Sentences with phrase «fair market value of a house»

That's why the appraised value is similar to the fair market value of a house.

Here's what you need to know, as a home buyer: The assessed value is usually lower than the fair market value of a house (defined below).

But if you are responsible for paying the remaining balance, then the amount you realize is equal to the fair market value of the house when it's foreclosed on.

In addition, if the bank cancels your debt, meaning you no longer need to pay it back, then any amount in excess of the fair market value of the house is part of your ordinary taxable income.

Check out the fair market value of your house on Zillow.com.

During the same period, the fair market value of your house has increased to $ 300,000.

An Appraiser is hired by the lender to estimate the fair market value of the house you want to buy based on comparisons with other houses that sold recently in the same area.

The appeal court stated that in normal circumstances, the court would calculate a monetary judgment with reference to the mother - in - law's life expectancy when she moved in, and would multiply 29 % of the fair market value of the house at the date of trial by a fraction the denominator of which would be the number of years the children could have expected the mother - in - law to be in the house from the date when she moved in, and the numerator of which would be that number 9.

Here's what you need to know, as a home buyer: The assessed value is usually lower than the fair market value of a house (defined below).

I continued to educate the seller on the nature of the repairs (quite extensive) and the fair market value of the house.

Not exact matches

So that is a fair market value for the type of house I am seeking.

To help you appreciate how capital gains tax is calculated, consider this simple example: If you purchased the house as a rental property for $ 120,000 and in the year that both you and your wife died the home had a fair market value of $ 160,000, your estate would owe capital gains tax on $ 40,000.

For example, you could (1) keep the house or automobile and the debt (as long as you are current and continue keeping them current)(2) «redeem» the automobile (pay it off at it's current «fair market value») or (3) return the home or vehicle, and any balance due is included in your bankruptcy and the balance of the debt is wiped out.

Try not to fixate on the list price of a house, but rather the fair market value (an estimate of what a buyer would pay a seller for any piece of property).

So if you find a home worth $ 45,000 in the condition it's in, and needs $ 20,000 in repair work, and after it is repaired the current fair market value is worth $ 100,000, then typically they can lend you up to $ 70,000, which would cover the cost of the house and the repairs.

Most important, housing counselors say, is a rule that allows heirs to pay 95 percent of the current fair market value of the property — a price that is determined by an appraiser hired by the lenders.

The real estate agent should make it known that the sale of the home is contingent on both VA approval, and the house being sold at its current, fair market value.

Your house is appraised and has a fair market value of $ 125,000.

* Condo 2009 fair market value of $ 225,000 — 2002 purchase price of $ 200,000 = $ 25,000 → you owe tax on this capital gain * $ 25,000 divided by 2 = $ 12,500 → the capital gain you will be taxed on * $ 12,500 x marginal tax rate (we assume 30 %) = $ 3,750 * Then you'd need to add in the tax owed on your house: The house fair market value in 2015 of $ 620,000 — appraisal value in 2010 of $ 550,000 = $ 70,000 → you owe tax on this capital gain (as your condo, not your house was your primary residence) * $ 70,000 divided by 2 = $ 35,000 x marginal tax rate of 30 % = $ 10,500 * The 2001 to 2009 appreciation of $ 300,000 would be sheltered as the house was your primary residence during those years.

Housing values in the Royal LePage House Price Survey are Royal LePage opinions of fair market value in each location, based on local data and market knowledge provided by Royal LePage residential real estate experts.

For example, suppose that the house had a fair market value of $ 100,000 that was increasing at a rate of $ 1,000 per year, and the original loan amount was $ 80,000.

These two recent decisions provide useful information to in - house counsel about how to control which shareholders are entitled to dissent, and how to estimate and negotiate the fair market value of any dissenters» shares, and so to control the cost of those dissent rights to their company.

Banks don't always have in - house professionals capable of appraising the fair market value of your property.

Back to definition of fair market value: A house is only and forever worth — what a buyer (any buyer) is prepared to pay — provided the seller is willing to accept the price — and the property has been adequately exposed to the marketplace (and we could add and has no untoward situations associated with it), when neither the buyer nor the seller is under distress.

My house is on 5 acres, so I can split a small part of my lot, build a new home & get fair market value for 2 homes rather than 1, right?

As Sean mentions the competition these days at court house steps is intense and if a property goes 3P that means it had some equity and there would be multiple investors tracking it (of course there is always the home owner buying it back and will pay more than an investor or someone who actually wants to move in and will pay right up to fair market value for it)..

So whenever a buyer sees a price, they immediately start estimating the seller's bottom line price and if it's close enough to the buyer's idea of fair market value for the house, they might make an offer.

Besides providing you with a comparative market analysis, an in - depth look at house values, a rock star agent «knows the current condition of the market and what is a fair price,» says Phillia Kim Downs, a New York, NY, agent.

Comments Off on Florida Deficiency Judgment Overturned by Florida Court: Bank Loses Deficiency Because it Fails to Provide Valid Evidence of Fair Market Value Tags: Deficiency Judgments, Foreclosure defense attorney, Foreclosure Settlement, House foreclosure, Mortgage foreclosure, Property foreclosure, Short Sale Counseling, Short Sales

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So that is a fair market value for the type of house I am seeking.

First, get a detailed comparative market analysis (CMA) of your house to determine its fair market value.

The basis for depreciation on the house is the fair market value on the date of the change ($ 147,000), because it is less than your adjusted basis ($ 164,000).

If you want to price the house several percentage points north of fair market value, many agents will walk away for fear of taking on an overpriced listing that won't sell, or at least won't sell during the time they're the listing agent.

If you don't want to hassle with trying to come up with a home value yourself... give us a call at [phone] and we'll give you an honest fair valuation of what your house is worth on the retail market (if you're going to wait the 3 - 6 + months to find the perfect retail buyer).

BMO alleges that 14 «groups» of individuals either bought or optioned houses at fair market value, then arranged for «straw buyers» to purchase them at higher prices through a BMO mortgage.

You can retire comfortably in 10 years with 10 + free - and - clear rental homes when you approach this business with a sensible plan of buying houses at 10 % below fair market value with 10 % down payment and 10 % + yield on your investment (the author's 10/10/10 plan), and wisely reinvesting cash flow, equity gains, and selling the loser houses to pay off the debt of the winners.

Market value appreciation: The fair market value of your home may rise because similar houses in your area are now selling for more Market value appreciation: The fair market value of your home may rise because similar houses in your area are now selling for more market value of your home may rise because similar houses in your area are now selling for more money.