Legal Question in Real Estate Law in California
Deliberately taking a loss when selling property...
We have a little vacation
home outside of a
popular valley resort/ski
town. It's an almost-
new manufactured
home, 4 bdrms 2 full
baths.
Recent health issues
had us putting it up for
sale in January.
We see the
neighborhood changing,
with loads more folks
moving in and renting
and having multiple
families under one roof.
Because of the multiple
family thing, we really
don't want to rent it, as
we feel there will be
more wear and tear on
the house, more
repairs, etc.
We�ve noticed the police
roster is more and more
full of crime, complaints
about noise, theft, and
we see groups of tough
looking teenage boys
running loose.
Considering the changes
in the community, we�re
seriously thinking to sell
quickly and take a loss.
What things should we
consider before we
determine that selling it
at a loss is the right
thing to do? It would
be different if we felt
better about renting it
out, because we could
maybe ride out this
realty market, but I
really think that would
be a bad decision.
Thank you!
1 Answer from Attorneys
Re: Deliberately taking a loss when selling property...
You need consulting and my CA attorney is a real estate broker. Let me know and I'll put you in touch with him. Paying for good advice is the only smart thing to do when you're dealing with real estate.
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