0
Purchasing a short sale and bank wants me to share payment of seller's unpaid HOA fees lien can HOA fees be deducted as part of closing costs?
Wiki User
∙ 10y ago
Assessments may not be tax deductable, depending on the status of the real estate visavis your primary residence. You may be able to reduce the price you pay for the real estate by the amount of unpaid assessments.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
What determines how the burden of a tax is divided between buyers and sellers?
The burden of tax is divided between buyers and sellers by the forces of supply and demand.
Is anyone using double payment system?
The Double Payment System is just another make-money-at-home scam. You are buying an e-book which you then have to try to resell to others to make money. If you want to make money you are going to have to do real work, or become a criminal, like the original sellers of the Double Payment System.
Who pays for closing cost when selling house?
Sellers typically pay around 1–3% of the home’s sale price in closing costs. The term closing costs refers to fees for services that help to officially close the deal on a house. For sellers, closing costs usually include paying for an attorney, title insurance company, title transfer, and taxes. When people come to look at your house you want to make it look as warm and inviting as it can so that potential buyers can picture themselves and their family living in it. This could cost you anywhere from $500 to $2000 Staging costs include things like hiring a staging company, ordering cleaning services, renting furniture, installing brighter lighting, updating cabinets, and applying a fresh coat of paint. A lot of these might be things you can do yourself. Some real estate agents include the staging as part of their marketing services. Moving out of your house can cost you a lot of time, money, and stress. Boxes, trucks, and movers can all cost a good deal of money. The larger your home and the longer you have been in it the most costly it will be to move out. Of course, you can save a lot of this money by renting the trucks and moving your belongings by yourself (or with the help of some very good friends) Contact us at WeBuyHouses, 901-250-0100.
What is the advantage of nostro account?
NOSTROenables to keep cash in foreign currencyreduces the risk involved in conversion rates of currencieseasy payments to foreign sellers
What is the difference between organized exchanges and over-the-counter markets?
The difference between Exchanges and Over-the-Counter Markets is that in an exchange markets buyers and sellers meet in one central location to conduct trades and in an over the counter market buyers and sellers in different location that are ready to buy or sell over the counter to any one who comes up and are willing to pay the price.
Do sellers pay closing costs in Michigan?
Sellers should pay closing costs in Michigan. However, this is not a law by any means. Sometimes the sellers will offer to pay half, or they may expect the buyers to do it.
Can you use sellers assist for the down payment on a home?
Essentially, they are lowering the price, not providing for your down payment. Also, the lender is going to want that money to come from your account... This is ONE way there are others where lenders will gift you the down payment which comes back to them at time of closing or just find a 100% lender.
What is modern activities of purchasing?
Purchasing activities include researching the best sellers and negotiating on the price. With the Internet, purchasing is much easier than in the past.
How long after your new house closes do the sellers have to move out?
The timeframe for sellers to move out after closing depends on the negotiation in the purchase agreement. It typically ranges from a few days to a few weeks.
What differentiates purchasing and procurement?
Procurement is the process of getting something including market research and evaluating sellers. Purchasing is the action of ordering or requesting something.
How would you define money?
Money is any medium that is universally accepted in an economy by sellers of goods and services as payment and by creditors as payment for debts.
What does an escrow attorney do?
an escrow attorney is an attorney that calls and verifys buyers and sellers in purchasing products that sits in escrow .
What is paisa pay?
Paisa Pay is EBays online payment service, where buyers can pay sellers through credit card or bank transfer. Paisa Pay is EBays online payment service, where buyers can pay sellers through credit card or bank transfer.
What are the advantages and disadvantages for buyers and sellers?
advantages of purchasing : you get what you want and if it lasts for about a year then there was a point of getting it. disadvantages of purchasing : you spend the money you needed for something else that could help you or change you lifestyle.
how much do you really save by purchasing a used cell phone?
It is worth buying a used cell phones from reliable sellers, especially when on a budget. It's a good idea to do some research into any sellers that your interested in.
What is a seller-held second mortgage?
The seller holds a 2nd mortgage in lieu of getting the money from the buyer at close-- that way a buyer can have a partial down payment and a lower first mortgage. Ex. house sold for $100,000, 1st mortgage is $80,000, buyer has $10,000+ closing costs, seller holds a 2nd for $10,000 which the buyer has promised to pay back. At the end of the close, the attorney's have the buyers sign a promissory note and a mortgage note for the sellers. Then per the promissory note, the sellers get a payment every month or a payment every month with a lump sum in a year or two's time. When the buyers pay the sellers off, the sellers will give them a "satisfaction of mortgage" paper that has to be filed at the county court house. This will leave only the 1st mortgage on the property. I do have to say that all this has to be disclosed to the 1st lender and can be turned down by the 1st lender. This has to be disclosed because the buyers have to show that they can afford both payments on the house and the rest of their debt load.
I have paid 2500 dollars on a 2700 dollar car and sellers refuse to accept final payment and are threatening repossession. What are my rights?
A seller may not refuse final payment in an attempt to repossess.
