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Ask Dave

Cut Loose and Get Out

Janice and her husband are about to pay some stupid tax because they bought a second home and are struggling to sell the first one.

QUESTION: Janice and her husband got married two years ago and he lost his job. They had moved by this point and they took out a bridge loan on it; they need to sell it. Dave says selling the house is a matter of price and beauty, and if it costs a few thousand in stupid tax to sell it, then so be it.

ANSWER: The house will sell at some price in every market. It’s a matter of price and not if it’s ugly or not. The fact that you bought a house when you hadn’t sold the other one will cost you some money. You guys are getting ready to pay some stupid tax. Get real serious about deeply cutting the price and selling this house. If you pay some money, it’s just stupid tax that you have to pay.