Who do I get to do a real estate appraisal if I want to get the lowest value possible?
Wednesday, September 8th, 2010richard h asked: Who would I use to appraise a home if I want to get a low value? This would be for lower property and estate tax. I know that if I just call a real estate agent they might be likely to inflate the value as their job is too make the house [...]
2008 real estate tax credit?
Monday, September 6th, 2010Kat asked: I bought a home in 2008 and received a “refund” check for $7325 as I was a first time buyer. Does this money need to be paid back? Or not, as is the case with the 2009 first time homeowners credit.Lou Delashaw
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I want to give my house to my son. I understand the tax issues, but is all I have to do is transfer the title?
Sunday, September 5th, 2010russtom asked: I’ve read and understand the gift and estate tax issues, I’m just trying to figure out who I have to contact - or is it as simple as transferring a car title?Christopher Golumski
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To the real estate professionals. Do you expect house prices to drop after november and the tax credit expires?
Friday, September 3rd, 2010Nick W asked: I’m looking to see your forecast on what will happen to prices. There are a lot of houses on the market and I picture them to drop quite a bit. Any percentage amount you’re predicting?Omar Louris
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I read that you can buy real estate from the city if someone doesnt pay their property tax. is it true?
Wednesday, August 25th, 2010misstiff asked: If someone doesn’t pay their property tax, then the city will place a lien on their home, until they pay. If they still don’t pay the city will put it up for sale, just for the price of their property tax bill that they owe. Is this true, if so, is [...]
When real estate taxes due on a contract for deed sale?
Tuesday, August 17th, 2010jesbrd1 asked: I am selling a house that I inherited from my parents contract-for-deed. After 4 years of monthly payments, the buyers are obtaining a bank loan & paying the remaining balance in full. What, if any, will be my income tax responsibilities?Ramona Jenkins
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How do foreclosures affect local real estate tax collection?
Monday, August 16th, 2010Bobo asked: Does a property stop generating real estate tax revenue while it is in foreclosure? Does the delinquent amount have to paid by the eventual “owner”?Guillermo Burton
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Concerning the real estate tax credit?
Tuesday, August 10th, 2010Why Hello? asked: If you would want to take advantage of the first time home buyer tax credit, do you only need to have a signed contract? Or do you need to also be approved for a loan and have a signed contract?
Thank you
I am in the process of moving to another state and am [...]
what are the tax liabilities for caring the note on real estate? owc, or owner financing?
Saturday, August 7th, 2010alfonsoortiz1@sbcglobal.net asked: what is the best way to be the bank, for my kids, on their house, without being over taxed. I have done it once before doing a home equity loan at 6% interest and charging them 8% interest. but i got hit with big capital gains tax. It also seemed [...]
Should I transfer the deed of my parent’s house or wait for estate transfer?
Friday, August 6th, 2010Justin F asked: My parents are close to passing on, and their house if worth around $450,000 (with their total estate, not much more). Should I transfer the deed now, which I understand to be a “gift”, or should I wait until they pass on, which would be subject to estate tax?Tiffanie Lamoree
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