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

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

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[quote=Anonymous][quote=Anonymous]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.[/quote]

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. [/quote]

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