 Ca i use my credit card to make a down payment for a house? |
can i use my credit card to make a down payment for a house?
credit line $15k max and no balance on CC. can i use it for a down payment?... |
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 If you are showing your house to buyers and a rat comes out dragging a rattrap because it didnt quite kill him |
| what is the best way to laugh it off?... What is the appropriate thing to say to potential buyers? It ruined my last deal... I just want to make sure it doesn't happen again...... |
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 How much MONEY does it cost to file a SMALL CLAIMS COURT CASE???????? |
| I moved out of my house at the end of my lease last month and I'm trying to get my $925 security deposit back from my landlord[s], but they keep bullshitting me, and now they won't answer ... |
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 I have no lease and I get charge a late fee if I am one day late? |
| I am renting and I have not had a lease for 11 years, within the last year my landlord told me that he wants $50.00 if I am even a day late. Within the last year I have been late 3 times, 2 of the 3 ... |
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 Im looking to purchase a home,and Im ready to make an offer? |
| Is 10% less than the asking price going too low or could I go lower and hope we can meet in the middle....thanks in advance...... |
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 Where can I buy a house between 80k to 90K In US? |
Where can I buy a house between 80k to 90K In US?
Not a condo, I said house 3 bd room at least 2000S... |
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 Rental deposit? |
| I recently moved out of my apartment and my ex kept it, he was never on the lease and now hes been asked to fill out a new lease am I entiltled to my deposit or can he apply it to his lease?... |
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 Can u proofread this so i wont get EVICTED?? |
i can not afford to live here anymore so im moving out. do u think this letter is ok?? can someone edit it or read it for me. thank you.
Dear Oak Tree Court,
First of all, thank ... |
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 I owe more than my house is worth? Felt like i was scammed? |
Hi,
we refinanced our home 3 years ago and took some cash out to pay some bills, now we have to move to another city and to find out that we owe 20k. I dont understand? I talked to an ... |
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| Am I allowed to have two leases for apartments if my one lease is ending a month after I move to the new city? |
| Im currently living in a town and my lease is up June 1st. I want to move May 1st into a new apartment but my landlord is being picky about the lease. Am i able to pay for my last months rent and ... |
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 How long do I need to be at my job before applying for a home loan? |
Hi,
I just moved to this area about 6 months ago and am thinking about buying a house. This would be my first home. Do home loans require a certain length of time on the job?
Thanks!... |
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 Where can I find out if a house that I like to buy has a clear tittle? |
The house is listed in realtor.com it is sitting on a lot of 20 acres or more the price looks to sweet and my fear is to travel see it, buy it, and later found out it has a lean or worst...
Is ... |
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Bob B | Should we sell or rent our second home? |
We have a second home which our parents plan to live in when they retire. The dilema is whether we should sell them the property outright or rent it to them. What makes more sense for both parties with regards to taxes and such. Who would you turn to for advice? |
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sweet_n_tender
 |
there is one question you have to answer, Is it putting money in your pocket or are you losing money every month? understand the difference of your liabilities and assets....if you dont have to fork out money at the end of every month to pay for the house then rent the house, if so, sell it..... |
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skinny
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sell it to then its family never no when thay pass away u might get it back double Ur money |
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elderkesler
 |
I believe that by renting the property you can avoid the "windfall" taxes that must be paid when you sell a property and dont use the money to purchase another one within a certain period of time. I would encourage you to contact a CPA, they would know more about taxes and what you would have to pay. |
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Angela B
|
There are a lot of "ifs" in your question. If you rent your home, what is the possibility of profits over time in doing so? Where is the home located? Property assessments vary, depending not only on state/province or city, but also on neighbourhood. What do other homes similar to your own sell for? How much money did you put into it? Also, would the profits from a sale give you enough money to invest or pay off debts? |
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KYRealEstateGuy
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I would rent it. You don't get opportunities like that very often. |
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curiositycat
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It depends on where you live and the property values. If you have a family attorney, ask them. Also consider what effect it will have on your parents if they have to have any type of assistance at home or long term care. Resource and assets are tightening up in that arena. There are many considerations. |
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marndogg
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You should probably consult an attorney, but think of it this way, if you rent it to them at a fair price it will help you pay the mortgage (if there is one) and being the fact that they are older they will not be there for ever you will not have to worry about who gets the house when they are gone because it is yours already. |
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Sugarbear
 |
First question, is the property paid off? If so, I am of the bias that you should let them live in the property rent free and perhaps help with the property taxes and maintenance. If the property isn't paid off, then you would have to determine how much of the costs you can reasonably absorb and how much help they would have to provide.
I am of the school of filial piety and strong believe that my parents deserve every bit of help that I can repay them. Can you imagine what life would be like if parents asked their young children to chip in on the mortgage, food and clothes? For their selfless love and support over the years, I would go to the ends of the earth for my parents.
**Edit:
With respect to the answers before and after me, I agree that you would be wise to consult the services of a CPA to determine what might be benficial to both yourself and your parents. On a side note, the "windfall profits" mentioned in one of the answers below only applies if you are not currently living in that second home and have been using it as income property. If you buy another one within a specific period of time, it is commonly referred to as a 1031 exchange. |
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kalamity
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There is no getting out of paying capital gains on a second home, no matter to whom/when you sold it. At some point you will have to face the tax man. But if you rent to your parents and qualify that property as rental property then at some point you could sold your present personal residence and take the $500K filing jointly exemption (you must live in that house two of the last five yrs to qualify); moved into your rental property and live in it for at least 24month. You will be allowed to another nice $500K exemption when you sold it. You have many options...but tax consideration is paramount. Consult a real estate attorney...Always get a second opinion. There is lots of help on the subject on-line or your local library. Best of luck. |
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Seth M
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You should sell it to them. They're going to get a much better brake on property tax than you. Also, you will have to count the rent towards your income at the end of the year, thus, putting yourself in a higher tax bracket. |
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