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Message
re: Needing advice on a home purchase
Posted on 10/3/22 at 6:45 pm to lynxcat
Posted on 10/3/22 at 6:45 pm to lynxcat
quote:
I’m not understanding the 33% discount logic? Your 100K of value via inheritance doesn’t count as a “discount” it’s just your brothers would be having a liquidity event and you would have the house.
Exactly. I didn’t follow him on that either. If the house sells at the stated figure, he would have $100K in hand regardless. He could put that down on some other house, but that wouldn’t represent a discount either.
As others have stated, I think it just comes down to whether or not he wants this particular house.
This post was edited on 10/3/22 at 6:46 pm
0
Posted on 10/3/22 at 7:32 pm to Bob Johnson
quote:
Ultimately land creates wealth. Property for sale at 33% discount. What?!!! Where?!!!
I don’t understand this mindset. The house costs $300k. He is tying up $100k into it when he buys it and financing the rest.
Posted on 10/3/22 at 8:16 pm to slackster
Were the brothers planning on putting the house on the market if it wasn’t sold to family? If so, they are saving 5-6% in realtor fees and that should be factored into the family price.
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