94925 : Questions & Answers

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Steve Ornell…, Real Estate Pro in Fremont, CA
Steve Ornellas answered:
What is the minimum amount of interest a person can charge on the sale of their home, if they are carrying the loan?
Jacksbusy:

Oggi is correct; however, doing so MAY create a potential tax exposure problem for you.

You see, I believe if you don't charge interest, the IRS can still tax you ... more
0 votes Share Flag Tue Mar 6, 2012 Home Buying in 94925
Kenton Wolfe…, Real Estate Pro in Corte Madera, CA
Kenton Wolfers answered:
I heard that as of Jan 1, 2013 home owners selling their home will no longer be allowed to carry the loan.
I would say there is no reason a seller can't carry the loan if they sell as long as they own the home free and clear. If you have a loan on your house and sell it most banks have ... more
0 votes Share Flag Tue Mar 6, 2012 Home Buying in 94925
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