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Home Selling in 92277 : Real Estate Advice

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  • Local Info1
  • Home Buying3
  • Home Selling4
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Activity 4
Fri Jun 7, 2013
Ron Thomas answered:
They may need some rentals for workers at the casino.
You cannot rent it out, and claim that income to help with qualifying for a new loan, until you have a two year record. (Kinda defeats the purpose, nuh?)
If you're only $10 or $15 upside-down, you maybe should wait it out.
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Sat Jan 5, 2013
lipscomb666 answered:
I am buying this type prpperty.Please send info.
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Sat Sep 8, 2012
Mike Sullivan answered:
Michele....if the sale closes before 12/31/2012 AND is was occupied as your primary residence you would not owe tax on the sale.....the mortgage debt relief act is set to expire at the end of this year, and if not extended would certainly change things!! yes, you will receive a 1099 on the sale, and it is reported for tax to check with your accountant to be sure of the tax implications ... more
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Wed Oct 22, 2008
Diane Wheatley answered:
Definately a question for a real estate attorney. California is a community property state and there may be a very good chance that your mother held an interest in the 29 Palms property and was entitled to her share at the close of escrow. If this was a property in 29 Palms that she owned 37 years ago and you are just now realizing this fact the likelihood of receiving proceeds are not going to be worth the time or trouble. But I do not know all of the facts and you are in the best hands going to a lawyer. Good luck!

Diane Wheatley, Broker
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