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Answers (5)
- sunnyview
- Contributions:25139
Hello. I just wanted to mention that Zillow generally asks folks to keep their site hotlinks and contact block out of posts in an effort to maximize information and reduce self promotion on the board. They have the policy posted here. You can always direct people to your profile page so people can learn more about your and your business. I think the profile pages are a great to showcase what you bring to the table as a professional. Zillow has a video to help you make the most out of your profile here. Hope the links are useful.
- Cheryl Supplee, "Pa Real Estate"
- Contributions:109
I would use the 401k for the purchase only. Any repair you make will most likely not give you much of a return if any return of the money that you put into it.
Cheryl Supplee
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Cheryl Supplee
[Content removed by moderator due to self-promotion]
- Call The Sisters, "Call The Sisters"
- Contributions:373
Definately contact your Tax Professional about the ups and down sides of using your 401 (k).
You said you wanted to use some of the 401 (k) for down money on the new house? By selling the house, would you also have money for the down payment? If so, talk to your Mortgage Professional on options that may be available to you say a Bridge Loan.
- Michael Emery, "MikeEmery"
- Contributions:7298
If you are younger than 59 1/2 and you withdraw from your 401k you may have to pay a 10 percent early distribution tax to the IRS to use that money. There are some exceptions, so contact a tax professional or the IRS in regards to your specific situation.
- BMFPitt
- Contributions:1207
Depends. Do you ever want to retire?
should i use 401k for downpayment of new house and for making repairs to old house to sell.
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