All Forum Posts by: Lisa R.

Thank you, Bob for that information. This will be a property that I am using as my primary.  Can you tell me how I have to show proof that it has been my primary? I do not have the utilities in my name…

Thank you!

Thank you so much Scott for the help!! I really appreciate it! You answered all my questions :)
Have a wonderful weekend!

Lisa

Hello All-I need help! Is there really no capital gains tax on the sale of real estate in Washington state?? What’s the catch? That sounds too good to be true. What am I missing? 
Also- can anyone answer a question regarding the $250,000 exemption from gains when you sell a property in Washington state as a single filer? Does this exemption amount get subtracted from the sale price of the property, or the assessed value of the property? 
or can somebody possibly just point me to the direction of where I can find the information I need?? 🙏🙏🙏

Thank you so very much!!!

@Julien Jeannot

Hi Julian, I just now saw your message :)

They really are no contingencies. Other than I am expected to keep appliances in the house. 
we did add a penalty, if either one of us backs out. He’s probably getting a pretty good deal but I would not say great. He would really like the property because he just bought the property next-door and put a townhome on it and his family is living there and he wants more of his family to live on this property so it would work out pretty well for him :) that’s probably why he’s so willing to lock in the deal right now. Possibly just to avoid me finding someone else. 
I tried to get a loan against the property, but I could not find anyone that would do it. There is no mortgage on it. Also, tried to do a HELOC but was denied.

Thank you again, Julien for your thoughts, I really appreciate it!

Lisa

@Account Closed

I ran the numbers Ken. It would be 38,000 in rent…

Thank you :)

Lisa

@Account Closed

Hi Ken! Thank you for your reply. Can you tell me why you think that would be a better idea? I considered that but with the price of rent in this area, I did not want to pay that much rent every month. The buyer wanted to charge 2000 per month….

Thanks again Ken!

@Robert B.

Yes. 

@Nathan Harden

Hi Nathan-thank you for your message. 
The reason we are doing the earnest money now is because I want to use that $ for something else. 
I have had a realtor run all the comps from the last three months to the last few years… I feel pretty confident in the dollar amount I am asking. 
I am helping the buyer buy allowing him to buy it and not listing it on the MLS. He is helping me by giving me earnest money now, and not waiting until closing. I FEEL like we are both helping each other out. Just trying to catch any red flags if possible…

Thank you again, Nathan!

@Jonathan Bock

Hi Jonathan! Thank you so much for your response. I have had a lawyer look at it, but I was still very nervous. Because I am taking the money upfront. As opposed to it sitting somewhere waiting for closing.

I am going to remain living in the home until mid 2025. The buyer would probably love it if I were to move out right away. I just do not want to have to move yet- just personal preference. Why do you say deal of the century?? What did you mean by that? I just got a little nervous again, lol. 

Thank you,

Lisa

Hello fellow BP peeps! I am considering selling a property and taking Ernest $ up front now- BUT It will not actually close until mid-2025.  Can anyone give me some worst case scenarios besides me owing the $ back if it does not close for some reason AND if there is a way to protect myself in the purchase agreement from any worst case scenarios….

There is no mortgage or realtors involved- only real estate attorneys. No contingencies involved. Houses on property will be torn down….(by the buyer). 

Any advice is sooooo appreciated :)

Thank you,

Lisa