Jason Patterson
Delinquent taxes - homeowner just wants out
I've talked to a homeowner who inherited a home from her mother, hasn't paid taxes since 2008, and doesn't want anything to do with property - no profit from sale at all, just wants out. Per the tax lawyer the taxes a...
Sean Dougherty
How or "if" to negotiate junior liens in a short sale.
Trying to wrap my head around this process.I have a seller who has a home underwater. Selling via short sale. She is divorced an although husbands name is still in on title, she has court approved authority to sell ho...
Lucero Sanchez
We sold our primary residence to move to a better primary residence will I need to pay taxes on the profit?
In 2012 we purchased our primary residence for $60k it was a short sale and we bought it with out any loans, a year in a half later we found a larger home in a nicer area also a short sale for $157k, by that time o...
Dave S.
Seller in seller finance deal worries about capital gains
The situation is as such,
Seller owes house free and clear
Seller is offering me 100% seller financing
I'm going through an attorney to get the mortgage note and all paperwork together.
Will the seller be responsibl...
Jered Collins
Question to recaptured depreciation and capital gains tax
Perhaps this subject has been discussed in depth before but I want to reinvigorate the importance of understanding the effects of recaptured depreciation and capital gains tax on sale of multifamily properties. I've ...
Mindy Jensen
How Do Capital Gains Taxes Work on Seller Financing?
A friend is considering selling a duplex purchased at the bottom of the market. They're not interested in a 1031 Exchange, they want to sell and be done with investment properties.They are not opposed to seller financ...
C. J.
Is it OK to payoff a mortgage just prior to doing a 1031 exchange?
If a mortgage is paid off right before selling the home, can we exchange all the proceeds of the sale with no tax consequences?
For example, suppose a home is worth $400,000 with a mortgage of $160,000. If the mortg...
Sandy Uhlmann
First Trust Deed Headed towards Tax Lien Auction
I own a first trust deed that I paid very little for-under $15,000. It is a duplex renting out at $800/month and has a zillow value of just under $50,000 in Cleveland, OH. Recently in doing some research, I noticed ...
Shellie Johnson
Removing a property from Tax Deed Auction to give time to close?
I have an executed agreement to purchase a property which the property is also up for tax deed auction in a few days. Within the purchase agreement the seller has agreed to pay the taxes to remove the property from sa...
Steph Potter
Bidding on the tax sale - Baltimore City
Hi all. I am really trying to figure out how to put in a bid on the Baltimore City tax sale (coming up in May). They provide a format for calculating the bid but no real directions with it. I've got a sample of the bi...