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Selling a pre-sale unit

By July 19, 2007

There’s a question in the forums about selling a pre-sale unit:

My husband and I bought a presale unit in a condo in Seattle six months ago fully expecting to move in when the building was ready. Now, for a variety of personal and job related reasons, we decided that we will be moving out of Seattle in the next few months. We’re wondering what to do about the condo. We can’t afford to buy it and rent it out as an investment, we would probably lose a lot of money paying RE commisions and taxes if we sold it immediately after closing, and walking away from the earnest money would wipe out most of our hard-earned personal savings.