Question About Real Estate and Trusts

[superrific]

Someone ought to sue the bar for antitrust. That is pure job protection and nothing else. It in no way protects consumers.

Man, since when did you become "Cal Trustbuster Heel"?

The bar would be protected by the state action doctrine.

 

[Calheel]

Man, since when did you become "Cal Trustbuster Heel"?

The bar would be protected by the state action doctrine.

Yeah, I know you can’t actually prevent the bar from BS protectionism. But it still sucks and makes it more expensive to buy a house in NC.

Maybe some of those worthless GOP legislators in NC could actually do something to help the free market.

 

[CFordUNC]

Finally just not caught up on reading all of the replies and just want to thank everyone one more time for being willing to help me think through the question I posed in the OP. I really appreciate so many of y'all being willing to share your experiences and expertise. That is one of the many things that makes this community so awesome!

 

[CFordUNC]

1. The realtor is probably unfamiliar with this sort of arrangement. This type of offer has to be new; it only makes sense after a rise in interest rates and we haven't had that for a while. So of course the realtor tells you to talk about it with a lawyer. Realtor gets free information. Ask your realtor their opinion if you tell them, "If I do talk to an attorney, I'm not going to tell you what I learn." OK, don't and you wouldn't, but use it as a thought experiment.

2. The remedy sounds good but is actually useless to you. Do you want the deed on your house? You do not. You want to sell the deed. So a provision giving it back to you if the Buyer fucks up isn't all that helpful. Especially since the Buyer isn't going to just hand it over. You're going to need a lawyer to sue, and you're not even going to be in state,

3. Even if it's a bona fide deal, why? Didn't you say you're going to be making nearly 750K as a household? If so, why the fuck do you care about getting your full ask? I don't know the numbers, but let's say you're listing at 400K. This offer comes in at 400K; maybe you get another offer that comes in at 370K.
Is it worth the risk and all the potential headaches to get that extra 30K, which is about 5% of one year's income even after tax? I mean, here's one lesson of living an upper middle class lifestyle that people don't often appreciate: the whole point of making 750K a year is that you no longer have to sweat the details. Sure, you can buy fancier cars and a vacation house and everything, but the most important benefit -- in my view, at least -- is anxiety reduction. It's that you don't have to sift through the details of bizarre offers because you don't really need the money. I mean, if you're a climber who wants someday to have a net worth in 9 figures, it's different -- those people live for these types of bizarre offers because money in their pocket gets them hard. I don't take you for that type of person.

Really appreciate your taking the time to write all of this out. It was helpful for me to consider all of these points.

I have an absolutely awful psychological relationship with money, and I know that about myself. It's definitely a flaw and a shortcoming of mine, to have such an intense scarcity mindset. It stems from my upbringing where finances were such a horribly contentious topic in my household.

 

[Patb78]

And one of my real buddies 50 years ago grew up to make $500,000 a year closing fairly simple residential real estate deals in a small-medium size town It was kind of mind numbing I suppose but he always had excellent wine lol

“Yes he always had some mighty fine wine.”

 

[mpaer]

I have an absolutely awful psychological relationship with money, and I know that about myself. It's definitely a flaw and a shortcoming of mine, to have such an intense scarcity mindset. It stems from my upbringing where finances were such a horribly contentious topic in my household.

CFord-I never gloss over your posts Always glad when you do post
I am not going to comment on your personal relationship with money but since you brought it up!!
Odds are real high your child (maybe children) will grow up in the "other end of the spectrum " from your childhood. My cheap advice is to have real conversations-like on a regular basis - with your wife about how you will "act " in regards to your offspring and money. I am sure you won't "spoil them "-that you will instill a good work ethic in them
But if as young adults they are not destined to have a high paying career...How will you help them?
I have no right answers-but it is big deal. For Example you -worse case-you don't want to "manipulate them" into doing stuff they may not want to do just to stay in your financial favor. Or maybe you do ?
It can be a big deal in your relationship with your kids when they are 40-50-60........