Double whammy.
I thought @Evoex went through a similar situation with his dad's place a few years ago where he indicated that it can help with income.
But been a while.
How`s your house pricing doing?..
- Thread starter Glenn/RZ500
- Start date
I thought @Evoex went through a similar situation with his dad's place a few years ago where he indicated that it can help with income.
But been a while.
If it wasn't your primary residence, there is the possibility for capital gains and losses.
Mad Mike
Well-known member
Power of sale means the lender most likely took the big hit.
There were some changes in late 2016. Cap gains can apply if the house is no longer occupied by the owner. If the house sells long after granny dies, expect a CG adjustment. Dead people aren't occupants.
I assume the same if granny moves into LTC.
Remember, the majority of people losing money on home sales purchased during COVID mania.
In the middle of a worldwide crisis prices spiked and did that make any sense? People sold high and purchased higher and then it came crashing down.
No one talks about the people who don't flip houses, purchased their place years ago and while they missed the peak, on paper, are still far ahead, and likely have a paid off mortgage. Sounds dull and boring, but it works.
In the middle of a worldwide crisis prices spiked and did that make any sense? People sold high and purchased higher and then it came crashing down.
No one talks about the people who don't flip houses, purchased their place years ago and while they missed the peak, on paper, are still far ahead, and likely have a paid off mortgage. Sounds dull and boring, but it works.
Everyone wants to be a baller , when it’s easy money . Buy , fake living in it , roll it over in two/three years and make a couple hundred K .
Then the music stopped and you didn’t have a chair .
Sent from my iPhone using GTAMotorcycle.com
Then the music stopped and you didn’t have a chair .
Sent from my iPhone using GTAMotorcycle.com
