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When would I need to sell to avoid paying capital gains?

I lived in a condo from 2018-2023 but then moved out and have been using the property as a rental. How soon would I need to sell it to avoid paying the capital gains tax in Florida? The property is worth $160,000 currently, the property was put in my name by a relative that paid $90,000 for it.

7 Answers

How do you get rid of a musty smell in the house?

We have a 1938 two-story colonial cream city brick home. We bought the house over 35 years ago, but we cannot get rid of this “musty” pungent smell. It has permeated on our clothes and belongings and we take it with us everywhere we go. What can we do? We have tried several things over the years: pulling up carpeting, reinsulating the walls, checking plumbing, using air filters, etc. Nothing seems to work. What else can we do???

7 Answers

Can I get a renovation loan and home loan simultaneously?

Can I get a renovation loan and home loan at the same time? I'm interested in purchasing a house that also needs a lot of renovation. I don't have enough cash for the renovation. So I'm wondering if I can add to my home loan? Or do I take out a second loan? What's the best way to go about this? Thanks!

5 Answers

Am I locked into an agent if I sign a buyer's agreement?

I met with an agent who said I need to sign a contract with them before I see any houses. Does that mean I'm locked into working with them? I'd like to see a few houses before deciding if I want to work with them.

9 Answers

Can I buy a house and have someone else pay the mortgage?

I'm thinking of buying a house for an aging parent. If I put the loan in my name, could my parent pay the monthly mortgage or a portion of the income? I want to help my parent, but I don't want it to appear as income on my taxes or be penalized for trying to help.

10 Answers

Mutual release form verse putting back on market?

If the seller hasn't signed the mutual release form they agreed to can they put the house back on the market? Can we make another offer before this takes place? It's at a impass because they arent agreeing to the issues which are major issues on the inspection like 22 year old furnace not functioning correctly and needs replaced. Like floors not properly installed.

4 Answers

Can I not have home owners insurance?

I know it's risky to not have home insurance. But it's so expensive and often unused. It's a chance we're thinking of taking. But are we required to have home insurance or can we not have home owners insurance?

8 Answers

Can I change agents after I've made an offer on a home?

Can I change agents after I've made an offer on a home? My agent seemed eager to help me find a home to buy. Now that I've made the offer, he's radio silent. Or he'll call with last minute requests of items that are due immediately. With work and life obligations, sometimes I can't drop everything to do these urgent items. It seems like with better communication there wouldn't be this scramble. There's a few other issues too that have made this process frustrating. But since I've made the offer with him, do I need to keep him?

5 Answers

What Agent works with government programs ?

I'm a first time home buyer and I will be looking for a zero down and low/no interest government program and help with the closing costs.

7 Answers

Can I cancel listing agreement if I don’t want to sell?

we signed an agreement to sell, our rental property, with the understanding that the market would be such that there would be multiple competing offers and could be for above listing price. it has only been a few weeks, but we haven’t even gotten a offer for full listing price. So we would like to go back to just renting out the property. Can we cancel the listing agreement?

6 Answers