where is the lowest property tax in Ontario

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I have been approved for $40,000 line of credit and i have another $40,000 in the bank plus 2 other properties and a credit score of 680. i want to do a 5% down mortage and cover the closing costs, and leave the rest of my funds for rehabbing the house and about 6 months of mortgage payments. my question is i want to have the the $380,000 ($400,000 purchase price subtracted by $20,000 down payment) ready before i purchase the property for a quick closing. once again, my question was how can i have the money ready to purchase a house from the seller before the bank even gets to see the house? my goal is a quick closing...thanks

Why does the bank need to see the house? Get a pre-approval for the $380,000.00. Surely you knew you could do this. Your FICO should be higher for an ideal rate.

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I have been lucky enough to get an offer on my house but it is about 17% below the asking price, the property i want to buy is £380,000 and has been on the market since last july. should i make my on this one 17% less than the asking price.

" Closed mouth don't get fed " Facts are you can offer what you like, Obviously it would make sense to offer - 20% of the asking price. If it has been on the market since last july chance are the property is overpriced . so - 20% might be what it should be up for sale for. So maybe it should be a offer of - 25-30%. When you put the offer in, (providing you have your mortgage in place already ) Tell the estate agents to contact the seller and say " The buyer ( you ) is in a position to instruct a survey on the property and is looking for a quick deal. That will speed things quickly and this will make your offer appear more serious than others

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I have a 1099 a for rental house. box 2 $ 380,510. and box 4 270,000. how a report this amount? i have this property for rent since 02/15/2006. i need help, please

Gotta agree with the guy above. Also, if you own the property, where is this 1099 coming from? The tenants are going to send you one.

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Vacant rental property - my sf rental home in los angeles is currently vacant. i have been told that it is worth about $380,000. i owe about $75,000 on the first. i recently took out a helc, $180,000. i used about $35,000 to payoff some bills and to do some work on the property. my total indebtedness on this property is about $105,000. now that this house is vacant, i must pay about $1,080 per month to carry the property. my husband and i cannot afford to make this payment without the rental income. i am a stay at home mom. what should i do? would i be better off selling the property and reinvesting in multi-family property? a friend just purchased a duplex in ohio for $49,000 cash. his gross rental income is $900 per month. or should i refinance, taking some money out to invest in multi-family property. are there tax implications of not having interest payments to write-off? is it to my advantage to have free and clear property? thank you in advance for your help.

Suggestion is if you cant get someone in there than yes sell now. Los Angeles is a stable market and you should be able to get someone to purchase the home. Keep the property on the market until end of October latest. In meantime keep trying to get renters in there as short term. Since I dont know which area of LA you have the property I cannot tell you how to help advertise the property. Yet, I would suggest that since College is starting to try local Community colleges or Craigslist. Great thing is if you sell you have some great equity and you can purchase those foreclosure homes in your area that are popping up like hotcakes here in the next couple of months. Great flipping time.

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I am looking for a home owner insurance and getting a few quote from the agents. i would like to make sure that i have enough protection for my property. my understanding is that the dwelling amount is how much the replacement cost will be. i have a townhouse with market value about $380,000. from the property tax, the assessment for the house is about $250,000. the dwelling protection from the quotes i got vary from $ 220,000 to $385,000. i am getting confused about this. can someone tell me where i can find the replacement information and how much protection should i have? thanks so much!

Market value and assessment have NOTHING to do with replacement value. Your insurance company is the place for this info. It's up to you. You don't NEED replacement value.

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I always wanted to be a homeowner , but now i wonder what i have gotten myself into! my husband and myself own a home in california that is valued at about $ 450,000 thousand dollars and we owe $380,000. our monthly income is about $3500 dollars and our mortgage is $2500 not including taxes. we are cash strapped alot needless to say only a tiny bit of $ is going toward principal each month (if at all b/c we have a pick a payment loan) i am always thinking how much we could save every month if we sold our house and rented one in town. not only would we not have these huge property taxes but we could save at least a $1000 a month. then according to my thinking if in 5 years we wanted to purchase another home we could and would have a bigger down payment and if not we could continue renting and save for our future and have alittle wiggle room in our budget. my tax man says don't sell because you'll never be able to afford a house in this area again (not that we are affording it now!)

I know it is very tempting for me to say "it depends" and lay out all scenarios possible, but in your situation I would rather telling you my instinct. Sell it, and sell it quickly because the market is coming down in many places already. You might have to reduce the price, but if you are not will to, you would have to wait for at least a couple of more years before the market recovers. But then you would have paid much more interest and taxes and .... into the house, which, frankly you are not able to afford. Period, you really should not have drawn such a big loan. It is out of proportion compared to your income. Home ownership is supposed to be something that one takes pride in, AND feels happy about. If your finance is so tight, where is your happiness? Are you working for yourself or for the house? I always tell my friends and relatives, do not become the slave of your house. Everyone needs to have a COMPLETE life. You should have money set aside for emergency, for traveling, for your car, for your children if any, for movies and music, for eating-out, for jewery, for nice shoes and dresses, for electronics, for generosity, for partying, ....................... Get your happiness back. My morgage plus tax plus insurance plus utility is well under half of our household after-tax income, allowing us to have fun!!!

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I see alot of people on here looking for property in certain areas, so thought, maybe some one would be looking for a house also. it is new construction, 2910 sq ft, priced below current market value and below recent appraisal of 385,000. so if anyone is looking for that great deal with lots of amenities. such as membership to local recreation park and discounts to shawnee ski resort and water park. minutes to del water gap and easy access. custom built specific for builder. custom cherry cabinets with granite counter tops, polished limestone counter in all 3.5 baths. huge bonus room, jacuzzi in master bath. beautiful front porch with stunning views. huge garage, deck off the back of the house with a gas line for barbeque, gas fireplace and gas range. all stainless steal appliances. if bought directly from builder with no commission fees due, asking 380,000. or can be negotiated, all offers are considered. have pictures if anyone has an interest

How big is the lot?

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Home cost is $280,00, monthly expenses- utilities-$220., maint-$100., property tax-$380., home insurance-$50. 30-year mort-8% interest rate, 20% downpayment and closing costs equal to $1,000. plus 3 points. rent would be $1400./month plus $220. utilities and renters insurance $25/month. price of housing expected to rise 3%, util, taxes,ect raise 3% anually.

Rent. If you're going to relocate, try to find a cheaper place to rent and save the difference.