I Want To Sell My House....

in a way that I want to be flexible and yet benefit from it. I'm not facing foreclosure nor any of those kind of stuff.

Just want to sell my house and buy a house near my work place.... most likely a two family. In this way, i can start my real REI experience....

Can anyone give me an advice to benefit on my sale and acquire the house I wanted. Below are the details of my plan.

My 1 year old house remaining principal is 249,000. I want to sell it for 350,000 at max (other comparative houses in the area sells at 355,000 and 359,000). I could go as low as 345,000 as long as i don't pay any commissions. My location is in Mt. Olive New Jersey. I will be needing the cash value as a downpayment, closing and moving expenses for the house I wanted to buy which is described below. I also know that I'm exempted of the capital gain taxes for around 125,000 due to my mileage/distance from work is more than 50 miles.

My friend is selling his 2 family house in Jersey City and is moving south by August. He also doesn't want to pay commissions. He is giving me the house for 375,000. His house is about 6 to 7 years old. I believe he is needing the money for his downpayment and closing costs.

Currently, I'm just stuck with the conventional selling and buying. I would really appreciate it if you can give me an advice on different approaches to this kind of situation.

Thanks to all in advance....

Comments(1)

  • TheShortSalePro6th January, 2004

    List it for sale... sell it. Get your money to move on. Be done with it. Nice and easy. Why complicate matters?

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