What do you mean I am not going to profit from my sale?
I bought my apartment in 2007 and now I need to sell it.
Let’s face it, we hear this all the time from sellers, especially when they bought it in the height of the market.
One thing that is important when the property falls into “the height of the market sale,” and the seller is going to walk away with less than they purchased the apartment for, here is something to keep in mind.
Let’s say that if they did not own this unit and had been renting in an apartment with the same specs……
If the unit was costing them $3000 per month to rent and thy lived in the apartment for 3 years, then they would have spent approx. $108,000 and never owned a thing. I know that the $108k is a lot of money, but it may be able to soften the blow a bit at the closing table. It should certainly be put into the equation on whether or not to sell or even to use for some mental comfort.