Posts Tagged ‘Buying House’
Buying a home. The tax map shows, and therefore tax bill reflects, the property having additional land ?
Monday, June 21st, 2010We’re in the process of buying a house in Westchester on about 7,000 sq feet of land, according to the deed. The Tax Map shows it as a 7,800 piece of land. This property is an estate sale, and its always been owned by the original building family (built in the 1930s) until the wife’s recent death. The title company obviously has a problem with this, and we don’t want to pay taxes on land we aren’t purchasing. How "good" are most municipalities on clearing these things up? Will it take longer than 30 days? Is it the seller’s job to clear it up, or do we buy and then clear it up ourselves?
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Buying a home with parents-in-law as investors: - How to structure the purchase to protect all involved?
Saturday, December 26th, 2009My wife and I are buying a house. My parents in law want to invest in this house too, so are putting 0k into it (cash). We will get the balance via a mortgage and will live in the house paying all living expenses. Parents in law are doing this purely as an investment, meaning that when we sell in a few years they want to extract their profit relative to how much of the property they own.
We want to make sure we can take advantage of mortgage interest tax deductions, homestead exemption etc. They want to make sure they don’t have to pay tax on any profit they make.
How do we do this? Do they ‘gift’ us the money, then after we close do a Quitclaim deed? if we do that, when we sell the house can we split the proceeds any way we want?
Or do we do this as an ‘on-demand’ loan from them?
Or do we do this as a joint investment and close together?
It seems more complicated than it needs to be.
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Does anyone have experience buying tax lien property?
Thursday, September 3rd, 2009I am interested in buying a house for my family and I saw a program about purchasing tax lien properties, does anyone have experience doing this, what are the procedure? Any advice? Because this sounds too good to be true and I don’t want to get my hopes up.
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Where do you find out about tax lien foreclosure sales?
Sunday, August 9th, 2009Does anyone know how I can find out about buying a tax lien foreclosure house, particularly in california?
