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!


Asked on 5/01/07, 10:08 pm

1 Answer from Attorneys

Johm Smith tom's

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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Answered on 5/01/07, 10:37 pm


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