Homeowners lived in a home for 2 years and then rented it out for the past two years. They want to continue renting it out, but they will sell now if that's the only way to avoid capital gains tax. The IRS website is a good place to check for the tax implications before making any real estate decisions.
Builders are facing cancellation of new construction contracts all over the country. Unless it is specified in the contract, there is no obligation on the part of the builder to return your deposit if you cancel the contract. As the buyer, you are obligated to fulfill the term of your real estate contract.
Inherited property can involve many different tax implications. If you sell for the amount the estate valued it at, you might not ow any taxes. If the property has appreciated, you will have to pay capital gains tax -- unless you used it as a primary residence. With investment property, you may be able to use a 1031 exchange. Talk to an accountant or estate attorney for more options with inherited property.
Is it legal to raffle or lottery off your home? You'll have to do the research for your particular state, but most likely, selling a home through a raffle or lottery is illegal.
A home buyer purchased a home that turned out to have major septic problems that weren't disclosed at the time of the purchase. The septic field should never have been approved by the health department. In some states, if you have to sue the seller for a failure to disclose a material issue that should have been disclosed to you, you may also be entitled to recover your costs of suing the seller for a recovery.
In some states, selling homes through a lottery or raffle is legal, but may be strictly regulated. If you plan to have people participate in your home or house lottery that are from states other than your own, you may have to comply with the lottery or raffle rules in each of those states.
Investment property can be a profitable venture -- that is, unless the market changes dramatically and makes it difficult to sell. All real estate investors want to get their property sold without going bankrupt in the process. Selling your investment property in a down market might come down to savvy marketing.
A homeowner was approached by a developer interested in buying her home. It's important to know you'll need a real estate attorney to represent you if you decide to sell your home to a developer. The real estate attorney can handle negotiations with the developer on your behalf.
