Am in negotiations with a seller of a home with a below ground oil tank in New Jersey.The seller agrees to remove the tank prior to closing,while the heating system depends on the tank.Should I also insist on a new heating system as well or is removal sufficient?

i myself sold what i had in california prior to the bust and it was the best financial decision i ever will make.

If the tenant refuses to leave, then the Landlord might have to go to court to regain possession.No party can be forced to enter into a contract.Most landlords should contact their tenants 6 months prior to the expiration of the lease to see what the tenant's intent is.

Without a prior agreement with the seller, how would I be able to market their property to a potential TB, not knowing the terms?

You'd put down a non-refundable deposit (part of the eventual down payment) and then rent the house/unit until either the strike date on the contract or the person purchases the property prior to the strike date.Once the date comes, you would enter a PA (fully execute the lease agreement) and sell the house.

We have an accountant helping with our taxes this first year so that we get all of the depreciation, etc. set up properly going forward.We bought the home in 1997 and since that original purchase have made a dozen or so improvements (prior to moving and making it available for rent).

The prior owners purchased it as a rental property a couple years ago for $60,000 and actually had it successfully rented out, but they live about 2 hours away and were unable to manage it successfully resulting in it being trashed.

You might as well recognize that a buyer will sooner of later learn of any prior death.

For investment property, the 1031 exchange still exists, but if you read through the article, it doesn't apply to your situation.The $250K exclusion is for homes you live in, for 2 of 5 years prior to sale.

Of course, if you have prior relationships with someone whose judgment and ability you trust is actually local to where you are looking, then you have a bigger advantage.The fact of being thousands of miles away from a property you own was something I could not overcome, at least in my mind.