Alright. I started
writing an update to this in December.
Then I never posted it. Now a
few months have passed. What’s worse, is
I cannot recall what I wrote about prior to stop writing. And I wonder if google will delete my blog eventually
if I don’t write in it.
I admit that the longer I go without posting the harder it
is to post. When I want to post I tend
to be at work and when I get home I don’t feel like doing anything. I would like to say I could just take 15 min
and write down the day’s events but to be truthful, sometimes it takes more
then 15 min! And I don’t have
time!.
So here is the first
“catch up” post. This concludes
2012… from about Sept/Oct until Dec.
I’ll do a different post for the first two months of 2013 and so on.
Condo:
Ok I don’t know what I said already. I may have mentioned that I lost my
renter. Here is what has been going on
the last few months. In August my
renter took ill and gave me notice.
Actually it may have been in July – but they paid through August. (Needed 30 day notice). So in September I had the condo put up for
sale. At that time I got one decent offer. It was under contract for a time, but the
contract fell through after the potential buyer talked to my neighbors – who
talked up problems both real and imagined.
This was at the Beginning of October.
Then I spent some time making sure things like the furnace was working. I also contacted the HOA about the problems
and got a statement of what was true and what was not.
As one of the problems was a rumor of mold I decided mid
November to get a mold inspection done.
The same day – someone saw the condo and put an offer in. 50k cash.
As I had it for 60 and break even would be about 57-58… I said no. I countered with 55. They said no deal ---- but THEN came back
Friday with , 52 – then 54, then finally agreed to the 55. (All without my knowing… the emails were
within several hours time.). SO I
accepted. Problem was – they had wanted
to close the following Tue originally.
We didn’t think we could do that – so my Realtor (“D”) put in for the day after Thanksgiving. ----
except he didn’t check with the title company.
Turns out they (the title company) were CLOSED the day after
thanksgiving. We found out Monday. So they started trying to get everything
together for a WEDNESDAY (day before t-giving) close. Please note this was only a DAY later then
what the buyers originally wanted. And
they (the buyers) were ok with the Friday close before as well… (They were from
China
and the lady mentioned that they had a flight back…) We thought that doing it EARLIER then the
Friday after thanksgiving would be accepted wholeheartedly. --- Nope.
I had asked D as we were putting together stuff if he had let the BUYER
know about the change in closing and if it was ok. He hadn’t.
so he called them….. they said
“we are so frustrated” and – dropped the
deal again! (YOUR frustrated? -- > what I was thinking.)
However – there was ONE more offer. We had to put the person off because we (“D”
and I) were working the cash one. Since
that feel through we followed up on the third offer. At first the offer was for 55 --- but with
help at closing. I didn’t think I could
swing that so I suggested 56 with the same help at closing. Mathematically it would help me. (Not going to explain everything here – but
it actually saved me more then than the 1k increase.)
I had to fix a bunch of little stuff (cost me 400+ for the
plumber) but at least they didn’t ask me to fix the water heater (which I
really hope works for her for at least a few more years – it is about as old as
the one in my house - 12-14 years – and
I’d rather replace the one in my house….) .
I had to pay the
HOA Management company 300 for a status letter.
I remembered at the last second that that had come up during the whole
cash contract deal. If I had waited,
I’d have had to pay another 100 for a rush job!
In the end I closed a few days before Christmas. The lady who bought the condo – this was her
first place buying anything on her own.
(She was newly divorced. :(
)
She had her father with her – which reminded me of me when I
first bought the condo back in 1998 as my Dad was there at the time. But this time it was just me and my
realtor. My parents DID take me out to
eat after in celebration though. :D
I sold the condo at a loss, and now I’m concerned about
taxes. Supposedly I just need to fill
out a form saying it’s a loss. I can’t
claim a loss, but I won’t have to pay tax on the sale either.
Problem is, last year my tax adviser told me to deduct
depreciation as a rental expense because I rented it. She said I’d have to “recoup” the
depreciation cost when I sell anyway.
BUT what if that makes it a gain!
I don’t WANT to recoup the costs!
And I’m guessing if I never rented it I wouldn’t have to worry about
it. I hope I don’t have to “recoup” the
costs over 14 years (including the 12 I lived in there!) All I want to do is say I bought it at X and
I sold it at Y. We will see and I’ll
update on this later.
No comments:
Post a Comment