Sale

What is the difference between sale and offer?
Q. Is there any difference between regular sale in a store and their offer? I got this coupon which says it may not be combined with other offers, it doesn't say if it's in a sale items or only on the regular priced items. But this company is refusing to let me use it's coupon on the items that are on sale. I kinda got surprised. Isn't it bait and switch thing? If somebody sues them, is there any chance of winning the case?
Asked by Naive T - Sat Oct 13 18:48:02 2007 - - 2 Answers - 0 Comments

A. Usually a store has promotions. That is a sale or a special offer. Now if you use the sale or promotional offer for one product, you cannot use another promotion or offer for the same product. That would mean that you can get the product for next to nothing, and they won't make any money. The store get the product at a certain price, and if they sell it for less than they bought it, they are making a loss. As business is about making money, that just wouldn't work. And as they have stated "not to be used with other offers" (meaning another promotional offer or sales special) they are legally covered, and do not have to let you use both offers on the same product, which means you can't take them to court. I hope this helps
Answered by success4hannah - Sat Oct 13 21:09:39 2007

How do I report sale of an inherited home on my taxes?
Q. I have a capital loss of $3000 per schedule d (actual loss of $3383), but since it was personal property, my loss is non-deductible. I have to file schedule d in order to report the sale of the home, but what do I do with the losses. Schedule D says to record the $3000 on line 13 of 1040. Please help.
Asked by rap2i - Sun Jan 24 13:20:58 2010 - - 3 Answers - 0 Comments

A. Did you actually LIVE in the house? Or did you inherit it and then simply sell it? If the estate sold an empty house, the estate lists it on a 1041 schedule D and passes the loss through tot he beneficiaries on k-1s. If you inherited the house and sold it without ever living it it, you put it on your 1040, schedule D and you do get to claim the loss. It's actually considered a long term investment. (You list the date purchased as "inherited.") If the loss is more than $3000, you take $3000 this year and carry the rest forward.
Answered by the tax lady - Sun Jan 24 15:26:12 2010

How does a short sale work with an interest only loan?
Q. We are thinking of looking into doing a short sale. I know we need to talk to the mortgage company about this but just wondering, how does it work with interst only loans? Our 1st mortgage is at $284,000 and a HELOC at $55,000. Zillow shows the house valued at about $339,000. We are currently making monthly payments but we are currently about a month & a half behind (on the 1st mortgage) and working with the mortgage company to get caught up but our payments are too high and will continue to be a struggle so we would like to get out of the house and possibly get into a rental & possibly buy again in a few years. Thanks for all your input. My next question is, who do I talk to first about this? Do I tell my mortgage company we are… [cont.]
Asked by Lisa H - Sat Aug 18 14:55:23 2007 - - 7 Answers - 1 Comments

A. Hi, I am a licensed real estate broker in Southern California and I help people in your shoes on a daily basis. The type of loan does not matter when it comes to a short sale. This is how it basically works: 1. Find out the true value of your home (not from Zillow, but from a professional licensed real estate agent or appraiser). 2. You list the home and find a buyer. Try to find an agent that is experienced and knowledgeable in short sales. A rookie will miss this up. 3. If you accept the offer, then your agent (or your agent's escrow/title company) will provide a estimated HUD-1. The HUD-1 is basically an expense report and payoff report showing what the expenses are (real estate commissions, taxes, HOAs, etc.) and how much the 1st… [cont.]
Answered by satarnag - Sat Aug 18 16:28:08 2007