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Trinidad Gaeta's Advice

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  • 99 Contributions
  • 1 Best Answers
  • 16 Helpful

Trinidad Gaeta wrote:

I have a rental property with a significant amount of equity. What is my capital gain tax?

Answer
I would consult your accountant before making the decision to sell which is of course when capital gains comes into play. Another thing to consider would be re-investing the proceeds and rolling them over into another investment property via a 1031 exchange to avoid the gains, unless you are just looking to cash out. 
July 18
(0)

Regular sale getting the most money?

Answer
We realtors normally use standard sales when available when determining value on standard sale listings. When the inventory is not there, we use the foreclosure or short sale comps and make adjustments to determine final suggested value.
March 28
(0)

Do I talk to a realtor or my mortgage lender first about selling my current home and buying another?

Answer
 Although you are not ready to make a move till Summer of 2014, it is a good idea to have a conversation with both your Lender and a Realtor. Getting some early tips in preparing for sale could only help at this point. The market is always changing and having the correct information in regards to market trends will help you make the best decisions for you and your family. Regard, Trinidad 
October 28 2013
(0)

Am I still obliged to sell if escrow closing date passed without closing ?

Answer
Although you are selling "as is", you are still obligated to disclose property condition. You may want to express your concern with your agent in writing and let him know you want a written response from buyer as to the items you are disclosing to protect yourself. In regards to extension, I would also have agent submit a notice to perform on your behalf to the buyer and wait for a response. Instead of waiting and starting from scratch with another buyer, assuming you are still interested in selling, you might consider granting an extension either free of charge or add a daily perdium of some kind. Hope that helps. Good luck. Trinidad.
October 05 2013
(1)

How to get into another home

Response
Have you considered renting your property and soliciting the help of a family member to qualify to buy another home? A short sale is designed for a family facing financial challenges that threatens their ability to sustain their mortgage payments. Simply outgrowing your home due to growing family isn't a hardship in the eyes for the lender. Simply stop making payments does not guarantee you short sale approval and it's not recommended. Cash for keys is normally the result of a foreclosure and lender interest in receiving possession of property without any damage to it. In both cases, a hit on your credit score goes without saying. Talk to a local Realtor/Accountant about your best course of action. Good luck and congratulations on your growing family. Trinidad 
September 27 2013
(0)

Thinking about selling property

Answer
Oakland, Unless specified in the lease agreement that he is to move out with a 60 day notice, tenant is not obligated to move as he is in compliance with lease agreement. Make sure you're agreement is very clear in your intention otherwise you will have to market property with tenant lease in place. Hope that helps. 
September 03 2013
(0)

what to do if i have no permits for an addition?

Answer
I completely agree with Bill. The questing is going to be if the addition was done to code or not? There will be some cost associated with getting permits after the fact and steps required but it is possible.Unfortunately, if you do not have the necessary permits, when appraising your property, an appraiser cannot take into consideration any part of the house that is not properly permitted. Definitely something worth looking into. Hope that helps!  
June 12 2013
(0)

I live in Yorba Linda, CA. Why are your property value rates so much lower than market rates...I hav

Answer
Dear Yorba Linda,The value of your property is constantly changing and depending on your interest of said value; refinance, sell, curious...the value might very slightly.  The best way to determine the value at any given time is to pay for a professional appraisal. This will satisfy a curiosity and will also let you know where you stand should you be considering refinancing or selling. Zillow's values are opinions based of a series of matrix used. I believe in the fine print somewhere they do advise to seek professional advise as their values could be off by a certain percentage. Hope that helps. Trinidad
May 06 2013
(0)

Is it worth updating kitchen, flooring and paint throughout house before putting on market?

Answer
The California Association of Realtor Remodeling Magazine just put out this page that might be of help.  Hope that helps! 
March 13 2013
(0)

How do I find out what my home is worth?

Answer
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December 05 2012
(0)