Home Buying in 77057 : Questions & Answers

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Susie Kay, Real Estate Pro in Dallas, TX
Susie Kay answered:
My 6 siblings and I have recently sold our family home. Proceeds of the sale were split equally. What our our tax obligations?
I'm afraid I will have to echo my colleagues below. You'll need to discuss this with your accountant as we are not the expert on taxes.
0 votes Share Flag Wed Nov 4, 2015 Home Buying in 77057
Tony Grech, Real Estate Pro in Southfield, MI
Tony Grech answered:
My fiance and I are residents of Texas and are closing on a home. We wanted to know if there is a benefit to being officially married before the
Are both of you going on the mortgage? TX is a community property state, meaning a spouses qualifications need to be considered even if only one of you want to go on the loan. So if yo ... more
0 votes Share Flag Tue May 26, 2015 Home Buying in 77057
Mark Brown, Home Buyer in New York, NY
Mark Brown answered:
I inherited house with 3 siblings. 2 of us both want to buy out others. What is the fairest way to solve buy out dispute and avoid bidding war?
Get three appraisals and use the average to set value. Divide it by 4. You have your buyout.
0 votes Share Flag Thu Apr 30, 2015 Home Buying in 77057
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
what happens when 2 siblings inherit a house and each sibling wants to buy out the other one's interest?
Unfortunately one sibling will need to give in, so discuss further amongst yourselves until an agreement is reached.
0 votes Share Flag Wed Nov 5, 2014 Home Buying in 77057
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
Three sisters own house thru inheritance. No mortgage. One sister wants to buyout others and keep as rental property. How is this done?
The short answer is you need to have the property appraised. Agree on a sales price based on value. The sister who wants to buy the home pays cash to the other sisters or gets a mortga ... more
0 votes Share Flag Sat Oct 18, 2014 Home Buying in 77057
Rick & Terri…, Real Estate Pro in Houston, TX
Rick & Terri Cole answered:
Selling does not want earnest money held by title company. Where else could it be held. Strange
The title company is a neutral party paid to provide a closing, title insurance, prepare closing docs, calculate closing costs according to lender instructions and distribute funds. I ... more
0 votes Share Flag Thu Jun 6, 2013 Home Buying in 77057
Ruth Duance, Real Estate Pro in The Woodlands, TX
Ruth Duance answered:
Does a foreign national pay more taxes over a property than a US citizen?
Daniel,

I too am not a tax advisor, but I am a foreign nationl! If you are a resident of the US and pay US taxes I believe there are no differences in the taxes paid on a home, If y ... more
0 votes Share Flag Sat Jul 19, 2008 Home Buying in 77057
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