Tuesday, December 25, 2012

buying a home....w/o realtor - Zillow Real Estate Advice

I did a quick check on California tax relative to properties and Prop 13. From the information posted here, it sounds like you could exclude the property from re-assessment (i.e., keep the cost basis and taxes that your grandmother has) if your husband's parents are deceased.

A REA may be familiar with the mechanics of a transaction, but this is not a "straight-forward sale" and you live in a state with some unique laws regarding property transfer and tax consequences. It may end up that you do a simple sale, for which you could negotiate?a simple fee for processing the transaction. However, don't start with a REA for information on how to procede - talk to a family law attorney first.

Source: http://www.zillow.com/advice-thread/buying-a-home-w-o-realtor/472054/

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