DFD

We have a car thread, why not a house thread...

I'll start, currently working on Bag End 2.0. Going to be interesting...

For those new to the thread, basically going to try to on a house that requires some expert level pinshitting in a area that we can't otherwise "afford" five streets up from the Bag End 1.0 (BE 1.0). Lower property taxes, better services, nicer houses, all the good stuff.

Have significant "profit" in BE 1.0, but we're not selling unless we can to the new house.

https://www.zillow.com/homedetails/46-C ... 2581_zpid/

List: $425k
Offer: $405k

Considered a "low ball" and the listing agent doesn't like our lender and doesn't want to present the offer to his clients.

So offer not being presented because dillerman games? This happened to me years ago. House still sold for asking.

If it's really great maybe throw an extra few Gs at it?

Tarspin wrote: ↑Tue Jul 03, 2018 1:48 pm So offer not being presented because dillerman games? This happened to me years ago. House still sold for asking.

If it's really great maybe throw an extra few Gs at it?

Yep, games. Claims he's had bad experiences with the lender and refuses to work with them. Meanwhile, I'm personal friends with my mortgage banker and my sister works for the company, so we're a bit VIP status.

We're getting multiple $k off closing costs with this lender. If they want us to switch, offer goes down.

This thing might be done before it's even begun.

Detroit wrote: ↑Tue Jul 03, 2018 1:47 pm

Considered a "low ball" and the listing agent doesn't like our lender and doesn't want to present the offer to his clients.

agent games....

Thats REAL strong offer..

So much money. Not a bad house.

Detroit wrote: ↑Tue Jul 03, 2018 1:41 pm I'll start, currently working on Bag End 2.0. Going to be interesting...

I dont think this member base placs houses as often as cars. Might be slow updates.

dubshow wrote: ↑Tue Jul 03, 2018 1:59 pm

Detroit wrote: ↑Tue Jul 03, 2018 1:47 pm

Considered a "low ball" and the listing agent doesn't like our lender and doesn't want to present the offer to his clients.

agent games....

Thats REAL strong offer..

So much money. Not a bad house.

House was listed for 500k just before thanksgiving, which fucked it. Not to mention, the inside is terrible from a cosmetic standpoint. But, roof new in the last 5 years, furnace replaced this year, electrical updated last year before sail, copper plumbing throughout. Most houses in this hood start at 500.

BUT, the listing agent claims the sellers are stuck on the original 500 list price and struggled to come down to the current $425. We've been warned that $405 will be considered a lowball. And now this lender

Quite an experience to say the least.

On the flip side you are in a 5/7 area already. No flipping costs mean orange C7 in bag end next spring!

Detroit wrote: ↑Tue Jul 03, 2018 1:47 pm For those new to the thread, basically going to try to on a house that requires some expert level pinshitting in a area that we can't otherwise "afford" five streets up from the Bag End 1.0 (BE 1.0). Lower property taxes, better services, nicer houses, all the good stuff.

Have significant "profit" in BE 1.0, but we're not selling unless we can to the new house.

https://www.zillow.com/homedetails/46-C ... 2581_zpid/

List: $425k
Offer: $405k

Considered a "low ball" and the listing agent doesn't like our lender and doesn't want to present the offer to his clients.

Why not? Is your lender a drug cartel?

Detroit wrote: ↑Tue Jul 03, 2018 1:47 pm For those new to the thread, basically going to try to on a house that requires some expert level pinshitting in a area that we can't otherwise "afford" five streets up from the Bag End 1.0 (BE 1.0). Lower property taxes, better services, nicer houses, all the good stuff.

Have significant "profit" in BE 1.0, but we're not selling unless we can to the new house.

https://www.zillow.com/homedetails/46-C ... 2581_zpid/

List: $425k
Offer: $405k

Considered a "low ball" and the listing agent doesn't like our lender and doesn't want to present the offer to his clients.

Also don't forget that your "Profit" is taxable...

Detroit wrote: ↑Tue Jul 03, 2018 1:54 pm

Tarspin wrote: ↑Tue Jul 03, 2018 1:48 pm So offer not being presented because dillerman games? This happened to me years ago. House still sold for asking.

If it's really great maybe throw an extra few Gs at it?

Yep, games. Claims he's had bad experiences with the lender and refuses to work with them. Meanwhile, I'm personal friends with my mortgage banker and my sister works for the company, so we're a bit VIP status.

We're getting multiple $k off closing costs with this lender. If they want us to switch, offer goes down.

This thing might be done before it's even begun.

So basically this is a Zhukov car buy thread. Here's my lowball offer, I hope you're being deported in a month and have to take it or you'll get nothing. We're here to rape and pillage the land. Fuck the rest.

Tarspin wrote: ↑Tue Jul 03, 2018 2:08 pm

On the flip side you are in a 5/7 area already. No flipping costs mean orange C7 in bag end next spring!

Yea, we don't have to move, so I'm really about it all.

max225 wrote: ↑Tue Jul 03, 2018 2:12 pm

Detroit wrote: ↑Tue Jul 03, 2018 1:47 pm For those new to the thread, basically going to try to on a house that requires some expert level pinshitting in a area that we can't otherwise "afford" five streets up from the Bag End 1.0 (BE 1.0). Lower property taxes, better services, nicer houses, all the good stuff.

Have significant "profit" in BE 1.0, but we're not selling unless we can to the new house.

https://www.zillow.com/homedetails/46-C ... 2581_zpid/

List: $425k
Offer: $405k

Considered a "low ball" and the listing agent doesn't like our lender and doesn't want to present the offer to his clients.

Also don't forget that your "Profit" is taxable...

Haven't they been living in it long enough that it won't be taxable? I got fucked on that when I sold my house since I rented it for the last 3 years of ownership.

Desertbreh wrote: ↑Tue Jul 03, 2018 2:09 pm

Detroit wrote: ↑Tue Jul 03, 2018 1:47 pm For those new to the thread, basically going to try to on a house that requires some expert level pinshitting in a area that we can't otherwise "afford" five streets up from the Bag End 1.0 (BE 1.0). Lower property taxes, better services, nicer houses, all the good stuff.

Have significant "profit" in BE 1.0, but we're not selling unless we can to the new house.

https://www.zillow.com/homedetails/46-C ... 2581_zpid/

List: $425k
Offer: $405k

Considered a "low ball" and the listing agent doesn't like our lender and doesn't want to present the offer to his clients.

Why not? Is your lender a drug cartel?

SAWCE wrote: ↑Tue Jul 03, 2018 2:15 pm

max225 wrote: ↑Tue Jul 03, 2018 2:12 pm
Also don't forget that your "Profit" is taxable...

Haven't they been living in it long enough that it won't be taxable? I got fucked on that when I sold my house since I rented it for the last 3 years of ownership.

It is always taxable... any home "gainz" minus your bi-annual exemption... which may or may not have been "used up"

max225 wrote: ↑Tue Jul 03, 2018 2:12 pm

Detroit wrote: ↑Tue Jul 03, 2018 1:47 pm For those new to the thread, basically going to try to on a house that requires some expert level pinshitting in a area that we can't otherwise "afford" five streets up from the Bag End 1.0 (BE 1.0). Lower property taxes, better services, nicer houses, all the good stuff.

Have significant "profit" in BE 1.0, but we're not selling unless we can to the new house.

https://www.zillow.com/homedetails/46-C ... 2581_zpid/

List: $425k
Offer: $405k

Considered a "low ball" and the listing agent doesn't like our lender and doesn't want to present the offer to his clients.

Also don't forget that your "Profit" is taxable...

We've lived there for over 2 years, capital gainz doesn't apply to primary residences when you've lived at it for longer than 2 years.

Unless changed that? I should do some homework.

max225 wrote: ↑Tue Jul 03, 2018 2:17 pm

SAWCE wrote: ↑Tue Jul 03, 2018 2:15 pm

Haven't they been living in it long enough that it won't be taxable? I got fucked on that when I sold my house since I rented it for the last 3 years of ownership.

It is always taxable... any home "gainz" minus your one time lifetime exemption... which may or may not have been "used up"

Desertbreh wrote: ↑Tue Jul 03, 2018 2:13 pm

Detroit wrote: ↑Tue Jul 03, 2018 1:54 pm Yep, games. Claims he's had bad experiences with the lender and refuses to work with them. Meanwhile, I'm personal friends with my mortgage banker and my sister works for the company, so we're a bit VIP status.

We're getting multiple $k off closing costs with this lender. If they want us to switch, offer goes down.

This thing might be done before it's even begun.

So basically this is a Zhukov car buy thread. Here's my lowball offer, I hope you're being deported in a month and have to take it or you'll get nothing. We're here to rape and pillage the land. Fuck the rest.

Kind of. Don't need to move, just considering it for epic

Detroit wrote: ↑Tue Jul 03, 2018 2:17 pm

max225 wrote: ↑Tue Jul 03, 2018 2:12 pm
Also don't forget that your "Profit" is taxable...

We've lived there for over 2 years, capital gainz doesn't apply to primary residences when you've lived at it for longer than 2 years.

Unless changed that? I should do some homework.

The other major restriction is that you can only benefit from this exemption once every two years. Therefore, if you have two homes and lived in both for at least two of the last five years, you won't be able to sell both of them tax free.

You should be good to

max225 wrote: ↑Tue Jul 03, 2018 2:19 pm

Detroit wrote: ↑Tue Jul 03, 2018 2:17 pm
We've lived there for over 2 years, capital gainz doesn't apply to primary residences when you've lived at it for longer than 2 years.

Unless changed that? I should do some homework.

The other major restriction is that you can only benefit from this exemption once every two years. Therefore, if you have two homes and lived in both for at least two of the last five years, you won't be able to sell both of them tax free.

You should be good to

Yep. Only own one home. Primary residence. Lived there 3 years...almost to the day. Close on the house July 16, 2015.

max225 wrote: ↑Tue Jul 03, 2018 2:17 pm

SAWCE wrote: ↑Tue Jul 03, 2018 2:15 pm

Haven't they been living in it long enough that it won't be taxable? I got fucked on that when I sold my house since I rented it for the last 3 years of ownership.

It is always taxable... any home "gainz" minus your bi-annual exemption... which may or may not have been "used up"

Not if primary residence for 3 years and not if you make OVER $250k or $500k for married... I dont see anyone of us plebs making $250k from a "flip"

When you sell your home, the capital gains on the sale are exempt from capital gains tax. Based on the Taxpayer Relief Act of 1997, if you are single, you will pay no capital gains tax on the first $250,000 you make when you sell your home. Married couples enjoy a $500,000 exemption.

dubshow wrote: ↑Tue Jul 03, 2018 2:26 pm

max225 wrote: ↑Tue Jul 03, 2018 2:17 pm

It is always taxable... any home "gainz" minus your bi-annual exemption... which may or may not have been "used up"

Not if primary residence for 3 years and not if you make OVER $250k or $500k for married... I dont see anyone of us plebs making $250k from a "flip"

When you sell your home, the capital gains on the sale are exempt from capital gains tax. Based on the Taxpayer Relief Act of 1997, if you are single, you will pay no capital gains tax on the first $250,000 you make when you sell your home. Married couples enjoy a $500,000 exemption.

My dad is in this situation... once they decide to sell the house it is a 1.5Million "income"

We could be looking at $100-$150k over what we purchased it at.

We have put $80k into it,