sold my rental house

[dirtwarrior]

I sold it without an agent but buyer had an agent. The put me i a room with an attractive flirtatious woman.
She tried to sneak about 3000 in fees in on me. Well it did not work and I walked out. Called at home and was asked to come back in. This time a different woman. This time they were all business and tried nothing.
Guys watch it when buying or selling something expensive

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[JCFoster]

I’m sure it was to help pay her plastic surgeon

 

[dirtwarrior]

That is a great idea. No hidden fees.
I bought a property in early 80s. All I had involved was the bank. They handled everything. Things has to be more complicated now

 

[jtmat]

I sold it without an agent but buyer had an agent. The put me i a room with an attractive flirtatious woman.
She tried to sneak about 3000 in fees in on me. Well it did not work and I walked out. Called at home and was asked to come back in. This time a different woman. This time they were all business and tried nothing.
Guys watch it when buying or selling something expensive

I'd say "know your numbers"... I've sold and purchased a couple of houses... one recently.

Funny story along those lines: in the 90s I was working on VOIP proposals and a company sent in their staff. I swear, it was three ladies and a guy. ALL of them looked like models and they even dressed with military precision. One of the strangest things I've seen since my company was in deep woods SC...

Back then the guy from Chips (80s TV show) was in VOIP as well... I left the company but he was scheduled to come in and pitch. Or that was the rumor, not sure what happened.

 

[TundraOnKings]

We’re in the process of fixing ours up to sell right now. It was built in 1989, fully remodeled in 2008, but now needs another remodel. I’m going to offload it using my sister as an agent - she does the 1% family deal which is nice.
Biden wants to take $67K out of my profit if I don’t reinvest, so I’m looking at a newer, smaller, cheaper property. Most likely a condo so I don’t have to worry about tenants not taking care of the yard/exterior. And almost nearly no mortgage. So if a tenant Covid-screws me out of payments, it won’t be a problem covering the mortgage.

 

[Interceptor]

Last home I sold was over the telephone. Never have I been face to face with buyer. All email. We were from same community.

 

[dirtwarrior]

That is cool you did that

 

[Cobra Jet]

We’re in the process of fixing ours up to sell right now. It was built in 1989, fully remodeled in 2008, but now needs another remodel. I’m going to offload it using my sister as an agent - she does the 1% family deal which is nice.
Biden wants to take $67K out of my profit if I don’t reinvest, so I’m looking at a newer, smaller, cheaper property. Most likely a condo so I don’t have to worry about tenants not taking care of the yard/exterior. And almost nearly no mortgage. So if a tenant Covid-screws me out of payments, it won’t be a problem covering the mortgage.

Why is it that the Govt can take $ from a home sale if the seller isn't going to reinvest? Who paid all the bills and maintained it? Home owners already pay the Govt $$$ by way of Home Property taxes and income taxes (both where applicable) - let alone any other paid taxes on goods/tolls/you name it.

Explain why is there entitlement to a Home Owner's profit from the sale of their home if not reinvesting?

 

[HoosierDaddy]

Why is it that the Govt can take $ from a home sale if the seller isn't going to reinvest? Who paid all the bills and maintained it? Home owners already pay the Govt $$$ by way of Home Property taxes and income taxes (both where applicable) - let alone any other paid taxes on goods/tolls/you name it.

Explain why is there entitlement to a Home Owner's profit from the sale of their home if not reinvesting?

You don't have to buy new property with the proceeds to avoid taxes on the increased value. Just die right before selling.

 

[dirtwarrior]

You can make it appear you had a loss on every epence on the home

 

[TundraOnKings]

Why is it that the Govt can take $ from a home sale if the seller isn't going to reinvest? Who paid all the bills and maintained it? Home owners already pay the Govt $$$ by way of Home Property taxes and income taxes (both where applicable) - let alone any other paid taxes on goods/tolls/you name it.

Explain why is there entitlement to a Home Owner's profit from the sale of their home if not reinvesting?

Agreed my friend, agreed. We get taxed every which way we turn.

 

[TundraOnKings]

You can make it appear you had a loss on every epence on the home

The biggest expense is having to claim the rental payments as income. So we pay taxes on the rental income, then we pay taxes on the profit of the sale of the property. It’s bullshit.
I have to report the correct rental income as well, since it’s tracked by checks/deposits. I can write off repairs (hot water heater, garage door, etc) but last year I only had maybe $1,000 in repairs which isn’t anything.

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