What are the 4 differnt types of credit that I need to establish before purchasing a piece of land?

I understand that I need to have a good credit rating.

Lets say, I have a credit score of 780 i'm 22 years old with $15,000.00 in the bank. I'm trying to purchase land for $55,000.00.....

But right now I'm actually 19 years old > with two credit cards open. I've paid the balances of both cards in "full" or Paid more than the min balance each month...

"WHAT are the four different types of credit that I need the bank to look back on when I purchase property?

Like a "Auto loan"-what?>

So what type of loan should I take out to build more credit if I don't need a car?...

any ideas would be appreciated!!!

Thanks

Greg

Some interesting answers here. However, your credit score is based on several factors. So doing one specific thing will not give you(or take away) a set amount of points.

One factor in all types of credit is that you need to make sure you make payments on-time everytime. Every 30,60,90 day late will lower your score.

As for types of credit, it is good to have a mix. However, usually a few credit cards and installment loans will be good. As long as you show good credit management. Do not expect to be at a 780 by the time you are 22. It takes years to build a great history, but only a few bad marks to create a bad history.

For credit cards the major factor is your credit utilization. The best scores will be when you are at 30% or lower utilization. That is your total credit used compared to your total limits. So if you have $2,000 in total credit you should not have used more than $600. The farther you go above the 30% the more it will start to harm your score. The best way to do this is to use them every month(up to the 30%) on purchases you would pay cash for anyways. Then at the end of the month just pay off the balance. This will also show activity which helps your score.

For installment loans, a car or house loan is the most common types. However, you can also go for a personal loan from your bank. Here you put money into a savings account and then take a loan against it. Deposit the loan money into another bank to earn interest. You then use that money to pay back the loan. If you do this a few times in the next few years it will look very good.

You can read a lot on how scores are calculated by going to http://www.myfico.com . This is the company that does the FICO Score which is the most widly used scoring system today.

There is no magical number of items of credit that you need to have to obtain a loan on this land in a few years. Ideally you want to have a good mixture of credit such as 2 credit cards, 1 auto loan and 1 mortgage loan. However, if you only have 2 credit cards that is still very good. Most lenders do want to see 3 different tradelines on your credit report so you may want to get one more. Anything that you do for your 3rd tradeline will be fine, whether it is a personal loan, another credit card, a student loan, etc... Just make sure you keep your payments all on time, never borrow over 50% of your credit card limits, don't go out and get 10 credit cards and no other credit, and keep the number of inquiries to a minimum.

u go through the realtor ... if u have the downpayment and u make enough at ur job u shouldnt have a problem .... i bought my first house with NO credit actually ..

no

more credit cards are the answer.the longer established credit you have the better your chances are in getting money from the banks. i am a mortgage broker and also specialize in vacant land sales.since you only have 2 credit cards you nedd to get a few more but dont over do it.Visit quickiecredit.com and i would suggest in applying for a chase freedom card.It is one of the easier cards to get.After that you should apply once every 6 months for another card.Trust me i was in your shoes once and i remember what i had to go through to establish credit.i am 31 now and have over 28 credit cards with over 200000 in credit lines.

Hers is the real deal, some of thos quacks dont have a clue except for the one guy, he was decent. Now to the meat of thing. Each time you make a payment on your credit card you get points each month right? RIGHT. Now if you pay off your cards and dont use them, your not getting any point to increase your credit score, RIGHT? Like the guy said, use you card card but keep you balances below 50%. If you have $500 limit only use $250 and under. Here is a secret, if you have your balance over 50% and you pay on time every month, you get 20 points added to your score every quarter but if you keep your balance below 50% you get 30 points added to your score every quarter ok. Well go away kid your bothering me :)

Can you purchase land and use it as collatoral for the loan?

The bank said that we needed collatoral for our business loan...We found a piece of land with a rundown house on it, however it should appraise for more than our requested loan amt...Do you know if a bank will allow you to purchase the property with the loan amt requested AND use it for the collatoral on the loan??

A loan is taken from a bank for one purpose only. Say for your business you can take loan (or) to buy a plot you can take a loan (or) to buy an apartment you can take a loan. You can't take a loan to buy a property and by pledging this property you can't take a new loan! For every loan you need collateral security or to prove your financial capability to repay PLUS two guarantors to support you in signing the bank documents to pay back the loan if you get defaulted!

Added, after you purchase the house on a plot with the bank loan, you have to hand over the complete documents of the property to the bank and after your complete repayment of the loan with interest amount only the title of the property namely the house will be transferred to you, legally!

So, you can't buy a property by a bank loan to take a re-loan on same for your business! Hope this is clear to you!

The amount of loan you can get will be based on the value of the property on the land. Most bank do not give loans based on land value. The business loan can be tied to how much collateral you have in the property, however it does not make much sense to buy a property to take a business loan out on it because you would obviously need to have cash to buy the property and that cash is worth as much in collateral as the property and does not have any additional liability attached to it such as property taxes.

This very practice is what has led to the housing crisis across the country. Banks are now tightening up and not making anymore 100% True Cash Value Loans.

You might be able to find a private lender, like a family trust to loan 100% loan if the land appraises for more than the sales price.

If you go to a private broker, do not pay a finders fee until they have found the loan for you. Lot of crooks out there that will take the fee up front and then never find the loan for you.

You can't use something that you have no equity in....as collateral.

Like Ranger said!

Ha ha ha, if only we could!

No way Pedro!

I am an NRI, I need to apply for loan to purchase a plot/plot including home.Which bank is best? Pls help?

I am having account in ICICI bank and SBT kerala. I need to get a loan for purchaseing a land and built my dream home. Please advise which bank is providing good service with low interest rate and less paper work.. Ajay Dubai

ICICI should have local branch in Dubai and you should be able file the paper work through them, loans have and need some documentation to go with...so you will have to bear that.

As far as the rate, all banks give competitive rates - Check with Citibank India - again you should be able to talk to a local resource in Citibank Dubai and they should be help you with this too.

Hope this helps and good luck!

Does anyone know if a US bank or lender will finance buying a piece of land in Canada? tku in advance.?

Yes.

Co-op owner here..we are in a horrible land lease. we have reached a point where no bank will give a mortgage.?

what will happen to us? bankrupt co-op? we are a poor corp. ratio of owners to renters bad.

Yes probably. Fate is bad, be strong.

Why do the Israelis keep building new housing developments in the West Bank?

I mean they will have a bunch of little island communities in the West Bank. That would be like Canada coming across the border and just start building on vacant land then claim it as their territory

I don't understand it my self,

How will there be a Palestinian state made up of West Bank and Gaza strip when they are not connected?

will more land connecting the two be part of deal so that Gaza and west bank are connected and are one country?

The Palestinians have a nation they can live in peace in, and thats the nation composed of people genetically and culturally the same..the so called "Jordanians". Now it's funny that this is concerning Gaza and West Bank. Whic don't even belong to Israel.

The Area you refer to as palestine was once joined with the area today known as Jordan.

British Mandate of Palestine.

In othe words Jordan and Israel were refered to as Palestine, hence all people in the mandate were called Palesintian. In 1923 britian recognized transdjordan as a state and slowly reliquinshed power to the government, people were upset because this reduced the amount of land that could be used for a jewish state.

The creation of the state of Transjordan and Israel was after the war of 1948. The palestinians in Transjordan refered to themselves as Jordinians, they embracedd a new name, mind you being jordan carried all the same as being Palestinian.

Israel is hurrying to complete the closing of the gap while bush is still in office.

How do we govern Alaska and Hawaii?

In the game Monopoly, you land on Income Tax, is that tax on your total net worth or just cash in the bank?

The total of your cash, property, houses, hotels, but not the Get Out of Jail Free card. To make it simpler, after the first several trips around the board, the tax is automatically $200 (unless you are really poor).

It is the total value that you have.

After three rounds, your net worth should be around $2100. At this point, pay the $200 and forget about until you start selling or mortgaging property.

Depending on how technical you want to get, you can count your net worth a variety of ways. Unless you are in a tournament, you can play it as you see fit.

You should go the the parker brothers web site to get the official ruling.

total, even propertyand houses/hotels, usually just easier to pay the $75.00

Total net worth. It's pretty easy to estimate quickly, and as another noted, a few trips around the board will bump you to the $200 threshold.

Cash in hand, to determine your total net worth would take too long and slow down game play.

EDIT: well that's how we play at home anyway.. some people are way too monopoly hardcore...

it's ALL your cash + property put together. A friend and myself, we just pay $75 unless we only have a few properties. On computer, of course u let the game decide for u since it calculates it for u.

you try and total up all your earnings * say 1,000 and then you put in 10% into the caclulator and then that is what you pay ..

or else just make up your own .. say put $100 dollars in the free car parking instead whenever someone lands on it. Just remember it's a game so it's meant to be fun. Personally I hate Monopoly because whenever my brother played it he became obsessed with it.

It is your TOTAL net worth. Cash on hand, face value of properties, cost of houses and hotels (5 houses). Interestingly, Darrow's boards simply said pay $300 and early Parker Brothers games said pay 10% or $300. This was qiuckly changed to the $200 we know now. the Parker games with 10% or $300 were only made for a few months in 1935 and are extemely valuable today.

Sorry for the history lesson, but hope this answers your question.

Why don't Palestinians just submit to God and leave the West Bank and Gaza, as God clearly gave that land?

to Israel

The above question is just one of many examples of the perception that religion is harmful.

K, so I'm Jewish and you're kind of thinking is exactly what's causing the conflict there. Palestinians only have two areas in Israel, that's it, what needs to happen IMHO, is a two state solution and less discrimination. Treat each other like you would any other person, don't treat them as second-class citizens or they will fight you.

If a two-state solution doesnt work, then they should start to leave, but in no way is it necessary

Why should they leave? They should just acknowledge that it belongs to Israel. They don't realize this would be submission to God because their prophet apparently wasn't informed that the Jews would be coming back to their land as was Ezekiel.

Why don't all white, black, Latino and Asian people leave America? Clearly God gave it to Native Indians?

Because it is wonderful to have someone to hate, and right now it is the israelis.

I didn't realize God worked for Century 21

I don't think anyone can prove that an imaginary deity gave any land to anybody. Where are you getting this?

"I assume, you believe that Jerusalem

won't ever come under nuclear attack."

Ishmael-Esau-and Mohamed and their Descendants will not accept ;what You have stated;

so do you want to give america back to the native americans?

nope didn't think so

That was tried once, but no other Muslim country would take them.

*yawn*

We all know you're not Jewish.

Isn't it time for your medication?

Is there a good way of finding someone to do a land contract that is selling a house?

I can't go through a bank for financing. My parents will be giving me the $ for the house but I still can't use a bank. I really like one house, but no contact has been made with the owner. If it doesn't work out with this house.. how else will I know who is more likely to do a land contract?

Signs in yards like "for sale by owner", is that a slight indication?

Usually...The sign is an indication that they are not going through a real estate company. They are selling it themselves. Unless you have all the money upfront and make the sell with a receipt (the house is completely paid for by previous owners), I have never heard of someone having a mortgage without a bank. It is risky business for the person selling. If this is possible, then look for older people, moving people, etc. They tend to be more desperate.

Ask around. See if you get any interested sellers. It's worth a try!

Good luck!

Don't buy using a land contract, AKA contract for deed, AKA "no bank qualifying", AKA "non-qualifying assumption". There are sellers out there who will do it, and Realtors who know where they are. If you really want one, there are Realtors who will do this to you. I'm not one, and I won't give you the names of any.

"For Sale By Owner" means that the owner is marketing the property instead of a Realtor. It does not mean that the payments will be made to the owner. However, someone who is not represented by an ethical Realtor (a For Sale By Owner) may be ignorant enough about the risks involved so they might be a good target to trick into a land contract. The risks are not only for the buyer, but for the seller also.

I list foreclosures for a bank here in San Antonio, and I sell some of the HUD houses too. In tracking the history of foreclosures, many were "sold" using the contract for deed scheme a few years prior to the foreclosure.

The signs may not be a good indicator as they may not be willing to go land contract.

I'd put an advert in the paper. Say "Looking to do a land contract on a house in the ____ area" and say how many bedrooms you need, your price range, etc.

That and word of mouth are the two best ways.

realitors have info on homes in the area where you live regarding land contract.

Why did Jackson oppose the National Bank?

im doing homework and i need help the answers 4 this are:

A:The bank would not make loans for land.

B:He felt it did not favor the common man.

C:The money in the bank was not backed by gold or silver.

B. He felt it did not favor the common man

trust me we did this last week in my school

I think it was C and that he knew the method being provided was flawed...kind of like our Federal reserve...which isn't even federal...

I a malaysian guy planning to migrate to NZ.Is it easy to apply for a credit card from any bank in NZ?

I dont have a job yet. I am sure i can land on a job soon there. I have limited funds to be in NZ to hunt for jobs.Can i get a credit card from any local bank. I am planning to get a apartment room so i would a fix address if they ask. Is there any other prerequisite tht i need to be aware of..

You probably need to get a bank account first and you can only get a bank account in NZ if you have residency, a work visa or a student visa.

Selamat petang and welcome to NZ. This country is very free of unnecessary bureaucratic complexity. You'll find it much easier to get a credit card here when you've got a job, a fixed address and a residence permit. I suggest you wait until you've got these before you apply. Otherwise, if you get turned down it makes it look bad next time you apply. In my experience the best financial institutions here are the Southland Credit Union, Kiwibank and SBS.

Well, from my past experience, you would probably have to be have an account (cheque or savings) for a period of 6 months with the bank, proving that you are legally employed as well as steady income inflow. They would need you to verify that you have been living in a permanent address-eg: income statements which will be sent to you monthly. Hope this help, I could be wrong on the latter part, been away for a while..so...good luck and welcome to good ol'NZ!!!

Hi Ram,

The above answer by Sebcue ^^^ Is a totally one eyed version of what New Zealand is like, filled with bad grammar, made up statistics and mass generalizations. New Zealand is a wonderful place to live, salaries are low but are offset by the life style. New Zealand is a reasonably safe country to live compared to other countries around the world which is what makes it so attractive to overseas immigrants.

The only problems I see New Zealanders having with immigrants in New Zealand, and please note that this is my OPINION and a an OBSERVATION on my behalf, is when immigrants come to New Zealand and live in a shell of their own culture without trying to adapt to the 'kiwi way' at all. I personally don't have a problem with immigrants living according to how their culture lives, but some Kiwis do.

I know that doesn't answer your question, but I thought I better clear up some of the lies that sebcue has spread around.

With regards to the credit card situation, you will need to have a permanent place of residence ad at least six months of proven income before the finance companies will even look at you, sorry but that's how it works here.

I wish you good luck on your endeavours to move to NZ...

Hope this helps.

Cya!!

I hope not for the public's sake.

To acquire a mortgage for a new building, does the title for the land it will sit on be free and clear?

I own 50 acres of land (a 40 acre parcel and a 10 acres parcel with separate tax ID numbers, but which were purchased with one mortgage). The house and buildings sit on the 40 acres. The other 10 are unimproved Ag zoned. I want to put a business on the adjoining acres, including putting up a new building. I want it to be separate from my home, and I want to be able to sell it separately, perhaps, in the future. If I want to get a mortgage for the new building, do I have to separate the 10 acres from the other 40 so that the 10 acres has a clear title? What are the chances that my bank will do this for me (I have paid 5 years of a 15 year mortgage - I had originally put down 20%). How should I negotiate this wtih the bank for the best possible outcome which is to get a clear title on the 10 acres without paying too much or anything.

You will have to subdivide it. The bank won't be able to perform the subdivision, but they shouldn't have any problems with you improving the land. If you don't want them to have the ability to take this portion of the property if you ever default on the loan, you should ask them to release that portion from the collateral. Most banks will oblige on this as long as the LTV (loan to value) does not exceed 80%. Since you are a third of the way through the mortgage, that shouldn't be a problem. It would probably be best to talk to someone in the mortgage department at your bank and explain to them what you want to do. I'm sure an acceptable agreement can be reached.

I would ck to see what the value is for both portions of land . If the value of the larger lot was enough to pay off the original loan. I would refinance the larger lot and have the smaller lot free and clear to do as I please with. http://answers.yahoo.com/question/accuse_write?qid=20060812200852AAv6k5a&kid=RcF9WzK7AjBBEgw_geyZRwoQjTT30WtFPhBBteI0ANeMlWgU26oO&s=comm&date=2006-08-16+15%3A25%3A20&.crumb=

I work with Real Estate Loans /Refi's /Sales /Purchases etc. http://answers.yahoo.com/question/accuse_write?qid=20060812200852AAv6k5a&kid=RcF9WzK7AjBBEgw_geyZRwoQjTT30WtFPhBBteI0ANeMlWgU26oO&s=comm&date=2006-08-16+15%3A27%3A08&.crumb=

http://www.emortgagedomain.com/ http://answers.yahoo.com/question/accuse_write?qid=20060812200852AAv6k5a&kid=R5YsUja0UjMu8AH1dL9kWTihj547Z81lKIcxIPdK5DhZWxXRRNPl&s=comm&date=2006-08-28+12%3A23%3A54&.crumb=

Your bank will do anything you want, because if they don't you can go to another bank & get another mortgage to take theirs out. They will probably be happy to give you a new loan on the 10 acres themselves & you can save some costs because they already have the title work done & have lien priority. The new loan can be subordinate to the first, or they can release the 10 acre parcel & have a new first. Most likely they'll suggest just modifying the existing mortgage to increase it cover a new note for the sum you'll need. (This is called an advance) Your old note probably has a very low interest rate & the bank may suggest replacing it with a combined new note at a new higher rate. Tell them you want to keep the old rate & just have the new rate on the new funds. Depending on how tough a negotiator they are & how tough you are, they may back down, or you may back down or you may "blend" a compromise rate. If you are a good borrower (ie, never late) & are planning to a start a new business on land in which they have a secure loan, they are not going let you walk over to their competitor's office without doing everything they can to keep you. You will always be able to sell the business & 10 acres separately when the time comes -- the new buyer will take care of that. Right now you want the best deal for yourself.

You can't get a clear title on the 10 acres until you have paid off the original loan. You need to talk to your lender and tell them you want to build a building on the property and apply for a loan to have it built.

Can my husband avail home loan when i own the land?

Hi,

I am married and own a piece of land in my name. We wish to build our own house but only when we avail a bank loan. I am employed in a small private concern which does not have a strong background But my husband works for an MNC and eligible for getting loan. Will we be able to avail loan or should i change the property to the name of my husband to get the home loan? Need help.

Absolutely your husband can avail loan making you as joint owner. IT benefits also can be availed by both depending up on your salaries and IT payabale.

Hi,

Of course your husband can avail a home loan without transferring the property in his name. For the sake of loan, do not even think of property transfer as it involves stamp duty and registration costs.

You need to understand two terms, co-applicant & co-owner.

In your case, your husband can be an applicant without being a co-owner and you will have to join him as co-applicant.

Know more about joint home loans at http://www.paisamatters.com/paisamatters/joint_home_loan

Home loans are now available to many people for whom they would have been out of the question just a few years ago. You’d be in much better shape to bargain for better interest rates if you had a more impressive credit history, but if the house you want is the deal you believe it to be, a bad credit home loan can still work to your advantage.Your best bet in assuming a bad credit home loan is to pay as much cash up front as possible, and see if by doing so you can negotiate a lower interest rate.

http://www.worldbestloans.com/

http://mortgage-loans.awardspace.com/

You’ll save enough money over the term of the loan to compensate for the sacrifices you had to make in handing over the down payment.

The bad credit home loan can be a win-win proposition for both lenders and borrowers; the lenders, thanks to the higher interest rates, get bigger returns on the money loaned, and the borrowers get a homes in which to build equity, and chances to restore their credit records so that the first bad credit home loans they take will also be the last!

yes certainly your husband can avail housing loan for construction on the piece of land owned by you.

no need to transfer it to your husband name. you will be co-applicant for the housing loan.

i have come acroos several such cases in the past twenty years.

all banks and HFCs are giving. don't worry. Good luck!

To get a bank loan for building a house, the piece of land should be on the borrower's name or atleast it should be co-owned by the borrower. Otherwise, they won't give loan.

Your husband can avail the loan and you have to be a co applicant or co borrower. There is no need to transfer the property in his name.

Ya, ur husband can definitely get the loan amount while u are owner of the land. To get to know more details on this topic, refer to the following website:-

http://www.paisawaisa.com/

yes dear , your husband can avail loan making you as joint owner which will benifit both of you .

Can someone tell me what you have to do to get a section of land?

What sort of payments are required? What does the bank require? What insurance do you need? For land between $100,000.00 - $300,000.00

most banks don't lend on land alone, I would call a broker they might know of an investment company or some like that. good luck

Some banks do offer a "Land Loan" it is usally on terms similar to investment property. With atleast 80% down. I have never heard of LAND insurance. What would you need insurance for? Is it waterfront or farm land?

My house is going into Foreclosure and I have a Vacant Land will that get taken away too?

When I got a loan from the bank I ended up getting $30000.00 out in cash and with that money I bought a vacant land, now that my primary residence is going into foreclosure will they take my land away even if they don't know that I bought that land with the money I took out of the loan.

no cause it's not tied in,

after they auction your house they can put a lien on it for whatever the difference between what they sold it for and what they recieved

Unless the lot is tied to the mortgage, no they can't foreclose on it at the same time.

HOWEVER, if you foreclose on the house, YOU WILL OWE the difference and the IRS will tax you. YOU CAN"T JUST WALK AWAY.

The real estate guy's answer is better and more knowledgeable.

yep, they wil take all of your assets to supplement your house loan.

Looking for best financing options for recreational land loans?

15 acres of bare land. All riverfront property. Rural Arkansas Ozarks, yet known resort type area. I feel like the local bank that has agreed to lend without the appraisal is a bad deal and closing is coming up. We verbally agreed to 3 yr ballon with 10 year Amt. I don't know how to shop for a land loan in today's market place. Credit great. 20% down, no prob. ? How do I shop around for a loan without hurting my credit just by asking?

Lenders who specialize in land loans, or are members of the Farm Credit System, often have better deals than run-of-the-mill banks. See one of each in the following links. Good luck.

there are also options which allow you to leverage your primary residence. That would give you a better interest rate.

log onto

pncmortgagepro.com

or email me at frank.norris@pncmortgage.com http://answers.yahoo.com/question/accuse_write?qid=20070921203444AAA7j03&kid=HI5TC03gCE76YKwU9AJz&s=comm&date=2007-09-23+18%3A20%3A11&.crumb=

Bank of America hands down has the best land loans I have seen. The down payments are low and the rates are fairly good. I have been selling vacant land for several years and the easiest and cleanest deals are when the client uses BOA! I doubt that you will need to use your entire 20% on a land loan at BOA. I have seen them do 5% down on $175,000 land deal.

Call Countrywide.Good luck

YOU SHOULD CONTACT OTHER LENDERS IN YOUR AREA FIND THE LOWEST INTEREST RATE AND TAKE OUT A LOAN FOR THE PRINCIPAL ONLY AND MAKE YOUR PAYMENTS ON TIME IM SURE BANKS IN YOUR AREA WILL BE GLAD TO HELP. www.freewebs.com/rrland LOWERCASE

How can you tell if your land lord is going through forcloser?

I rent a home in orlando fl and my land lord does not call are nothing. I got a call from a inspecter today and she said she needs to inspect the house I asked her for what ans she said she can not say. And I told her then you can not come in the house. Then she said all I can say its between the bank and the owner of the house.

If the home was being foreclosed on, usually the bank is required to inform both the owner and the tenants.

Without word from your LL you didn't have to let some one in. Without advance notice you don't have to let some one in. Most likely your LL is refinancing, and if they were prudent, they would give you notice, as required by your lease and to make the best impression.

He is probably refinancing, the banks do not inspect for foreclosures. That person was there to appraise the house.

If a senior citizen sells his ancestral agricultural land and get Rs. 30 lakh. Does he need to pay income tax

The land gives presently mariginal crop. The seller is a retired employee. If he put the huge money into a bank will there be any objection from bank employees?

Senior Citizen or not, Ancestral or self earned land - It is exempt from tax if the land satisfy the following condition:

The agricultural land must be 8 kms away from a municipal or a cantonment or a Major Panchayat (of more than 10,000 population as per last senses) limits. Then it dose not come under tax.

If the land is within the above said limits, then you have to pay long term capital gains.

Regarding depositing 30 lakhs in a bank. To deposit more than 50 thousands in a bank, they will ask for PAN number. There are so many things which I should not answer in a public web site. Before selling the land and before depositing the amount in a bank or before investing the money in any other place, please consult a Income Tax auditor (Tax consultant / C.A)

Best land banks to start up buisness account with?

northen rock

Is it necessary to deposit returns on selling land in capital gains till I buy residential house 4 tax benefit?

I sold a land 2 months back and planning to buy a flat in an apartment. Is it necessary that I should deposit in capital gains till then? I checked in a Bank and they told they never opened this account n need to check with their head office. They were very much surprised with my idea of capital gains. please advise me

Yes in order to acquire the Tax exemption on capital gains you need to reinvest that amount in any other immovable property with in 2 years of gaining it.

Until that time that amount must be deposited in a 'Capital Gains Deposit Scheme Account' in any of the public sector banks and should be shown in the IT returns.

I was looking at foreclosed lands at a bank in the Philippines. I saw one, and paid the reservation fee.?

But I found out that there is a tenant in the land, and that the tenant is the land's former owner. Also, the former owner was just about to buy back the land; I was only about one or two weeks early.

Should I pursue the land? Or should I look for others and avoid this potential court case?

Sounds a bit complicated to me ... I would avoid.

You shouldn't buy anything in the P.I.. I was scammed out of $20,000 U.S.. Which has left alot of people angry and hurt.

Be very careful.

I m a agriculturist at ludhiana. i m going sell a piece of that land .shall i deposit the money in bank.will t?

want to avoid taxes from agriculture land earing

If you have the property in your IT return and if you sell all for white money, you have to pay capital gain tax: it all depends on the value .consult an auditor i your area: or write to us with full details

Can someone explain why Muslims or Arabs consider the West Bank area their land?

Serious answers only please. Some people say the following:To call the Israeli presence in THEIR OWN ancient homeland an "occupation," is ridiculous. An occupation of what? There was never an Arab "Palestinian" nation or people there before. There are no "Palestinians." They are a made-up people for the sole purpose of political propaganda! They have no separate culture, language, or country of their own; even their leader -- Arafat -- is EGYPTIAN!! He later moved to Jerusalem. If anything, Arafat is an "illegal occupier" and "illegal settler!"

You can find all the history and other facts at this site. There's far too much info to quote here.

Citations in here come from the Wikipedia write-up I cite in the "source" section. Don't count on Wikipedia to be the be-all and end-all truth. But their account, I think, is a good overall summary.

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Because the Israelis lay claim to that land as "ordained from God". They claim it is their promised chosen holy land, that their right to settle there comes from God himself.

"According to the Torah, the Land of Israel was promised to the three Patriarchs of the Jewish people, by God, as their homeland;"

Well, what kind of muster does THAT carry if you don't believe in God, or don't believe in THEIR God? And how 'bout the arbitrary assignment of that land to Israel in 1948? Was that really fair? Or just an arbitrary handing-over of land from Palestine to Israel.

Sorry... but if I were an Arab living in that part of the world, I too would be p**sed off that Israel just somehow arbitrarily can lay claim to that land.

Sorry how do you think the Israeli's got there, that is, how do you think they came to be in the land that they now call Israel? Maybe that'll answer why you think Palestinians are made up people.

I'm not sure where you are getting your information, but it is incomplete at best and flat out wrong at worst.

How hard is it to get a mortgage on vacant land?

Will banks give you a mortgage on vacant land, just like they would a house?

No There were some companies like Miles Homes that offered some raw land financing as part of what is essentially construction financing, which is usually only available to licensed contractors, or home builders with a track record of successfully building homes that receive "C of O's" in a timely fashion. That was when there was lot's of loan money around probably not now. You could check into it though.

Some will and some will not. Start calling,and if you find one that will you must have excellent credit and the land must be appraised at or above the asking price and they will,in most cases, want 10-20% down.

Your interest rate will not be the same as it would be on a home, and you will have to put down a larger down payment.

When will Israel back off & reduce its land and power in the middle East.?

Israel has more prosperity, less overcrowding and a greater land mass, than the West Bank. Indeed until it gives back some land back to the people their I see no change of actual warfare from both sides in the future. Is there other options on the table or am I wrong in this view.

i would in broad terms agree with some of what you are saying

israel is the more affluent 'player' if you like, it can afford to give both land and money in the long term ideal of producing a stable two state solution and i hope that it make real strides towards doing so.

But I do think that a lot of people see the situation as 'rich' israel being the abuser and exploiter of 'poor' palestinians - and i for one cannot really fault the actions of Israelis who have been the brunt of aggression against them for so long, so it really has two be a two way process where both groups are seen to compromise.

The palestinian people have been badly let down by the people who are supposed to represent them - Arafat, PLO, Fatah, Hamas and probably a load of other splinter groups all broadly dedicated to aggression towards Israel. Once these groups start to soften their stance then there will be a chance of peace - like Fatah and the West Bank, Just like the Jordanians and Egyptians have some form of lasting negotiated peace with Israel.

Simply asking Israel to make concessions without appropriate reciprocation is unreasonable, because as we have seen with Gaza which was handed back to the palestinian authorities, gaza has now become governed by a bunch of extremists who will happily kill both Jew and Arab if they get in the way of their ideology

Israel is a tiny part of the middle east. And prosperity there isn't coming from the land, it's coming from the people. Israelis are willing to work towards bettering their future.. Palestinians want to genocide their neighbors. The difference in attitudes is the major factor in the difference in the quality of life.

israel back off? unlikely

http://www.rediff.com/news/2006/aug/01bidwai.htm

"Last week (July 22), Israeli leaders, including former prime minister Binyamin Netanyahu, celebrated the 60th anniversary of one of Zionism's worst terrorist attacks, on the King David Hotel, the headquarters of the British representative in the region."

these are the sorts of people who control israel. israel will never back off while its politically expedient for the US to prop up their tin-pot terrorist state

because of the terrorist attacks israel has veered to the right, meaning that a more right wing government is going to take control of israel, i doubt it

last time netanahu right wing was prime minister the same thing happened

And here I am, wondering when Israel is going to be increasing its land and power in the Middle East?

Since the Arabs control far more land, why don't you ask them when they will give some up?

When pigs fly

What would be the likely response if any should I choose to write to the Central bank?

Dear sir

It has come to my attention that you and not the government of Canada print money and loan it to the Canadian government . This deception has lead to the average Canadian wrongly believing they as a nation are in debt when in truth the Canadian people have been robbed and held hostage to pay interest on the theft

It has come to my attention that you are not an elected official and that by wrongly lending money to the government of Canada and holding hostage the peoples that you have become the owner of the government and by controlling the circulation of money with no oversight or democratic representation

This is clearly in my opinion a charge of treason and interference with many elected governments Provincially and federally I believe there is ample evidence of a bloodless coup

I therefore ask that you surrender yourself to the nearest RCMP detachment and make a full confession available in order to avoid further costs for a trial

Because you are not the government of Canada the money you have printed is counterfeit and not the currency of this land Because you have used these counter fit notes to purchase to the government you should immediately confess to treason interference counterfeiting and holding hostage the peoples of Canada in a racketeering scheme of absolute evil with the purposeful design in mind of enslaving the peoples of this Dominion

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What would be the likely response if any should I choose to write to the Central bank

Laughter

A free beating

A restraining order

A job offer

A confused secretary who tosses it in the rubbish bin right away ?

--- Something completely different ?

I think you'll hear the sounds of crickets in the night. Nothing. I think it will get passed up the chain until it reaches the first person who knows what your Central Bank actually is, and then you'll be put on a watch list. I hear there are over 1 million American citizens on the no-fly list (I'm more than likely one of them). I have no info on Canada, but I can look it up.

So Trout, you get the deal with your currency, but you buy right into Climate Change? Why? Don't you realize that they are both being done by the same bunch of Progressive hucksters?

Probably no response. I'm sure your Central Bank probably behaves much like the Federal Reserve does. In America, we have a Ron Paul. In the rest of the world, as far as I know, no prominent politician stands up to the central banksters.

A confused secretary who tosses it in the rubbish bin.

A Bush autograph

Does canada not print thier own money?