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re: Would you guys take the money and run?
Posted on 8/1/12 at 7:39 pm to TigerDeBaiter
Posted on 8/1/12 at 7:39 pm to TigerDeBaiter
We paid 260k. We haven't moved in yet. Just purchase yesterday. We currently own a home and were trying to upgrade bc of another baby on the way so we would stay in current house if we sell new house. Have a renter lined up that will cover mortgage, expenses etc on the current house if we don't sell new house. I know cap gains is going to take a third. And the real estate agent is not getting 6% for doing nothing. I figure I can get him down to 4.5. The buyer has an agent too. So I don't think I can get much lower than 4.5%
Tiger94 why do you say that? the bank won't lend them the money bc I haven't lived there long enough??? I thouht that may be a problem.
Tiger94 why do you say that? the bank won't lend them the money bc I haven't lived there long enough??? I thouht that may be a problem.
Posted on 8/1/12 at 7:59 pm to Eon Blue
How much you paid for it isn't really important other than to calculate your capital gains tax. What matters is whether this new offer is higher than you think is fair value. Since this is a repo I assume you've done some due diligence and have a good idea of what that fair value is.
Look at it this way - if the seller is offering you a fair market price then why bother?
Look at it this way - if the seller is offering you a fair market price then why bother?
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