Michelle S.
Seller Changes the Closing Attorney - Should I be concerned?
Hi BP Family, I am in the middle of closing a deal. The seller chose the closing attorney originally. Now, he wants to change from the original one to a new one. The reason was given as follows:" when the seller bough...
Account Closed
extended tax credit.......how does the program work??
If your income doesn't qualify you for 2009, and you are afirst time home buyer closing your home in early 2010, can you amend your 2008 tax return to receive the tax credit benefit??
any help - thnaks!!
Guevara M.
Should I be taking a depreciation on my rental?
I bought a rental (Town Home) back in 2004 & have been taking a depreciation so that I could get a bigger tax return. The CPA that did my taxes this year advised me that I shouldn't be taking a depreciation if I ...
Rachel Mazzanti
Holdings LLC made after multiple LLCs
Hello!Just trying to understand something.So we have multiple LLCs for operating things such as consulting business, accounting business, and others that were created before a Holdings LLC was created. These are all s...
Jeff Mitchell
Deprecation never taken and can't claim rental losses
Hello,
I am asking this question for a co-worker. He bought a rental property 15 years ago and has never taken depreciation on that property. Not clear on the reason for not taking it, I think he just had a bad accou...
Hament Raju Mahajan
Adding a new property as additional collateral to an existing loan.
I have an existing Note (Note 1) secured by a deed of trust in California on a SFR (property 1).The borrower has agreed to bring in additional property (Property 2)as a collateral after Note 1 is completed as a c...
Jason V.
Should I allow buyers to amend name to foreign LLP? WIIFM?!
Buyer (2 local individuals) & I have a purchase agreement. Home inspection finished last week, presumably looking acceptable to buyer(s). Termite inspection passed.BUT... the buyer's agent has now sent an amendm...
Matthew G.
Assigned The Contract...Now My Buyer Is Asking For A Lower Price
I have my first deal under contract. The buyer that I assigned the contract to had an inspection done and is asking for a lower purchase price. My questions are:1. How would I lower the price? Just an amendment to the...
Nick Gagel
Amending rent due from 12th to 1st of month in middle of contract
I currently have my rent due on the 12th of each month. Mortgage is due on the first. I now know it is better to have that date be the 1st of each month. 2- What is the best way to go about doing this without losing o...
Stephen N.
Questions about utilizing the $8k first time homebuyer credit
1. Is the $8k credit available for bond for deed transactions
2. Is it possible for me as a seller to set it up to where the $8k credit is used for down payment? I'm thinking of requiring Buyer to amend 2008 retur...