How should i persue this...
Hello everyone.
I'll try to make this simple and easy in hopes to getting an easy response. I just started real estate and I have this client who wants to sell her home in California. She bought the house 12 years ago with her father who passed away 2 years ago and I know he was never taken off title (joint tenants) as of today. The daughter wants to sell the house but she is debating on refinancing first. The value of the house is around $570,000 and she owes 125,000. She has a nice chunck of change in equity.
Now is it better for her to refi or to sell it straight up?
I know she will have to pay for the refi but will she be avoiding capital gain taxes?
what would be the best rought for her in order to save money in taxes and all.
she wants to sell in january and buy in Texas.
Thanks everyone