You bought a home about 7 months ago and lease the home. The renter moved out so you put it for sale and for rent. You paid $85,000 and you list it for $130,000. Within 2 days you get an offer for $115,000. You will have tax consequences if you sell the home as you have not owned it for year. What would you do?
1. Take the $115,000
2. Counter offer at $125,000
3. Rent the home for another 6 months to a year so the tax consequences will be less.
P.S. For me, I would say to take the money and run. Don't be greedy. A 25% profit is great!
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