 Is 1200 to much to pay for rent? |
| for a two bedroom apartment in your area?... |
|
 Is it legal for a landlord to do this? |
| My lease expires Dec 31, 2008. At previous expirations, three months before hand my landlord would ask me to let them know if I intended to renew or not, but I did not have sign my new lease before ... |
|
 Question for Home Buyers and Sellers? |
Buyers, if you are buying a home, do you prefer to see picture nails/hooks on the wall, or is it better to take 'em out and leave just a nail hole?
Sellers, which way are you going ... |
|
 I want to sell my home, who is a reputable realty companie to go through? |
| I dont want to spend too much on commision and closing cost, can anyone recomend a company? What should I look for and avoid?... |
|
 My Realtor caused me not to get a house. its avail now because other buyers loan failed. Must I use him now? |
| My Realtor dropped the ball and did not submit material to the sellers agent in reasonable time so the sellers chose another strong buyer interested in the same house. Luckily the other buyers loan ... |
|
 If i live in an apartment can mantinence unlock my door and walk in if I dont answer the door or am not home? |
| Just wondering if theyre actually allowed to do that. We called the other day to have our dishwasher fixed and they said they'd sned someone (didn't give us a time or anything) so today my ... |
|
 I am sick and tired of hearing people down people who are in a foreclosure situation!? |
| Me and my husband are stable, we already owned a home and bought a second home. We had a 5.99% for two years and anticipated on refinancing after the two years at a fixed rate. However, the housing ... |
|
 Roommates been gone for a few weeks, can i still make her pay her part in bills? |
| my roommate hasn't been staying in our apartment since the third week in june. we just got some bills in for utilites and gas. can i still make her pay half even though she's been gone ... |
|
 If a realtor came to your door and gave you a plastic business card, would you keep it? |
| it would be clear or frosted. It would have the realtor's pic and info on it. Would you keep it OR still throw it away.... |
|
 How much do you have to earn to rent a property for £850 a month? |
| I've found a great flat to rent for £850 a month. I was just wondering how much our income would have to be for them to accept our application on it? (I'm going to rent it with my ... |
|
 Do I need to be employed to qualify to rent a apartment.? |
| I do have money in the bank which I am living off but I do need to move out of my dad's estate and find a place to live and eventually get a job but in the mean time I was wondering if ... |
|
 My roommate had her boyfriend move in after i had signed the lease with her. Is there a way to get out of it? |
| Well My best friend of 12 years and I moved into a apartment. I was informed it was just going to be us living there. Well a month after we moved in her boyfriend moved in. He has been living here ... |
|
 Is there a form that I need to fill out to give my landlord my 30 day notice? |
| Live in Texas. Renting a house. Lease has expired. Need to move out. Landlord requires 30 day notice. I would like to provide something to her in writing giving her my 30 day notice. Is there a ... |
|
 I had lost my home? |
| i found out that my landlord has sold the house that i was living in,and buy the 31 oct,i will be homeless.so i have to give up my dog and losse my home.great ???... |
|
 How long does it take to close on a house? |
Additional Details
The bank has the title search done (all good) the appraisal done (also good) and already prequalified (for alot more than I need!).... |
|
|  |
tia | I want to sell my condo but I hear that there is a penalty for selling less than 2 years after purchase? |
Can anyone give me details, or where I would go to look up the correct answer? |
 |
 
Jandenise
|
Capital Gains. If you own a home and it is your personal residence for at least two years you can exclude up to $250,000 of gains tax free, $500,000 for a married couple.
If you did not own the home for at least two years, you will be subject at tax time to capital gains for the amount you gained, i.e, the difference between what you paid and what you sold it for. That is because when you close on the sale, the title company will report the sale to the IRS. You can, however, write off any improvements against that gain... so save your receipts! |
|
santa s
|
www. Department of Real Estate.com
but their is not any penalty except that you have to pay more taxes. |
|
Sammyleggs222
|
I don't think so unless it is in your condo agreement somewhere and you are aware of it. Talk to a lawyer and he/she will go over your deed info and rights of your association. |
|
sjs
|
My husband says he's never heard of that. He used to be a realtor. He said since you live in a condo, they have separate community rules that have to be followed, so check your homeowners rules. |
|
newmexicorealestateforms
 |
Yikes another tax question; today has been tax day. Here you go from our research department
IRS: Real & Personal Property Sales: http://www.ustreas.gov/auctions/irs/
Home Sale Exclusion rules, publication: http://www.irs.gov/newsroom/article/0,,id=105042,00.html
IRS: Gain and losses on real property:
http://www.irs.gov/publications/p544/ch01.html
then after you get finished paying all those taxes you might want to take what's left over and move out of the country you can check all the countries out here:
CIA: Information on foreign countries: World Fact Book: https://www.cia.gov/cia/publications/factbook/index.html
lol
Buena Suerte |
|
betitodetroit
 |
you dont get a capital gains tax exemption, so if there has been any price appreciation, you pay taxes on it, like income |
|
Freddie
|
You aren't penalized precisely for selling at less than 2 years, but you might not benefit either. Your condo may have risen in value since you purchased it. If this is the case, that is good news. However, here's the catch. You will be subject to capital gains taxes on the increased price you receive upon the sale of the home because you haven't lived there a minimum of 24 months out of the previous 60 months. That's the fun IRS at your service. If you had lived there at least twenty-four months, then you could be eligible to protect up to 250,000 in capital gains from the tax. If you are really concerned about the tax benefit, then stay for the full 24 months, otherwise, do not worry overly much about the sale. You can consult a tax professional if you have further questions on the taxes due on the sale of your house. |
|
crazylandp
 |
Talk to an accountant, but typically you have some exemption from taxes on a principal residence sale when you own it for 2 or more years. |
|
ken
 |
you might be referring to a mortgage penalty for prepayment or selling prior to 2 years. you need to check your mortgage documents. |
|
greenshirt
|
It looks like you are refering to capital gains tax. As previous post mentioned if you sell before you have lived there for 24 months you may be subject to pay tax on any increase in value from when you purchased the home. There are however ways to get around this tax. Such as moving for employment, it has to be a certain distance to your work, or if you are forced to sale due to finacial hardship. As always get advice from a CPA, tax attorney or other qualified individual.
Go the the IRS webiste and in their search bar type in capital gains tax. It will provide you with the info you are looking for.
And if you are reffering to prepayment penalties on your mortgage there really is no way out of that, you owe the lender a penalty(fee) for paying off your mortgage early. |
|
John Luke
 |
Here is a good guide:
http://www.ehow.com/how_7231_sell-condo-co.html |
|
Richard M. Johnston, Realtor
|
Yes, I suggest you speak with you accountant and also make sure your loan does not have any prepays. |
|
Alterfemego
|
If it's your primary residence and you sell before you've lived in it for 24 months, you may owe capital gains taxes. |
|
grumm_dmons
|
you need to call your mortgage company, some mortgage companies will have a provision that says they will penalize you and some wont. |
|
ceece
|
yep, if you hold it for less than 2 years, it's a capital gain and you pay tax on anything you seel it for over the purchase price, minus the cost of any improvements.
Ex: paid $150,000 in 2005
sold $200,000 in 2006
gain of $50,000.
But if you made improvements (paint, remodel, addition, electrical upgrade) that cost is deducted from your gain.
ex: gain of $50,000
imprv. -$10,000
total taxable gain = $40,000 |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
15 | 39 minutes(s) ago
| | | |
15 | 2 hour(s) ago
| | | |
15 | 6 hour(s) ago
| | | |
15 | 9 hour(s) ago
| | | |
14 | 11 hour(s) ago
| | | |
14 | 1 day(s) ago
| | | |
15 | 5 day(s) ago
| | | |
15 | 2 week(s) ago
| | | |
15 | 2 month(s) ago
| | | |
15 | 4 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
