Related Posts
Thoughts on SoFi bank?
More Posts
Recs for sushi grade tuna to buy pls? Thanks!
Never go to ofc so early 🤧

She’s a real bugger...

Do you believe in Karma?
Additional Posts in The Real Estate Bowl
Any Property Management recs in Seattle area? :(
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.






Curious why unhappy? Tax event for sure. Is this their primary risendence or inv property? You can use 1031 exchange
Yea it’s their primary residence. They’re just much further out from the nearest town than they’d like to be (mom is pretty social, dad likes his solitude), and they didn’t think it would be an issue to have a bit of a longer drive, but neither are crazy about it now. It’s hard for them to find a community.
Well the downside is the closing cost and commissions and all relocation related expenses, and maybe at their age the energy itself is very tiring.
However, if they are financially okay to take the hit and move back; I agree with you that it is better to make the decision sooner than later.
They have fixed income so they likely have a different opinion than you do
Not exactly answering the question
I bought a condo when I wasn’t ready to be a homeowner. I lived in it for 2.5 years and then sold it and used the proceeds to pay off all my credit cards and personal loans.
I regret the purchase, but it gave me the opportunity to get out of consumer debt for the first time in 31 years. I rented for a while then bought another condo 3.5 years ago. I will live here until I need to go to an old folks home.
Eating the cost of closing x2. If they somehow sold at a gain m they’d have tax. Tax on any gain, or eating a loss
Agree w/ EP
OK, heard. But it favors them they weren't paying interest. How much could closing costs be? 3-4%? Could perhaps have made that in a year or two of equity on a fully owned home, right? Wouldn't that make a flip seem plausible? PLUS, could consider putting closing costs on buyer, or using same realtor if they'll concede some closing costs under the circumstances.