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The $250,000/$500,000 Home Sale Tax Exclusion Nolo

Details: Here's the most important thing you need to know: To qualify for the $250,000/$500,000 home sale exclusion, you must own and occupy the home as your principal residence for at least two years before you sell it. Your home can be a house, apartment, condominium, stock-cooperative, or …

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Real Estate & Investment Property Nolo

Details: 7031 Koll Center Pkwy, Pleasanton, CA 94566. master:2021-10-25_10-02-22. Whether you're a homeowner, aspiring house buyer or seller, or just live close to neighbors, you'll find a wealth of real estate information here.

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Tips for Selling a Property With Existing Tenants Nolo

Details: Many real estate investors are happy to pick up a property with an existing tenant who is up to date with rent and has a lease or rental agreement in place. If the tenant's lease will expire shortly after the sale closes, or if the tenant is month-to-month, then the property might also appeal to buyers who want to reside in the property

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Determining Your Home's Tax Basis Nolo

Details: Thus, if you hold on to your rental property until death, your heirs will be able to resell it and pay little or no tax—the ultimate tax loophole. Example: Victoria inherits her deceased parents' home. The property's fair market value (excluding the land) is $300,000 at the time of her uncle's death. This is Victoria's basis.

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Sales Tax Due When You Rent Out Your Vacation Home …

Details: Many people rent out their vacation homes on a short-term basis. Websites like Airbnb and VRBO can make renting your vacation home a very easy process. However, most states require people who rent out their vacation homes to charge and collect state sales or lodging taxes on the income they earn from short-term rentals.

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Does the Federal Fair Housing Act Apply to Your Rental

Details: The FHA generally isn't applicable when a building has two to four units, and the owner lives in one of them. Single-family homes rented without a broker. The FHA doesn't apply when a single-family house is sold or rented without a broker, so long as the owner doesn't …

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Is Home Staging Worth the Cost

Details: 7031 Koll Center Pkwy, Pleasanton, CA 94566. master:2021-10-20_10-59-58. Twenty years ago, nobody worried about "staging" their home before putting it on the market. Giving it a good scrubbing and hiding the kitty litter box was considered sufficient preparation for putting out the "For Sale" sign. But all that has changed, as more and more

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Shopping for a Home Archives

Details: In some geographic areas, the investors — professionals who plan to rent out or flip the house rather than live there — are actually the CAUSE of the price increases; in others, they’re just one of the active players in a local area with a rebounding economy. (See CNNMoney‘s Real Estate Guide 2013.)

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More Than Half of Millennials Want to Buy a Home

Details: The idea that real estate is a solid long-term investment is not a new one. And despite a major dip in the real estate market about ten years back, the market has recently picked up enough that many prospective home buyers have forgotten that it can go anywhere but up, up, up, in value. But here’s a factoid that seems less tied to tradition: Wanting to buy a home not only to live in

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Tips for Showing Rental Property During Coronavirus (COVID

Details: The coronavirus (COVID-19) presents unprecedented challenges for landlords—the virus didn't get the message that vacant rentals still needed to be filled.Between shelter-in-place orders and social distancing efforts, it might seem daunting—and even risky—to try to show your rental property to prospective new tenants.

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Residential Home Sellers in Washington: What the Law

Details: master:2021-09-01_13-27-00. In the state of Washington, you, as a residential home seller, are required by law to disclose certain details about a residential property you are trying to sell. These disclosures are important because buyers want to know as much as possible about a property before they make such an important purchase.

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Buying a Foreclosed Home as a Rental Property

Details: Some investors are eager to purchase single-family homes in foreclosure, hoping to take advantage of low prices and then turn a profit by renting the properties to tenants.But many of these buyers are not experienced landlords, and even experienced landlords often fail to consider crucial factors that will make the purchase of a foreclosed home a success or failure as a rental property.

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Selling Your Home in a Hot Market Nolo

Details: 7031 Koll Center Pkwy, Pleasanton, CA 94566. master:2021-10-25_10-02-22. Real estate sellers might think that a "hot" market means fast, easy money for their home. After all, a hot market means low inventory combined with lots of buyers looking for the perfect place. In many instances, a hot market does indeed mean a faster sale at or above

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Taxes You Need to Pay When Selling Rental Real Estate Nolo

Details: When you sell rental property, you'll have to pay tax on any gain (profit) you earn (realize, in tax lingo). If you lose money, you'll be able to deduct the loss, subject to important limitations. Your gain or loss for tax purposes is determined by subtracting your property's adjusted basis on the date of sale from the sales price you receive

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How to Arrange a Short-Term Rent-Back With Your Home

Details: A rent-back agreement can be critical to ensuring that the sellers don't face a gap in housing if they close their sale before finding a new place to live. By Brian Farkas , Attorney Sellers often buy a new home at the same time as or soon after selling their old one.

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The Shared Vacation Home Nolo

Details: And depending on how many days you rent out the property, there might be some tax implications to consider. (See IRS Publication 527, Residential Rental Property, for more information.) Regulatory Hurdles of Fractional Vacation Homes. In many states, timeshares and fractionals are subject to approval by a state real estate agency.

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Selling a Home in Michigan

Details: It contains blank lines for the name of the buyer, the amount of the proposed purchase price, the type of financing for the sale, the amount of the earnest money deposit, the fixtures included, and the closing date. This form is filled out by the buyer's real estate agent and signed by the buyer.

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Florida Abandoned Property Abandoned Property Laws in FL

Details: After the sale, you can use the proceeds to pay for the costs of storage, advertising, and the sale itself, but within 30 days of the sale, you must give any leftover money to the treasury of the county in which the sale took place. The tenant can claim the money from the county for up to a year later.

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The Home Sale Process Nolo

Details: What to Expect During the Home Sale Process. The closing is when a home seller transfers the property to the buyer, fully pays off any mortgages, and receives the sales proceeds. Quitclaim deeds, grant deeds, warranty deeds, trust deeds—answers to frequently asked questions about deeds.

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Selling Your House- Legal Book

Details: Selling Your House: Nolo’s Essential Guide gives you all the tools you need to strategize, plan, and close the deal, including: choosing among offers and negotiating the contract. Strategize for a quick and successful home sale with this all-in-one guide. See below for full product details.

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Can I Put a Tiny House in My Backyard in Florida

Details: Question. I live in Florida and want to put a tiny house in my backyard. Eventually, I plan to use it as a residential rental, but for now, while my children are living at …

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Tips for Building, Using, or Renting Out a Tiny House Nolo

Details: A tiny house, like a car, tends to depreciate over time; as personal (not real) property, it doesn't add value to the property it sits on (although you can always sell it separately). So, while the rental income from either an ADU or tiny house may end up paying for the investment in the long term, garage remodels typically hold their value longer.

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Mobile, Manufactured, and Tiny Homes Nolo

Details: Manufactured Homes: What Happens If I'm Behind on My Land Lease Payments? If you default on the lease or rent payments for the land your manufactured home sits upon, you could be evicted and have to move your home.

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Selling a House Nolo

Details: 7031 Koll Center Pkwy, Pleasanton, CA 94566. master:2021-10-20_10-59-58. You love your home, and think it should sell for top dollar. But how do you make sure buyers see it the same way? Find out about marketing strategies, appropriate pricing, negotiating, and tax issues here.

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Which has a better return on investment, condos or single

Details: Answer. As with all real estate investments, it depends—on the particular property, location, market, and other factors, such as the annual return you expect on the investment, or cap rate. Some of the relative pluses of single-family homes over condos include: Appreciation potential. Condos are often considered easy, low-maintenance options

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How Much Does Owning a Home Really Cost

Details: Do Not Sell My Personal Information. 7031 Koll Center Pkwy, Pleasanton, CA 94566. master:2021-10-20_10-59-58. When people think of how much it will cost to buy a home, they tend to think of the purchase price. And no wonder: With median home prices in the U.S. hovering over $260,000 (in 2020), the list price is a number that would grab anyone's

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FAQs About Buying a Home That's a Designated Historic Property

Details: 7031 Koll Center Pkwy, Pleasanton, CA 94566. master:2021-10-20_10-59-58. Homes listed on registers of historic places are subject to unique rules and regulations. Learn what limits you face as an owner of one of these homes, possible benefits of having your house registered as a …

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Is Buying a Mobile Home a Good Investment

Details: how much a mobile home space will cost to rent in your area, and; your long-term financial goals. As you analyze whether a mobile home is a good investment for you, there are a couple things to keep in mind. Mobile Homes Tend to Drop in Value. Mobile homes placed …

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Can I Build a Tiny House on a Vacant Land in Colorado

Details: Like a tiny house on a foundation that must comply with the local building code, tiny houses on wheels in Colorado may have to meet certain safety standards. For example, if you buy a new park model recreation vehicle to use as your THOW, it must comply with American National Safety Institute standard 119.2, according to the Colorado Statutes

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Making an Offer on a House Nolo

Details: Home Legal Topics Real Estate & Rental Property Buying a House Making an Offer on a House. Making an Offer on a House. Most buyers don't buy the first home they look at -- nor should they. Beginning a home search involves getting to know the local market and neighborhood, carefully evaluating each home's condition, and, when you've found the

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My home is in foreclosure and someone boarded it up while

Details: Typically, the mortgage servicer hires a property preservation company to take care of the property. Unfortunately, property preservation workers sometimes go into currently occupied homes, cause damage, or take valuables. Some of the reported abuses that property preservation workers have committed are: changing the locks on the wrong house

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Can I Build a Tiny House on Vacant Land in California

Details: requirements that tiny homes and RVs be placed in designated communities, like a tiny-house village. Tiny Houses Must Meet Safety Standards The California Department of Housing and Community Development ("DHCD") issued an Information Bulletin to clarify …

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Affording a House Nolo

Details: 7031 Koll Center Pkwy, Pleasanton, CA 94566. master:2021-10-20_10-59-58. No matter how the real estate market is doing, there's no getting around the fact that houses are expensive. Here are some tips for bringing the house of your dreams within reach.

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Why Shouldn't I Sell Without an Agent (FSBO) When Houses

Details: When there is low housing inventory, prospective buyers—the people whom you're hoping will flood in to look at your home—are more likely to use an agent to locate homes for sale, either before they come on the market or immediately upon listing. Most of the time, agents are looking on the Multiple Listing Service (a realtor-created and

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I plan to sell my house: Can I evict my tenant

Details: Perhaps that means paying for the tenant's moving costs, or finding a rental broker. Perhaps that even means paying for the tenant's first month's rent or security deposit in the new place. Even paying several thousand dollars could be worth it to ensure that the overall sale goes off without a hitch.

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State Real Estate Laws and Legal Information Nolo

Details: Learn about buying, selling, and owning real estate in your state. Learn your state's real estate laws and get advice for your real estate questions.

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Can I Build a Tiny House on Vacant Land in Florida

Details: Hiring local experts, like a tiny house builder and a land use attorney, may be helpful. Before Buying Any Florida Land, Complete Your Due Diligence. With tiny houses, it's critical to complete a thorough inspection of any prospective property before you close on the sale.

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How long should I hold my real estate investment property

Details: The return on your investment (ROI) will depend on many factors, including fluctuations in the market, your costs to maintain the property (such as taxes, maintenance, and insurance), the amount of rent you receive, the interest rate you obtained on your loan, and the type of property it is (such as a condo versus a single-family home).

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Legal and Financial Issues to Consider When Co-Owning a

Details: 7031 Koll Center Pkwy, Pleasanton, CA 94566. master:2021-10-20_10-59-58. When you buy a home with others, you're not just entering into a living arrangement, but a legal relationship, as well. The legal niceties of how you own a home together determine issues like: how you can get financing.

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Can I Build a Tiny House on Vacant Land in Oregon

Details: prohibitions or limitations on using structures not permitted for permanent residential use, such as recreational vehicles ("RV") or mobile homes (for example, in Portland, Oregon, a tiny house on wheels will most likely be defined as an RV, and prohibited in residential zones when used as a dwelling)

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Real Estate Terminology for Home Buyers Nolo

Details: Real Estate Broker. A real estate professional licensed to negotiate the purchase and sale of real estate for a commission or fee. In most states, a broker is one step up from a real estate agent, having more training and the power to supervise agents. However, in some states, the term "broker" is used for all agents. Realtor®

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Buying a Mobile Home Instead of a Regular Home: Pros and

Details: Mobile homes, also known as "manufactured homes," are built in a factory and placed on a trailer chassis to allow them to be moved. Mobile homes are sometimes placed in a mobile home park or on leased land. In these cases, the owner rents a space or leases land, but owns the mobile home itself.

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Buying Foreclosed Properties Nolo

Details: Buying a House in Preforeclosure. There's a narrow window of opportunity in which one might buy a property from a homeowner in financial distress before actual foreclosure proceedings have occurred. Buying a Foreclosed Home as a Rental Property. With so many foreclosures on the market, it's tempting to think about buying one to rent out.

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Listing Your House: What List Price Should You Set

Details: Kept by real estate agents nationwide, this database tracks homes that have been bought, sold, and everything in between. Although the public can access data on homes currently for sale, agents have access to a lot more.

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FSBO Home Sellers: Here's How to Reduce Your Capital Gains

Details: When you use a real estate agent to sell a home, the commission you pay is an expense that the IRS says will reduce the amount of capital gain realized on the home sale. When you don't use a real estate agent, you will probably spend at least ten hours a week responding to prospective buyers via telephone or email and showing your home.

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