1. Welcome! Please take a few seconds to create your free account to post threads, make some friends, remove a few ads while surfing and much more. ClutchFans has been bringing fans together to talk Houston Sports since 1996. Join us!

Selling a Rental Property - Tax Consequences

Discussion in 'BBS Hangout' started by ima_drummer2k, Mar 31, 2020.

  1. ima_drummer2k

    ima_drummer2k Member

    Joined:
    Oct 18, 2002
    Messages:
    36,842
    Likes Received:
    10,360
    Ah, didn't think about that.

    Closing was a new experience for me. It was scheduled for last Friday but the title company had a potential COVID case on a different floor of their building, so they shut the whole place down. I had a mobile notary come to my house on Thursday, signed all the paper work (not much since it was a cash buyer) and got the money wired to me on Friday. First time I've ever bought or sold a property without meeting my realtor in person or closing in person. Strange times.....

    Such a relief to not be a landlord anymore. Now getting ready to put our primary residence on the market....
     
  2. Exiled

    Exiled Member

    Joined:
    Dec 20, 2013
    Messages:
    5,252
    Likes Received:
    1,354
    This's what I ended up doing :
    • I chose 3 year variable flex 2.45%
    • options to top up 120% annually without penalty
    • can switch to fixed after a year
    • 70 months term
    This would enable me to make a bridge investment, build equity for near future and swap it for better option when convenient while avoiding tons of interest, I hope I'm not wrong bc it's too late now
     

Share This Page

  • About ClutchFans

    Since 1996, ClutchFans has been loud and proud covering the Houston Rockets, helping set an industry standard for team fan sites. The forums have been a home for Houston sports fans as well as basketball fanatics around the globe.

  • Support ClutchFans!

    If you find that ClutchFans is a valuable resource for you, please consider becoming a Supporting Member. Supporting Members can upload photos and attachments directly to their posts, customize their user title and more. Gold Supporters see zero ads!


    Upgrade Now