I wish the demand letter route could work and force him to withdraw that other offer so that the bank can only consider our updated higher offer.I think that the owner is doing some "shady" stuff with this new offer and might be in with the new potential buyer to rescue his flip.

If you take the legal route,  I suggest taking it to small claims court also known as justice of peace court since the amount is under $20k.

Hello all, I own a condo and I made the mistake of trying go the FSBO route to save some $. 

Another good route to take would to be to go to your local kitchen/bath design place. get them to do the designs and then ask them for the assist on picking paint colors, flooring, and the other finishes you will have through out and they will be able to steer you down the right direction.

That is a taxable event that can be better handled with 1031's - but keep in mind with a 1030 your cost basis is lower (cost basis comes from the sold property plus any increase it the cost of the acquired property, so if depreciation is key to you (depreciation should not be your key, just a benefit to you until you sell and then you have recapture tax on it or go the 1031 route), maybe not a good thing.

There’s another post about Keansburg that says be careful because most houses have to be raised because anywhere east of route 36 gets heavy flooding.

@Jenni Utz I going to go that route.

If you can use that capital to buy a multi family and net more on appreciation and cash flow, that will probably be the more favorable route.

@Trevor MaternWelcome to the forums....If you're going to STR route, make sure you are in an STR friendly area.

There are a lot of questions that you would need to both ask and answer to determine the best route.