately prior to sale3.
1 June 2024 | 4 replies
If the lease is silent on the issue, you should give reasonable notice (normally 30-60 days prior to end of lease term).
1 June 2024 | 4 replies
Quote from @Sheila Nyandebvu: I believe the law requires them to provide a settlement statement 72 hours prior to closing, and you should definitely have one during closing.Do you have any documentation showing what rate they quoted when you first applied?
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29 May 2024 | 4 replies
I'm debating to just giving the buyer a discount or money back so that he can address these repairs after closing but I just thought if I did these repairs prior to closing, if that would benefit me tax wise.If I put in a new roof and add a new sewer pipe to the property would that have any tax advantages even though I am selling the property in the same year?
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1 June 2024 | 4 replies
This will make it necessary for Buyer’s agents to provide potential buyers with that contract for payment of their services prior to working with them.
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31 May 2024 | 7 replies
I wish I did more research of the area prior to purchase.
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31 May 2024 | 2 replies
You can talk with someone at the VA regarding this, but you will likely need to ask for a manager a few times to get the answer.I havent assumed any VA loans so thats bit outside my knowledge set, but they should be able to answer your question fully.Did the prior owner live there for at least 1 year?
30 May 2024 | 1 reply
She's finishing mfa, relocating and no job yet, but solid prior work history.