5 ms·
Felt this when I bought my first house and a week after the sale finalized, my situation changed dramatically and unexpectedly. I needed to move across the coun
by corysama 2y ago
Felt this when I bought my first house and a week after the sale finalized, my situation changed dramatically and unexpectedly. I needed to move across the country, but the HOA had a strict No Renters clause.
So, I had to choose between 1) Spend 30 years paying the mortgage for a house no one can use. 2) Turn around and sell the house I just bought.
- em-bee 2y agothat's why i don't like to buy property. presumably you didn't want to just sell again because of the effort involved. if buying and selling was easier and guaranteed to never sell at a loss, then this would not be an issue. how did you resolve the problem?
- corysama 2y agoI ate it. Turned around and sold at a small loss on price, bigger loss on all the costs associated with the process.
- em-bee 2y agodo you think you could have avoided a loss if you were not under pressure to sell, but say, had a few months of time before the move and find a good buyer?
- corysama 2y agoI did have a couple months. Was still rough. However, the market turned downward later and I think the buyer sold at a bigger loss after five years or so. So, could have been worse.