I'm moving out of state, I have great long term tenants (3 yrs) in it that I don't want to give up by selling just yet.
127854
As long as they are licensed Sales Agents or Brokers, They can be held accountable to the State Board for any misdoings if that is what your concern is. You are hiring this licensed professional to work for you. You as the boss make the rules of their employment.They, as the Employee, need to follow them. Ask for a copy of their license. (you can also ask for references for previous property management and find out if the former employer was satisfied with the work.)
101318
Live in the home for 2 years. You can also sell the home and buy another rental property. Its called a like exchange. Those are the only two Ways that you can get out of paying capital gains. If you don't want to do that make sure you add everything you have ever done to the rental property in the last 8 years to the basis of the house. (landscaping,repairs,trips to check on the property and to sell etc.)
189317
Unless the lease has a provision for cancellation upon sale to a new owner, the lease should remain in effect even through a sale. \n\nYou can always try to buy the current occupants out of their lease. Otherwise, there's probably not a legal way terminate the lease prior to the end of its term.\n\n(Another thing to consider -- does the tenant have an option to renew? They may be in there for more than 2 years.)
364415
It's usually a painfull process for most people, but I believe the standard coveyancing guidelines suggest a non-complex sale should take around eight weeks from offer acceptance to completion. Things to look out for are whether the property is freehold or leasehold. If it's leasehold (common in London flats) you won't actually own the property. Your money is buying a lease for however many years remain. If there are less than 70 years left on the lease, it can start affecting the value. You have a right as a leaseholder to extend it though, or even buy the freehold if certain conditions are met, but both of these options can cost a bit. Also if it's leasehold, you'll have to pay a annual management charge and ground rent to the managing agent (this can be the owner of the freehold) to cover maintenance of the shared parts of the building. Solicitor charges vary by property value and the firm you choose to use, but a good solicitor is worth paying a little more for. Recommendation is a good way to find a good solicitor. Be prepared to chase, chase and chase again to keep the momentum going throughout the process as conveyancing solicitors are reknown for taking their time.
363186
If you are a US resident, living and selling a property in the US, you have one year from the date of sale to buy another, more expensive property, to avoid capital gains taxes.
639154
You should keep your current home.  The continued payment history will help show potential lenders that you have re-established good payment habits.  Plus, if you sell and don't roll the proceeds into a new house within a reasonable time, you could be liable for capital gains tax on the sale.
656298
Tell your family to leave or have them evicted. Then lease purchase out your homes. You'll make more money than if you were to rent them out and you will get some non-refundable option fees. It's a win win situation, you get to sell your property for a little above fair market value, you don't have to pay agent fees, the tennants will pay their rent on time or they will lose their ability to purchase the property, and few other perks. The tennants will like it because they will eventually own a property with little money down for a little more than what they currently pay in rent. Any investor who takes your property will do the same. Your other option is to short sale the properties, but I would only do that if you can't lease purchase option them.\n\nBecareful of *investors* who purchase your property "subject to" existing liens and then collect rent for a few months and bail while letting the property go into foreclosure and you left holding the bag.\n\nRegards
405269
Try community banks. Any other type of financial institution would be willing to work with you esp. with the individual guarantees. Sounds like you should have no problem so long as the cash flow from rental income is sound.
229523
Nothing the owner has the right to sell her house whenever and to whomever she wants. If you didn't want to move before, why do you want to now? I would contact the current landlord and make sure that the terms of your current lease are still valid, and just continue on like before. Now if she is trying to change the terms and increase the rent then I could understand your having a problem, but as it stands why go through the expense of moving if you don't  have to. Now if she is suggesting you move for one reason or another then your lease can be considered broken and they would forfeit the right to any monies owed.
151186
What you are referring to is for primary residences after people have lived there for 2 years... This does not apply in you situation.\n\nWhat does apply is a procedure known as a 1031 exchange.  1031 exchanges allow you to totally defer your capital gains tax by reinvesting the proceeds of your sale into another 'like kind' property.  (like-kind refers to the other property being investment use as compared to personal use).\n\nI'm finishing up the testing on a 1031 exchange site.  The information is real, and many of the test properties are available listings as well.\n\nFeel free to check the site out for the basics on a 1031 exchange.
186609
We qualify people all the time with the old home "retained as a rental."  You can use market rent for your area to offset the mortgage on the existing home to keep your ratios down.  You are running the risk that you will end up responsible for two mortgage payments if you can't sell your current home quickly enough.  In my area, that's not a problem because the market is hot (that's why no seller will accept a buyer's offer if it's contingent on selling the current residence... there are so many buyers out there that they don't have to.)
345877
I believe you have nothing to feel guilt or pangs from concience over. Here in Ar I have known several people who have done similar  The family often can't sell the house before the patient in Nursing Home dies or they may forfiet the money to the state related to nursing home medicaid coverage on the patient. If your lawyer says its legal and you want to buy this home in the long run. I would go for it. After all if you decide later you can find better deal else where all your out is rent. \nGood luck.
224928
Some banks have inhouse appraisers and you might try that route if you are going to be moving.  There is more job security if you are just transferring from one bank to another.
562854
It's a good idea, simply because homes appreciate over time (maybe a lot of time, but they generally do).  \n\nYou have to take into consideration what the mortgage and taxes and insurance will cost you on a per month basis.  Then you have to figure out if you can rent it for that figure.  If you can, or can get more, is it worth the extra tax for the income?  If it's not, do you need the loss for your taxes?  \n\nRemember, when it's time to sell income property, you have to pay taxes on it unless you do a 1031 exchange, but that just means you're buying into another income property.  \n\nFinding good renters can be hard.  Can you pay for the house if it sits for a couple of months unrented?  Do you hav e the time to really check out a potential renter?  To be a landlord?\n\nThere are a lot of pros and cons.  If you have the time and the resources, by all means, hold on to it because real estate is a great thing to have.  But it's a lot of work too!\n\nGood luck  :)
494423
There should be no complications in selling your house to the tenants currently occupying the house. You are not required to tell the mortgage company if you move out and rent the house so just move ahead as if they lived elsewhere and it will work out no problem. Or at least no problem because of their current tenancy.
592706
thank about renting your house out........call a leasing company to manage the property.
202747
Most landlords make you sign at least a 1 year lease!!!!!\nI think you should transfer to your new house and rent out the old house until it sells.  Why would you want to pay someone else's house payment when you could use the old house as a mortgage and be a landlord yourself.  You can rent the old house for the monthly amount you are paying on it plus taxes/year and a little extra for repairs. (Collect first and last months rent putting it into a saving account to collect interest and to have to give back when they leave) It would help you build a better future for your family.  It's all in what you want to deal with.  GOOD LUCK!!!!!!!!!!