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Home Selling in 07307 : Real Estate Advice

  • All57
  • Local Info9
  • Home Buying27
  • Home Selling4
  • Market Conditions4

Activity 4
Tue Mar 28, 2017
Jonmat0328 asked:
Still some apartments in building shows bubbles from outside due to construction problem. Lawsuit is resolved however HOA doesn't start work.
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Tue Mar 28, 2017
Bazizzle answered:
That would be taxed at your regular income tax rate for both state and federal. You don't have to pay fica though.

Since you're in NJ, I'd set $60,000 aside for taxes.

See if you can postpone closing until after you've owned the property for a year. That would lower your federal liability to long term capital gains, which I think is 15% over a certain amount and 0% below that amount. If you have to ask the intersweb you'd better hire an accountant.
... more
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Sun Jan 19, 2014
Diane Maxon answered:
Hi - Legal information is best to get from an attorney. If you contact the Hudson County Bar Ass'n they can give you information about inexpensive legal advice. They have a program where you pay $25 (could be a little more) and they give you the names of 2 attorneys in the field you need. The payment allows you a one hour consultation with each attorney. That my be one way to get the advice you need. ... more
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Tue Feb 5, 2013
Diane Maxon answered:
Joe - you really need an attorney to represent you in this matter. I would look for an experienced estate attorney to represent you. This is really a question for an attorney, not a realtor. ... more
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