Apartments for Low Income

Questions and Answers

Your Questions About Duplex Homes For Sale

May 21, 2012

Maria asks…

What is a good website to search for homes for sale?

I am particularly interested in purchasing a duplex or triplex. Thanks in advance for your help!

Administrator answers:

Www.remax.com will have all the homes for sale in any area, by any listing co.
This should be more than enough help for you. You could also find yourself a great buyers agent in the areas you are looking. Then they can do all this work for you. Remember, you do not pay the buyers agent, the seller does. Good luck.
RE Agent,
Remax

Charles asks…

where can i look online to find Rental homes/duplexes?

When i look up local realtor sites they only have homes for sale? Know any sites that list rentals? THank you

Administrator answers:

Rent.net and apartments.com Another good way of finding some is to check with a college or university that is nearby. They usually have listings for home rentals (long and short term) under off-campus housing.

Lizzie asks…

Want to sell duplex in florida, but tenant is giving me a hard time. What can I do?

I have a duplex that I would like to put up for sale in Florida, but my tenant on one side of the duplex is giving me a hard time. She signed a lease in February of 2007 and was told prior to signing that we would be selling the house within the next year, which she was fine with. Last week we told her we wanted to put the house on the market, and she flipped out on us. Her friend is a realtor (an obnoxious loud mouthed one), and told her that she can break her lease and move out as soon as I put the house on the market. The lease really doesn’t have any specific clauses in relation to a home sale nor can I find it in the state senate statutes.

So my question is…is the tenant allowed to break her lease and move out? I do not want her to move out as it is easier to sell a tenant occupied house. I’ve already told her that we want her to stay and that we would see to it that a new owner would have to honor her lease.

Any info or websites would be appreciated….thanks!

Administrator answers:

It would be a lot easier question to answer if I could read the lease. Generally, don’t believe any legal advice you hear from real estate agents and brokers. They are not attorneys. Your tenant’s agent is giving her bad advice.

A landlord selling the unit is not grounds for a tenant to break the lease, generally. That may be change based upon the terms of the lease. Additionally, the new landlord cannot evict the tenant without conforming to either the requirements in the lease or the requirements of the Chapter 83, part II, Florida Statutes.

If she breaks her lease and moves out, then you can sue her for lost rents and damages. Make sure you follow all the notice requirements in the statutes about keeping the deposit. You cannot force her to stay int he apartment; she has the right to leave. However, if she breaks the lease, you can recover damages from her.

Mandy asks…

SHORT sale, 2 questions…?

We live in Tampa Bay,Fl.
#1. My father-in-law put in an offer for a short sale duplex about 2 months ago. He talks to his realtor weekly and she says still nothing. I know that this type of sale can take a while, but it seems like the realtor is slacking and something should have happened by now.

#2. My husband and I are looking to purchase a short sale home sometime within the next month or two. My father in law is going to lend us $100,000 to put down towards a home. The homes we are looking at are about $130,000. My question is, we’re going to have to borrow $30,000 from the bank, but is it possible to borrow $50,000 so we can have an extra $20,000 for home improvements?
THANKS!
Also, how do i find a short sale expert in my area?

Administrator answers:

Remember FAnnie may and the huge real estate market debacle?

ALL loans that are to be resold [those that are not from private investors
or lenders] are in TEMPORARY turmoil.

Make sure your agent is a BUYER”S agent and do not accept
DUAL AGENCY. AND Never use the seller’s agent under any circumstances.

YOUR loan could be done this week or in January; again,
it is not the agents THIS Time, it is the industry.

Sandra asks…

How does capital gains tax work on rental home sales? What is the percent in FL state?

we own a duplex in Fl.we lived in one half for 6 years then turned both sides into rentals. We now need to sell to stave off bankruptcy. How do we calculate the capital gains tax?

Administrator answers:

You don’t. You take it to a professional.

This is a rather complex situation dealing with adjusted basis, capital gains and depreciation recapture and the capital gains are taxed at a different rate than the depreciation recapture.

This is not something that you want to try on your own.

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