All Forum Posts by: Susan Rauch

I got the seller disclosure package and went to complete it,  through a package called "Glide".  The program helpfully suggested that in order to obtain excellent assistance in filling out the form, that I pay $100 for the "pro" package.  I declined and didn't have much trouble filling out the disclosure.  But my question is this.  If the brokerage (which markets itself as upscale) thinks this is a good program, and its worth $100 for "assistance", why on earth are they asking me to pay $100 when I'm paying nearly $80k in commissions?  I haven't mentioned this to my realtor yet but it really bugged me.  

 I did call the escrow agent yesterday and she confirmed that it was a mistake!  Makes me wonder if I hadn't asked, if they would have found it?!

We are currently in escrow on the sale of our home located in the unincorporated area of LA county. On the grant deed a “City Tax” of $6975 is indicated, then the line indicated “unincorporated area” is checked. Is this correct? Sale price of home is between 1.5 & 1.6 mil. I’ve tried to research how this “city tax” fee is calculated for LA county with no luck, and why do they charge a “city tax” when I don’t live in a city? Thanks for looking!

Hello! Would love any input or info. I inherited a SFR 10 years ago worth $700k. It has been rented since then. I've taken about $180k in depreciation over the years. The house is now worth 1.5 mil and my tenant plans to buy. It looks like state & fed taxes on the sale would be, rough estimate, more than 250k. So I'm researching 1031 exchange. Is the 700k (the value of the home when I inherited) treated the same as the "basis" (if I had purchased the home instead of inheriting it)? Do I have to do an exchange on the full sale price of 1.5m, or is the 700k (inheritance) treated differently? I hope this makes sense and isn't too stupid of a question. Second question. The house is in California, and the exchange will probably be in Fla. should I look for a QI in Fla or California?