Smart buyers, whether purchasing a house, condo,
or investment property, should always ask why is the seller selling? If it’s
the seller’s home, the reason might be to earn a big tax-free profit (up to
$250,000 for a qualified principal residence seller, or up to $500,000 for a
qualified married couple selling their principal residence, thanks to Internal
Revenue Code 121). Or, if it is a rental property, the seller might be making
an Internal Revenue Code 1031 tax-deferred exchange for a larger investment
property.”
or investment property, should always ask why is the seller selling? If it’s
the seller’s home, the reason might be to earn a big tax-free profit (up to
$250,000 for a qualified principal residence seller, or up to $500,000 for a
qualified married couple selling their principal residence, thanks to Internal
Revenue Code 121). Or, if it is a rental property, the seller might be making
an Internal Revenue Code 1031 tax-deferred exchange for a larger investment
property.”
This link is probably no longer good, but it is
good information –
“Ask
“Why is the seller selling?” to discover if the seller is highly motivated (if
you are a seller, ask why the buyer wants to purchase your specific property).
Smart buyers, whether purchasing a
house, condo, or investment property, should always ask why is the seller
selling? If it’s the seller’s home, the reason might be to earn a big tax-free
profit (up to $250,000 for a qualified principal residence seller, or up to
$500,000 for a qualified married couple selling their principal residence,
thanks to Internal Revenue Code 121). Or, if it is a rental property, the seller
might be making an Internal Revenue Code 1031 tax-deferred exchange for a larger
investment property.”
good information –
“Ask
“Why is the seller selling?” to discover if the seller is highly motivated (if
you are a seller, ask why the buyer wants to purchase your specific property).
Smart buyers, whether purchasing a
house, condo, or investment property, should always ask why is the seller
selling? If it’s the seller’s home, the reason might be to earn a big tax-free
profit (up to $250,000 for a qualified principal residence seller, or up to
$500,000 for a qualified married couple selling their principal residence,
thanks to Internal Revenue Code 121). Or, if it is a rental property, the seller
might be making an Internal Revenue Code 1031 tax-deferred exchange for a larger
investment property.”
I tell all
of my clients that while money is a large factor, it it not always the
determining factor. Ask questions – lots of questions and LISTEN. One’s true
motivation for buying or selling, may be revealed. If at all possible, try to
come to a win-win solution.
Interested in Learning More?
I have been been representing buyers and sellers in Charlottesville, Albemarle, and Central Virginia since 2001. Get local insight born of experience.
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