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Eric and Kathie were excited when Skyla was born in June. They had purchased their home just a year before that. It was perfect for them and their dog Maka. Soon after moving in Kathie became pregnant. It became apparent that a home more suitable for a family was a necessity. But they had to wait because of the IRS 2-year ownership regulation to avoid paying taxes.
During November a property came on the market that was perfect for them. The house was vacant and had been reduced in price. They realized that this was an opportunity so we negotiated a long escrow giving them plenty of time to re-finance their existing house. They used the equity from the refinance for a down payment on the new house. We suggested leasing their previous home for a short term. The rent received would cover most of the payment. They would then put the house on the market in the spring to accommodate a June closing. They moved from a 2100 square foot 3-bedroom home to a 3400 square foot 4-bedroom plus bonus room. The sale of the previous home would be about the same price they paid for their new home (because we negotiated such a good buy)! This is the type of real estate consulting that we provide to our clients and their referrals. |