Register a SA Forums Account here!
JOINING THE SA FORUMS WILL REMOVE THIS BIG AD, THE ANNOYING UNDERLINED ADS, AND STUPID INTERSTITIAL ADS!!!

You can: log in, read the tech support FAQ, or request your lost password. This dumb message (and those ads) will appear on every screen until you register! Get rid of this crap by registering your own SA Forums Account and joining roughly 150,000 Goons, for the one-time price of $9.95! We charge money because it costs us money per month for bills, and since we don't believe in showing ads to our users, we try to make the money back through forum registrations.
 
  • Post
  • Reply
euphronius
Feb 18, 2009

Pittsburgh Fentanyl Cloud posted:

Closing on June 15, I’ll be a resident of one municipality Jan-June and another July - dec, that’s not really complicated.

what does your accountant say ?

Adbot
ADBOT LOVES YOU

Pittsburgh Fentanyl Cloud
Apr 7, 2003


Why would I hire an accountant to tell me how to file a change of address form and tell HR to withhold different taxes from my paycheck?

euphronius
Feb 18, 2009

have you never sold a house before

i say swears online
Mar 4, 2005

euphronius posted:

your accountant

????

Willa Rogers
Mar 11, 2005

euphronius posted:

did you figure out the income tax problems of selling the house after you bought another one

what problems?

if you're not getting more than a half-mil in profit per couple you don't pay taxes on it, lol.

Pittsburgh Fentanyl Cloud
Apr 7, 2003


euphronius posted:

have you never sold a house before

I'd be lucky to get $200K for my current place, I'm not selling a palace

efb

JAY ZERO SUM GAME
Oct 18, 2005

Walter.
I know you know how to do this.
Get up.


please get an attorney and talk to an accountant if you are engaged in the largest financial transaction of your life

euphronius
Feb 18, 2009

doesn’t need an attorney but probably an accountant

Pittsburgh Fentanyl Cloud
Apr 7, 2003


There aren't any tax implications involved besides the new place getting reassessed to purchase price and I already have a law guy at my wife's firm on the line if that happens to challenge the reassessment.

JAY ZERO SUM GAME
Oct 18, 2005

Walter.
I know you know how to do this.
Get up.


do people not use attorneys when buying property in the rest of the country???? the first thing i did in nyc was find a real estate attorney ffs

euphronius
Feb 18, 2009

the requirement for an attorney varies by jurisdiction and locality

in Pa they are mostly needed for the title insurance

Pittsburgh Fentanyl Cloud
Apr 7, 2003


no? No one's ever even suggested the idea of retaining an attorney when buying a house around here to me.

euphronius
Feb 18, 2009

attorneys in Pa can do closings (I did a few ) but it’s not required

Pittsburgh Fentanyl Cloud
Apr 7, 2003


now you made me paranoid so I'm gonna call an attorney, thanks a lot

Pittsburgh Fentanyl Cloud
Apr 7, 2003


cspam law guy drumming up business for the other law guys

i say swears online
Mar 4, 2005

Pittsburgh Fentanyl Cloud posted:

now you made me paranoid so I'm gonna call an attorney, thanks a lot

in texas it's pretty easy to get the appraisal district to appraise to your sale price for property tax purposes, as well as tons of agents that will do it for you much cheaper than an attorney

Pittsburgh Fentanyl Cloud
Apr 7, 2003


i say swears online posted:

in texas it's pretty easy to get the appraisal district to appraise to your sale price for property tax purposes, as well as tons of agents that will do it for you much cheaper than an attorney

Generally around here there are law firms that exist solely to challenge reassessments after sale, but tbh I've never heard of having an attorney go to closing with you.

Bastard Tetris
Apr 27, 2005

L-Shaped


Nap Ghost
only people in nyc get attorneys for real estate purposes, our buyers had one and everyone involved was thinking “who the gently caress brought lawyers lol”

euphronius
Feb 18, 2009

here pfc https://www.irs.gov/publications/p523#en_US_2022_publink100073070

JAY ZERO SUM GAME
Oct 18, 2005

Walter.
I know you know how to do this.
Get up.


i paid a guy $1200 flat to answer every legal question i had for over a year, look at every potential contract, take care of the closing, etc.

sure seems like a good idea versus reading the wikihow on buying a house or whatever idk

Pittsburgh Fentanyl Cloud
Apr 7, 2003



I meet all the requirements there and none of the exclusions apply to me, except possibly the part about being "mentally unable to care for yourself"

Nothus
Feb 22, 2001

Buglord
I entrust all my legal advice to ChatGPT, Esq

Pittsburgh Fentanyl Cloud
Apr 7, 2003


JAY ZERO SUM GAME posted:

i paid a guy $1200 flat to answer every legal question i had for over a year, look at every potential contract, take care of the closing, etc.

sure seems like a good idea versus reading the wikihow on buying a house or whatever idk

probably but this isn't NYC and the house I'm selling will be lucky to get $200K

Woodsy Owl
Oct 27, 2004
The All In One Loan Maximize Your Cashflow strategy is basically this:

Put all your savings and future paychecks into paying off the HELOC, and pay any expenses from the HELOC.

You pay off your house faster, but yeah no poo poo you pay off your house faster if you are pouring literally all your money into paying off its debt instead of having any savings.

They have a Simulator you can use to see if it would benefit you. But with my 2.875% 30yr fixed mortgage rate and their 8.54% rate, and my monthly income and expenses, it was pretty much break-even.

I don't see any benefit in it. You still have a 8.54% APR debt hanging over your head.


Edit: the benefit for this sketchy-rear end bank is that they make their nut in, for example, 9 years instead of 30 years like they would if they loaned traditional mortgages

Maybe this HELOC is for Christian anti-debt psychos.

Woodsy Owl has issued a correction as of 17:13 on May 18, 2023

i say swears online
Mar 4, 2005

Nothus posted:

I entrust all my legal advice to ChatGPT, Esq

quote:

When closing on a house in Pittsburgh, Pennsylvania, there are several important factors to keep in mind. Here are some key considerations:

Review the closing documents: Carefully review all the closing documents, including the settlement statement, loan documents, and title insurance policy. Ensure that the terms, conditions, and numbers align with your expectations and the agreed-upon terms of the purchase.

Obtain a title search and title insurance: Conduct a title search to identify any potential issues with the property's title, such as liens or outstanding claims. Purchasing title insurance will protect you from any undiscovered title defects that may arise in the future.

Secure homeowner's insurance: Prior to closing, obtain homeowner's insurance to protect your investment in case of unforeseen events or damage to the property. Lenders typically require proof of insurance before finalizing the loan.

Perform a final walkthrough: Schedule a final walkthrough of the property shortly before closing to ensure it is in the agreed-upon condition and any requested repairs have been completed.

Calculate closing costs: Understand the various closing costs involved, such as lender fees, appraisal fees, title fees, and attorney fees. Review the closing disclosure document provided by the lender to gain a clear understanding of these costs.

Coordinate with your lender: Stay in close communication with your lender throughout the closing process. Ensure that all necessary loan documentation and funds are ready for closing day.

Bring required documentation and funds: On the closing day, bring all necessary documentation, such as identification, proof of insurance, and any additional documents requested by your lender. You will also need to bring the funds required to cover your down payment, closing costs, and any other expenses.

Consider hiring a real estate attorney: While not mandatory in Pennsylvania, it can be beneficial to have a real estate attorney present during the closing process to ensure your interests are protected and to address any legal concerns that may arise.

Stay organized and ask questions: Keep track of all important documents, deadlines, and correspondence related to the closing. If you have any questions or concerns, don't hesitate to ask your real estate agent, lender, or attorney for clarification.

Remember that these guidelines provide a general overview, and it's always advisable to consult with professionals familiar with Pennsylvania and Pittsburgh-specific real estate practices to ensure a smooth closing process.

no! nooo!!

UKJeff
May 17, 2023

by vyelkin

Pittsburgh Fentanyl Cloud posted:

4% to 5.875%

and I'm selling the old place, I'd never be a landlord

Just joshing ya, congrats on the move

JAY ZERO SUM GAME posted:

do people not use attorneys when buying property in the rest of the country???? the first thing i did in nyc was find a real estate attorney ffs

Seriously, I’ve never heard of anyone buying/selling a house without an attorney. It’s like $500-600 here (they get paid by the title company too so it’s not very expensive for the client)

Personally I wouldn’t carry out a transaction involving hundreds of thousands of dollars without a legal expert to represent me in the matter. Real estate agents are mostly too dumb to be of much help

euphronius
Feb 18, 2009

that irs webpage is a good start but it does not mention the secret issues that are way costlier

i say swears online
Mar 4, 2005

euphronius posted:

that irs webpage is a good start but it does not mention the secret issues that are way costlier

professional gatekeeping smh

euphronius
Feb 18, 2009

the forbidden tax

Pittsburgh Fentanyl Cloud
Apr 7, 2003


hiring an attorney to represent me at the Costco check out counter and ensure all discounts are applied

Ammanas
Jul 17, 2005

Voltes V: "Laser swooooooooord!"
so im getting tiktoks about americans moving to europe due to more affordable housing than america and better quality of life, but the locals having problems affording housing in their own country due to gentrification, airbnb/speculation so they're moving to even poorer areas like latin america.

how is almost the entire loving planet having an acute shortage/affordability crisis and even strong social welfare states doing absolutely nothing about it? everyone is dicksucking FAILED neo liberal policies

Nothus
Feb 22, 2001

Buglord
lol at the amount of av money PFC's cspam livejournals drum up for Jeffery

Beached Whale
Jun 27, 2009

The world as will and idea
congrats on the move to beautiful Cranberry, Pennsylvania PFC!

euphronius
Feb 18, 2009

he’s close to sending his rats to private school

Beached Whale
Jun 27, 2009

The world as will and idea
central rat-lic

Nocturtle
Mar 17, 2007

My understanding is that you hire a real estate attorney to do due diligence and verify whether the various contracts and documents are in order, no surprise liens the owners didn't disclose etc. Is this not correct? Seems like a prudent thing to do if you want to buy property the rights to which you expect the white settler state to enforce through violence if necessary.

euphronius
Feb 18, 2009

in Pa the title insurance company hires that attorney

Bar Ran Dun
Jan 22, 2006




Pittsburgh Fentanyl Cloud posted:

now you made me paranoid so I'm gonna call an attorney, thanks a lot

if you want to be paranoid and not sleep look into what happens with incidents of wire fraud occurring related to the sale and purchase home.

Kibbles n Shits
Apr 8, 2006

burgerpug.png


Fun Shoe
Me watching my home's price on Zillow soar "gently caress yes, this rules"
Me reading the letter from my county's assessor "Wait what the gently caress"

Adbot
ADBOT LOVES YOU

Pepe Silvia Browne
Jan 1, 2007

JAY ZERO SUM GAME posted:

do people not use attorneys when buying property in the rest of the country???? the first thing i did in nyc was find a real estate attorney ffs

ny real estate is infinitely more complicated than every other state, basically every one i talked to in the buying process said this, our state is insane

  • 1
  • 2
  • 3
  • 4
  • 5
  • Post
  • Reply