i sold the house i lived in, & inherited. it was reduced for quick sale,threatened W/foreclosure,listed @489,000-they countered &brought me down to 465,000. sold to them to be used as their primary residence (3mnths ago),they turned around -did some work on it,& have it listed 4-sale already for the price of 625,000. isnt this against the law?
2007-12-04 04:15:04 · 6 answers · asked by Michelle S 1 in Politics & Government ➔ Law & Ethics
Sorry, no results for "sorry- i guess i didnt clarify enough...yes ,there was a disclosure re:primary residence. And sorry No,there is more to the story than this-and i did not have the advantage of doing the fix up myself. and no, they do not actually reside in the home."
2007-12-04 06:50:59 · update #1
They bought it, they can do what they want with it unless you put some stipulation in the contract.
2007-12-04 04:21:18 · answer #1 · answered by Michael C 7 · 2⤊ 0⤋
No. You may feel like you got a raw deal, but you could have done some work and sold it for 625 also.
There may be some tax issues for the people who bought the house. Like they may have to report gain on the sale (whereas if they lived in the house for two years they wouldn't have to), but there is nothing illegal about getting a good deal, making improvements, and selling at a profit.
2007-12-04 04:26:16 · answer #2 · answered by StressedLawStudent 4 · 0⤊ 0⤋
No. What you are probably thinking of is long term capital gains treatment. People will sometimes live in a house for a few years so when they sell it they have better tax consequences. However, this is not mandatory--just good tax planning. Flipping is legal. If it makes you feel better, they probably won't get near $625,000 for it.
2007-12-04 04:26:35 · answer #3 · answered by BCP 2 · 0⤊ 0⤋
Not unless your sale contract imposed conditions on the sale. If they are currently living in it, it is their primary residence. In this housing market, it may take some time for a new sale to happen.
2007-12-04 04:35:57 · answer #4 · answered by browneyedgirl623 5 · 0⤊ 0⤋
Of course not. ANyone may find a job and have to move, or found a better home and sell a newly acquired property
2007-12-04 04:21:57 · answer #5 · answered by wizjp 7 · 1⤊ 0⤋
I have scanned most of your answers, some make very good points. All the answers speak of women, there are also male prostitutes. If it was legal it could be controlled in a safe environment. Health issues would also be controlled, by mandatory check ups. Places where it is legal have lower instances of rape, because men have a legal outlet. People seem to think prostitutes are forced into this life, but the Chicken Ranch, in Nevada, has a waiting list of job applicants. From a businessman's point of view, its a great business. You have a product, you sell it, you still have it. No one brings it back, and says it doesn't fit, smells bad, or taste funny. In my youth, I worked in a cat house in New Jersey. I was the gun that kept the girls safe. We had a great workplace environment, and the tips were fantastic.
2016-05-28 03:45:46 · answer #6 · answered by kaitlyn 3 · 0⤊ 0⤋