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how do you take ownership as an investor in a short sale? Do you need homeowners insurance? what about cap ...?
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Miles 12:51 pm on August 29, 2010
homeinsurance.awardspace.us – try this one. Got my home insurance from them. As I know they provide such a service.
Othniel 12:51 pm on August 29, 2010
The $250k on exemption from capital gains tax applies only if the property was your primary home for two of the last five years. When you sell an investment property any amount that you earn over the basis is capital gains and will be taxed. Additionally when you own a property for a time then you have to pay "recapture" for depreciation taken or not taken.
If you are asking these kinds of questions on this forum you should consult with a tax ad visor or an experienced investor. There is nothing wrong with not knowing the answers but in things like this you need accurate, professional advice.