Bought a house last fall for 800k serious buyer offering for 1.35 million, what would you do?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For a profit of $200K+? Yeah, I might sell for that amount... Do you think the offer is realistic?

a

The profit is $550,000. I'd sell in a hot second and rent until I found what I wanted.

You would have to give 35% of that to obama so its a lot less

I voted for Obama. I am glad to pay my taxes. They pay for things that I believe are important - roads, military, welfare, schools, scientific research, student loans, home loans, FEMA. I prefer not to freeload. The US has a strong social infrastructure that supports our growth. I think it's important to support it and not try to get a lot of benefits for free. I get annoyed when the GOP whines about taxes, but are the first in line for federal money if a disaster hits their state.

The profit on the deal is over $300,000. That's a decent profit and I could do good things by investing that money.

[Anonymous]

I don't believe this, sorry.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For a profit of $200K+? Yeah, I might sell for that amount... Do you think the offer is realistic?

a

The profit is $550,000. I'd sell in a hot second and rent until I found what I wanted.

You would have to give 35% of that to obama so its a lot less

No, you'd give it to the US Treasury, so even a snarky twit like you would be subsidized/benefit from it in ways you probably can't even understand or appreciate.

God, the inane moron quotient keeps rising...

[Anonymous]

Anonymous wrote:

Anonymous wrote:What part of FX County? McLean?

I think I know but its gonna make mclean people sad

Would not be McLean. No new construction there for $800K for years.

There's nowhere in Arlington or Fairfax that has had that level of appreciation, so if someone wants to pay that type of money there, I'd take it and run because the buyer is a fool, has unique circumstances, or both.

[Anonymous]

Anonymous wrote:I don't believe this, sorry.

Im surprised more people haven't said this. There's no way a house worth $1.35M in Ffx sold for $800 a year ago. $1.35 = new construction, 5,000 sq ft, etc.

The post is bullshit

[Anonymous]

Anonymous wrote:We bought a newly built house last fall in a very desirable area.

We have no intentions of moving but a buyer is very interested in purchasing the home for a price of 1.35 million.

What would you do? Part of me thinks it's a great idea the other part of me worries that I won't be able to find a house of the same caliber with the profits made.

Interesting. Turn $800k into $1.35m in 12 months??? Is $1.35m a sustainable value? Meaning, will that price stick in the event you have to sell in 2,5,10 years? Or it is a totally windfall, opportunistic buyer out there only right now?
If the latter, I'd consider it. Get some legal purchase agreements papered up, keep the fees low (do NOT let a realtor claim more that 2.5% for this 'friendly' deal), and then structure it wisely. If married, you get $500k of tax free cap gains if you live in it for 2years. Can they rent from you for 12 months with a strong agreement to buy in june 2014 at Xyz price? Or do rent to own? So that's a sale price of $1.3m, make them pay all closing fees, whatever realtor fees, recordation/title fees to gross things up to $1.35m as they claim the value is.

[Anonymous]

I would sell if it's been more than two years. If less than two years you will have to pay tax.

[Anonymous]

Op here , its real and new construction, 6000 sqrft in pimmit hills . The potential buyer said a home in mclean would be 1.6 and didn't care about schools because he is going private.

[Anonymous]

The putative buyer is nuts. First, no one pays that type of money to live in Pimmit Hills. Second, a 6,000 SF new construction house costs $1.8 million or more in McLean, not $1.6 million.

[Anonymous]

Anonymous wrote:The putative buyer is nuts. First, no one pays that type of money to live in Pimmit Hills. Second, a 6,000 SF new construction house costs $1.8 million or more in McLean, not $1.6 million.

I don't see that as nuts actually the savings are good for a buyer especially if mclean is 1.8. Pimmit hills is climbing in value get used to it.

From someone looking from the outside there isn't much difference between mclean and ph especially if you are doing private school.

[Anonymous]

Anonymous wrote:Op here , its real and new construction, 6000 sqrft in pimmit hills . The potential buyer said a home in mclean would be 1.6 and didn't care about schools because he is going private.

Why did I know Pimmit Hills was going to make its way into this thread??? Of course the house in question is in Pimmit Hills. Of course.

[Anonymous]

I still don't believe a word of this. And no one confuses Pimmit Hills with McLean, either. At least no one I know would, and I live in Arlington!

[Anonymous]

Anonymous wrote:I still don't believe a word of this. And no one confuses Pimmit Hills with McLean, either. At least no one I know would, and I live in Arlington!

The buyer knows exactly where the property is there is no confusion of mclean vs pimmit. Point being he would rather save some money and was considering going private school anyways.

I am not considering it because of the capital gains issues.

[Anonymous]

Jeff, can we do something about the offensive person who keeps posting the same pic over ad nauseum? It really is detracting from this board and these threads. It really does take away any credibility to see the same poster post the same thing over and over and over again.

It is not only this offensive GIF (on the non explicit boards, I am not a prude); but it is other posts as well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I still don't believe a word of this. And no one confuses Pimmit Hills with McLean, either. At least no one I know would, and I live in Arlington!

The buyer knows exactly where the property is there is no confusion of mclean vs pimmit. Point being he would rather save some money and was considering going private school anyways.

I am not considering it because of the capital gains issues.

And yet you claimed to be on the fence when you posted earlier today and said you were soliciting offers on Zillow and the like?

This is just another illusory thread to drum up interest for Pimmit Hills, in my opinion.