 Real estate taxes were not calculated accurately. What do recommend? |
| My daughter just moved into a brand new house in a large development in July and it was appraised by a local assessor for $$$$. When she received the second half property tax bill it showed that she ... |
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 I am trying to sell my house on my own...? |
| People have been stopping by with there realtor...then they ask if I am willing to work with their reator. So does that mean I have to apy the realtor a finders fee or something and if so, what % is ... |
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 Age to buy a house?!? |
| I'm 19, I've had an apartment for a year. Is there any possible way I could buy a house? Renting is such a waste of money! I live in Missouri by the way, so if anyone knows of some real ... |
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 I pd 1200 security deposit, left the house in good shape and now landlord is not paying me all of it.need help |
| never did a walk thru when we moved in, but she wanted one when we left her daugghter did it bc landlady lives in another state. told me today they found things wrong that were wrong b4 we moved in ... |
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 What makes a home unlivable? |
is it the family, the house or something else?
please explain.
how do i get out of the unlivable home?
Additional Details
i dont mean that.....
i mean more ... |
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 Adults: How old were you when you moved out of your parents' house? |
Just curious. I'm saving up for an apartment.
If you could give any tips for living on your own that would be awesome too. Thanx!... |
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| Can your landlord sell the house and make you move out before the lease is up?? |
| My landlord took the house off of the market when I started leasing the house. I signed a 1 year lease agreement. Now out of nowhere he came to me and says, "I have a lady that wants to buy ... |
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 Home buying process? |
My hubby and i plan on buying our first house rather soon. What is process like? Any tips, suggestions on how we should go about it?
We no dont have great credit, but its not awful either.... |
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 Help me to sell my house in needles california? dont say get a realtor. it hasnt worked dont say ebay,it .... |
| hasnt worked. dont say anything except the right answer... the house is the lowest priced on the market. it s the best deal there . ive lowered the price, twice. its livable. its zoned commercial. it ... |
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 The more you pay off your mortgage do the payments get smaller as you get further into it? |
Additional Details
For example you have a payment of $1100/month. Will this go down the more you pay?... |
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 Why do most people who rent in my area say "NO PETS"? |
| I have called and looked at so many places that rent in my area, but the clincher to deciding if I want to live there is their no pet policy. Why is it if you have an outside dog, and sometimes ... |
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 Is it POSSIBLE for my house to be TOO clean for potential home buyers? |
| So we JUST put our house on the market (yesterday afternoon). And today we got our 1st viewer. I am a VERY clean person. Pantry items are faced forward so labels are visible, shoes are nicely ... |
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 How do I recover $290,000 I've been scammed out of? |
| I recently withdrew my life saving of $290,000 to buy an invisible mansion. The realitor told me to light fire my briefcase of cash, close my eyes, and my house would suddenly appear. 2 weeks later I ... |
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| We have a 2 year lease and landlord is short selling home and said that we might have to move? |
| We just signed a 2 year lease on a rental home; we make the payments to a property management company; we recieved an email today from the actual landlord stating that he is going to try a short sale ... |
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 I want to sell my house to my daughter and me. or have my daughter buy into the existing mortgage? |
| i want to sell my house to my daughter and me. or have my daughter buy into the existing mortgage. is this ... |
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 I am remarried and my name is not on the deed of my husbands house.? |
| I am wondering since my name is not on the deed, if he (god forbid) passed away, what would happen with the house? There is a mortgage on the house too.... |
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 Maximum mortgage? |
Daer all
My gross annual salry is 30,000 GBP and I am planing to apply for mortgage, I can put 10% deposit as well and I dont have any loan or credit card commitment with me. But the maximum ... |
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yjchung92 | How should I determine fair market value for selling home to relatives? |
I want to determine a fair price and do not want to make it too high. But if I make it too low, aren't I essentially making a gift and subject to taxation if the gift is greater than $10000? |
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mockingbird
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An appraisal determines fair market value for an arms length transaction (one in which the buyer and seller have no relationship to each other.) Yours is a non-arms length transaction, but knowing the market value will help you decide where to price it. If funds are exchanging hands, then it's not a gift.
You can also try zillow.com. It gives you a value and the value of surrounding properties based on the address. However, compared to an appraisal by a licensed independent appraiser, the zillow values are often wildly different. |
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One
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They will need an appraissal for their mortgage anyway. Get an appraissal and sell it to them for 10% less than the appraissed value. This way, you feel good and they have just earned 11% increase in their home already. |
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Ron
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You should have access to tax rolls at city hall. They show the tax value and the fair market value for the entire city, just look-up the address. |
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dot&carryone.
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Look at the market for similar properties in your area. |
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Polymath
 |
Why not select an appraiser with your relatives, and agree to a price based on the appraisal. To avoid the gift tax, talk with a tax professional.
Off the cuff, I would guess that a price less than the appraisal wouldn't necessarily be a gift - it would be an easier transaction because it's not between strangers, and may not include a realtor.
But how much of a discount, and whether or not it applies in your case would be best determined by a tax or real estate attorney. It would probably be worth a couple hours of time (even at $300/hr.) to save you a bunch of tax headaches. |
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rdjhoya
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You can hire an appraiser, use a "free" market based appraisal from a real estate agent, or do your own comparative analysis of recent sales of similar homes in your area. |
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JRob
 |
Just have it appraised - real estate agents in our area are constantly offering to do a free, no strings appraisal in hopes that we will swoon at the thought of getting that much money and decide to list the house with them |
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Ami
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Have it appraised |
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tonalc1
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It's not a gift unless you designate it a gift. You can sell the house for whatever you want. An appraisal costs a few hundred dollars, but it's worth it. They research "comps", what other houses similar to yours in the area are selling for. |
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steve_mksmith
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compare to your neighbors selling prices |
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ufdan25
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If you want to avoid hiring an appraiser, go can go to the property appraisers website and get comps of what has sold in your area.
Find a group of homes closest to you and average out a SQ FT price...Then multiply that SQ FT price by the total sq ft of your house. |
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HMMMMMM
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Hire an appraiser.
Call a local lender in your area and find out who they recommend.
Pitfalls with other methods.
Free internet services will provide a large range of value, after all they have never seen the home. A smart agent also provides a range of value as well.
Using tax records will likely underestimate the value of the home. In most Florida counties, values are underestimated to avoid challenges to tax bills that consume additional time and resources for the appraisers office.
A full appraisal will give you a very accurate reading on what the market would pay for the property. |
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doe2711
 |
Here's how to do it for free:
Call a Title Insurance Company in your area - ask for the Customer Service Dept. - tell them you need to get a Property Profile - give the county and the address of your property
-you will get a list of comps in your area -usually within 1½ - 2 miles of the property - showing how much the houses in your area have sold for lately - it will give comparisons to lot size, square footage, year built, number of bed/baths' - from that you can get a fair market value for your house. Good Luck! |
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