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Home Buying in Amsterdam : Real Estate Advice

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  • Local Info1
  • Home Buying7
  • Home Selling2
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Activity 5
Tue Sep 26, 2017
Kaylaluv1337 asked:
Sat Apr 23, 2016
Kathy Burgreen answered:
Don't do it. Technically yes you can borrow money from your IRA or 401K to use as a down payment or for closing costs, etc. However, if you are under 59.5 yrs. of age, the IRS will tax you on that income and you will have to pay a 10% penalty. So you will need to withdraw more money than what is required because of the taxes and penalty. You will have to check with your employer because your company sets the rules and regulations regarding withdrawals and loans. Also some IRA and 401K take the taxes and penalties up front. Others take it differently.

The other issue is the money you withdraw will lose interest until you replace it. You also need to understand if you lose your job the money withdrawn must be replaced immediately.
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0 votes 1 answer Share Flag
Fri Feb 22, 2013
Anna M Brocco answered:
If your interest in the property is high, rather than relying on pictures, why not schedule a showing, see all firsthand.
0 votes 2 answers Share Flag
Tue Feb 12, 2013
Advantage Building Inspections answered:
If your looking for a home inspector in this area give me a call
0 votes 4 answers Share Flag
Sun Jun 21, 2009
Bill Eckler answered:

Being from the Amsterdam area, we strongly recommend you research the rental market for the area.
0 votes 1 answer Share Flag
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