Anonymous
10/29/2025 05:47
Subject: Renter trying to buy
It's a tax bomb, so consider the best timing before you sell it. Maybe better to let your heirs inherit it.
Anonymous
10/29/2025 05:38
Subject: Renter trying to buy
Anonymous wrote:Anonymous wrote:Easy, I would sell the house at a fair price and put the proceeds in an index fund after paying the tax that I owe. I have no interest in being a landlord, and certainly not as I get older. Do you have a willing buyer - don’t overcomplicate your life
You must not have read the post. It’s not about what you want in your life.
“How would you handle this situation?”
Was the question.
Anonymous
10/28/2025 22:22
Subject: Renter trying to buy
what was your plan before this offer? If it was to sell later, I'd just sell now. If it was to leave it to a child, I would talk with the child about the options of having a house with stepped-up basis versus having cash, potentially sooner. Not every kid is going to want to live in a specific house or be a landlord.
Anonymous
10/28/2025 20:54
Subject: Renter trying to buy
I would gladly accept the offer. Offloading a property at fair value, saving 5% on agent fees, and not having to do any repairs or prepping for a public sale, all sounds like a huge win to me.
Anonymous
10/28/2025 20:33
Subject: Renter trying to buy
Anonymous wrote:I had a similar situation in the condo complex I own in. A neighbor who had unit as a rental property forever, like 25 years had a tenant who wanted to buy it. However, he had been depreciationg it down. So it be a big cap gains hit if sold.
He also on his primary had a decent size mortgage as traded up.
The tenant asked him what his basis was if he sold. Meaning if he added up all repairs and improvements how much is max he could see it for and pay no tax.
Tenant came back with this offer. He buy it for full market price on paper minus six percent as no realtor and another six percent as he will take it as is and proposed the following.
The full market price of home of home would be on paper. He would at closing give him a check equal to the current max value he can receive for home tax free. The remaining amount would be a check not made out to him but the bank he holds the large morgage on is current home to pay down a big chunk of the mortgage.
He ended up doing it and got rid of place and tax headache in one day. He also knocked his mortage in half on his main home.
This worked well as buyer has cash and he owned place mortgage free.
The seller well I think it is dubious tax recording but the buyer what seller does on his taxes next year is not his problem.
Hi j1/j2 guy!!
Anonymous
10/28/2025 19:04
Subject: Re:Renter trying to buy
I just sold a property to my tenet. So easy, no realtor involved. I put aside what I need for taxes after sale. I’m waiting to put the money in the market and be headache free.
I own a few properties and simplifying my life and off loading some.
I own a few properties and simplifying my life and off loading some.
Anonymous
10/28/2025 17:41
Subject: Renter trying to buy
How much are the taxes? I'd sell it even if they are $300k.
Anonymous
10/28/2025 17:17
Subject: Renter trying to buy
I had a similar situation in the condo complex I own in. A neighbor who had unit as a rental property forever, like 25 years had a tenant who wanted to buy it. However, he had been depreciationg it down. So it be a big cap gains hit if sold.
He also on his primary had a decent size mortgage as traded up.
The tenant asked him what his basis was if he sold. Meaning if he added up all repairs and improvements how much is max he could see it for and pay no tax.
Tenant came back with this offer. He buy it for full market price on paper minus six percent as no realtor and another six percent as he will take it as is and proposed the following.
The full market price of home of home would be on paper. He would at closing give him a check equal to the current max value he can receive for home tax free. The remaining amount would be a check not made out to him but the bank he holds the large morgage on is current home to pay down a big chunk of the mortgage.
He ended up doing it and got rid of place and tax headache in one day. He also knocked his mortage in half on his main home.
This worked well as buyer has cash and he owned place mortgage free.
The seller well I think it is dubious tax recording but the buyer what seller does on his taxes next year is not his problem.
He also on his primary had a decent size mortgage as traded up.
The tenant asked him what his basis was if he sold. Meaning if he added up all repairs and improvements how much is max he could see it for and pay no tax.
Tenant came back with this offer. He buy it for full market price on paper minus six percent as no realtor and another six percent as he will take it as is and proposed the following.
The full market price of home of home would be on paper. He would at closing give him a check equal to the current max value he can receive for home tax free. The remaining amount would be a check not made out to him but the bank he holds the large morgage on is current home to pay down a big chunk of the mortgage.
He ended up doing it and got rid of place and tax headache in one day. He also knocked his mortage in half on his main home.
This worked well as buyer has cash and he owned place mortgage free.
The seller well I think it is dubious tax recording but the buyer what seller does on his taxes next year is not his problem.
Anonymous
10/28/2025 17:05
Subject: Renter trying to buy
You could do a 1031 exchange if you want. But I agree with the pp that since your tenant will likely buy somewhere else if you say no, you should decide if you want to sell to this tenant or stay a landlord through the process of finding someone new.
Anonymous
10/28/2025 16:59
Subject: Renter trying to buy
Of course you do not want to sell when you have a great long term renter. The first question you should ask yourself is if you will want to sell when the renter leaves. If you want to be a landlord with a new tenant, then don't sell. If you wouldn't want to deal with finding a new renter, then the choices become much more complicated.
Anonymous
10/28/2025 16:15
Subject: Renter trying to buy
Text
I am not selling now but if i change my mind in the future i will let you know.
Thank you for your interest.
I am not selling now but if i change my mind in the future i will let you know.
Thank you for your interest.
Anonymous
10/28/2025 15:25
Subject: Renter trying to buy
Anonymous wrote:Easy, I would sell the house at a fair price and put the proceeds in an index fund after paying the tax that I owe. I have no interest in being a landlord, and certainly not as I get older. Do you have a willing buyer - don’t overcomplicate your life
You must not have read the post. It’s not about what you want in your life.
Anonymous
10/28/2025 13:30
Subject: Re:Renter trying to buy
You answered your own question. If you don't want to sell, tell the renter it's not for sale.
Anonymous
10/28/2025 13:30
Subject: Renter trying to buy
Easy, I would sell the house at a fair price and put the proceeds in an index fund after paying the tax that I owe. I have no interest in being a landlord, and certainly not as I get older. Do you have a willing buyer - don’t overcomplicate your life
Anonymous
10/28/2025 13:27
Subject: Renter trying to buy
I have an older home in nova that has been rented out forever. Its mortgage has been paid off. The current tenant has been living there for about 5 years and has made considerable upgrades on his own dime. They are asking to buy the home from us. I think it’s worth about $1M.
I don’t think I want to sell because I wouldn’t know what to do with the money other than invest it in an index fund. Plus, we would pay significant cap gains tax.
How would you handle this situation?
I don’t think I want to sell because I wouldn’t know what to do with the money other than invest it in an index fund. Plus, we would pay significant cap gains tax.
How would you handle this situation?