Pitfalls of selling on Craigslist
lucillle
9 years ago
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Alisande
9 years agoarcy_gw
9 years agoRelated Discussions
Selling tree and shrub seedlings on Ebay or Craigslist?
Comments (3)Call the MN dept of Ag and tell them you want to apply for a nursery stock grower license. Plan to meet the inspector and explain exactly what you want to do, and they can explain which certifications you will need, and what costs you will run into. You need a license to sell within Minnesota, and when you sell across state lines your product must comply with the other states' laws, as well as federal pest quarantines, such as for gypsy moth and japanese beetle....See Morerent to own pitfalls?
Comments (12)The renter is often at more risk than the landlord. the renter is betting you will be able to deliver clear title at some future date. You could mess up ad have an IRS lien attached . Have separate contracts drawn up for the lease and have him give you a non-refundable deposit on an option to purchase. The option often sets the price and terms of the purchase. The option price is to give him an incentive to maintain the place (or at least not do any excessive damage) and you the money needed to bring it back to salable condition. From your view point, more money is better. He of course would prefer less. Your risk is for a wild price increase during the option period. I have sold a couple houses as actual rent-to-buy type contracts. Both went to professional level folks with medical related bankruptcies. Both worked out well. I gave a rent credit, and the option price had an 'increase clause'. Both couples got back on their feet quickly and exercised the purchase option in less than 18 months. Both behaved far more like owners from the get go, likely reenforced by making them responsible fr AL maintenance during the option period. Without needing to set aside rent money to cover maintenance issues, the credit they got did not really hit my finances. Make sure you have a very good RE attorney draw up the agreements. This post was edited by brickeyee on Sun, Jun 2, 13 at 8:39...See MoreWhat are the pitfalls to this idea?
Comments (9)Hmmmm, I would certainly think about it carefully as it may have (state and federal income) tax repercussions. A married couple has a larger protected whack when it comes to capital gains tax than a single person on transfer of real property. It sounds like she's proposing to quit claim her interest to him, but she can't assign her share of that tax protection. And if he's buying her interest out, even if little cash is exchanged because the bulk of the division of marital assets is in the form of equity in the new house, it can get complicated. What may need to happen is a slightly different transfer between them in order to fully use her capital gains tax protection while she can, and give him a stepped-up basis after the transfer. I am definitely not a lawyer, but it might be better for both of them to sell the property to him, not just use a simple release of the ownership interest from one to the other. Definitely recommend a competent tax and divorce lawyer review, in order to not leave any potential asset unrealized (by either parrty), nor leave an unexpected tax bill when the properties are eventually sold at some time in the future. Depending on their ages, there also might be issues with a seemingly below market property disposition if one or other needs Medicaid assistance to cover nursng home care at some point soon. Adding a lawyer to an otherwise amicable divorce can seem counter productive. But one can make it clear that the lawyer is just there for tax and legal expertise, not advice on how to maximize one person's share of the property division.. This stuff can be tricky. But it shouldn't cost a lot to just get this kind of problem-avoiding and problem-solving advice. HTH L....See MorePlease help -- I need advice on selling on Craigslist
Comments (21)Bac, I doubt that anyone would question your handling of your CL items. You do the best you can do with a situation that can become a little tricky when you have lots of interest but little follow-thru. And I agree.......the scenario where you list your item, get one response, and the person buys right away, is super nice! I listed an old buffet back in April and that's how my sale went. (I did get an email from a scammer, but after I replied to them, it became apparent what they had in mind.) Someone emailed a question, I replied and told her to give me a call if she wanted to come see it. Soon, I got a text from her and she wanted to set up a time. I texted back, we went from there and she showed up--bought it on the spot. No other replies, but, as my husband noted..........you only need one person with money and a truck to haul it off! To date, I have bought 3 buffets and one dining set off Craigslist, where I have had to really travel. The dining set was 90 minutes away in a storm, the various buffet trips were each about 3 hours. Now, that's where you need to have a committed buyer and seller and work out details very carefully. In each case, after the initial email where I asked more questions, got back answers and phone number from the seller, I told them where I lived and asked if I could come see it (Saturday or whatever day I had in mind) if they still had it at that time. As a buyer who has other obligations, (work, children in school, distance to drive, etc.) you really have to connect with the seller right before you get ready to leave to come see. So, you must face the fact that that seller might have another buyer 5 minutes away that is in the right place at the right time to buy and your item won't be there when you find the time to come. I see that just in the same way as a "Macy's Super Saturday Sale". If I can't get there on Saturday, I don't get the benefit of the sale. No matter how badly you may want to buy their item, if you can't get away to see it before others start banging on their door, you lose out. Anyway, once I had phone numbers (love people who put them in the ad, saves so much time and hassle!) I called and we talked. I asked about coming on my chosen day and told them to call me if there was a problem. I also told each seller that I would call as I left town and they agreed to that. To me, that guaranteed that I was serious and on my way. Each person was waiting and in expectation of me when I arrived. And I had no fear that they would sell out from under me once I was en route. On the other hand, when I am local and can't get away right away to view the item, I tell the seller that I would like to come see after work, and that I will call to make sure it is still available. Red...See Moremama goose_gw zn6OH
9 years agoAlisande
9 years agoarkansas girl
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