Agent

Why not pay all cash for a property?

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

DEAR BOB: What is your reasoning for not paying all cash for a property if the buyer has the funds and wants to cut down on monthly expenses? --Renee DeC. DEAR RENEE: If you buy a "bad house" or a "bad condo" for 100 percent cash, you are the "stuckee" who might not be able to sell that property except to another all-cash buyer. Purchase Bob Bruss reports online. However, if you buy for a modest down payment of 20 percent to 25 percent cash, and obtain an 80 percent or 75 percent mortgage, you won't have a large amount of cash tied up in one property. Of course, if you are independently wealthy and you will never need to see the cash you pay again, be my guest and take the risk of tying up that cash in a bad property. TWO-FAMILY DUPLEX SALE CAN QUALIFY FOR TWO TAX BREAKS DEAR BOB: I own a house with a rental unit. I am selling this property and buying another house with a rental unit. Does the rental-unit sale qualify for a tax-deferred exchange? --Ellen F. DEAR ELLEN: Yes. Sale...