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Home Selling in Northport : Real Estate Advice

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  • Home Buying6
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Activity 4
Mon May 30, 2016
Diane Christner answered:
Trulia does not allow FSBO to post directly to this site. Try Zillow instead.
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Thu Oct 8, 2009
Dallas Texas answered:
Best confer with mortgage broker or CPA who can detail loan answer all your questions where you can qualify for $8K tax credit.

Are you aware you receive annual tax benefits whlle you own any home

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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Thu Jun 4, 2009
Dirtha Campbell answered:
A. Section 36(c)(1) requires that the taxpayer and the taxpayer's spouse not have an ownership interest in a principal residence within the three years prior to the date of purchase.

This is regardless if you are qualifiying as an individual or joint application and regardless if you married filing single.
A first-time homebuyer is an individual (and the individual's spouse, if married) who has not had an ownership interest in a principal residence (within the meaning of Section 121 of the Internal Revenue Code) during the three years before the date a new principal residence is purchased.
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Mon Nov 24, 2008
Gail Gladstone answered:
Realtors are not permitted to give legal advise, but I can tell you in my experience with commercial real estate (and residential) that your attorney has probably agreed to extend the closing date based on good reasons; please communicate well with your attorney to know what is going on.

I have had this happen with one of my transactions and in that instance, all contingencies had been met and the buyers were not coming to the closing table, and all notifications have been sent to the buyers that we were going ahead with the closing, they had to appear or be in default of the deal. Once in default, procedures were initiated to retain the down payment money and the end result was that the contract was cancelled and monies retained.

Please open a line of communication with your attorney to get a full understanding of what is happening in your particular situation and what your options are.
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