2006-12-31 10:17:19 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Not sure what you are trying to say.
If you have cash in your bank account, you can use it for a down payment. It doesn't matter if it comes from a sale of a house or not... as long as it's legal. Just be careful with gifted money from family as it will be treated differently.
If this is a rental property, do your research on a 1031 exchange. This is very important for investors to defer taxes!
Good luck.
2006-12-31 10:22:14 · answer #1 · answered by MovetoLatinAmerica 3 · 0⤊ 0⤋
If you sell your house, you can use the money for anything you want. People sell houses every day and use the money for a down payment. You can only sell the house for what it's fair market value is though and you might want to keep in mind that you will have to pay capital gain taxes on the difference between your sale price and what you originally paid for it, so you might want to talk to an accountant about how much you should hold out of your sale for taxes. Good luck to you. I hope this helps.
2006-12-31 18:22:53 · answer #2 · answered by Laura 5 · 0⤊ 0⤋
Absolutely, but why not put that money in your pocket or retirement account and use the bank's money for your investment property?
2007-01-01 12:52:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I dont get what your asking, but if you use %25 then you'll have $150,000 left.
2006-12-31 18:25:45 · answer #4 · answered by Anonymous · 0⤊ 0⤋