Strange offer on a house I'm selling

[cute fuzzy bunny]

Quote:

Originally Posted by megacorp-firee I don't think that you can take a capital loss on a house that was NOT a business property (i.e. rental unit).

For some reason I thought the OP had inherited the house and his brothers were living in it; on a re-read, they all inherited it.

Since some of the owners lived in it as a main home, then they cant take a loss.

[brewer12345]

[quote=Nords;616931]

Quote:

Originally Posted by free4now Because they cost money and, unless paid more, have no incentive to move the deal along. I haven't used an attorney to close on a house since 1985 (South Carolina), and he screwed it up. Of course since then we've done our real estate buying/selling in Hawaii & California, which didn't require lawyers.

Hmmm...

I would still hire a lawyer top protect my interests. They aren't supposed to move the deal along, I am.

And in NJ, it is actually illegal to buy or sell without an attorney anyway.

[Buckeye]

When I sold my CA rental property 3.5 years ago, one of the downpayment charities was involved. It was truly a charity and was properly registered. I refused to close the deal unless I was made whole on the additional taxes and real estate fees I estimated I was going to incur by upping the sale price. The buyer's agent acted like he didn't understand how the higher sales price was going to cost me money but I held tight and he ended up kicking in about half of his commission. It was much more of a sellers' market back then so you probably don't have the leverage I had.