“Hi Gary. I saw a condo for sale in P.B. priced extremely low, about 25% below market. Then I found out it’s one of those short sales. Do you think it will actually sell for that price?”
***ANSWER:
No.
Before I explain, let’s first review what a short sale is:
A short sale is when an owner sells a […]
“I’d like to take my duplex and add funds from my 1031 exchange so that I can turn it into a fourplex. Can I do a 1031 exchange into an investment property I own without paying taxes?”
***ANSWER:
Basically the answer is NO, you cannot exchange into a property you already own.
However…
If you hire top-notch, expensive tax […]
“I’m going to sell my home and I’m a nervous about the buyer’s inspection. My home is in good shape but it’s not new. Won’t the buyer’s contractor come up with a lot of things wrong so he can charge to fix them?”
***ANSWER:
Great question. It’s the same concern you have when taking your car to […]
“Hi Gary. I rented a place and the seller also gave me an option to buy it. He said I could buy it any time in the next 18 months. Do you have any advice?”
***ANSWER:
Yes. Get it in writing!
I’ve got a sneaking suspicion that your option is verbal and likely not enforceable if the owner […]