All Forum Posts by: Jim Vinh

I am looking for a listing agent to sell my house next week. Is it fair or common to ask if the agent will represent the seller side only? I believe most agents would like to represent both selling and buying sides since it will mean more commission $, but I can see a conflict of interest there. A listing agent would favor offers from buyers that they also represent, wouldn't they? Thanks in advance for all comments.

Thanks everyone for your comments and valuable suggestions (I will certainly reread all posts multiple times and gather all your suggestions). I will interview a small number of listing agents, ask lots of questions, and hopefully be able to pick out a good agent/team with a strong network. Your replies do make me feel better heading into this adventure. Cheers.

I am ready to sell my house to get ready to retire. I don't know any listing agent personally. My question is: in the current seller market, is there a way for the owner to oversee the selling agent so that they don't just show their friend's offer as the highest offer (and throwing away higher offers from other buyers). Is this simply a matter of having to trust your listing agent (whom you don't really know)? Close to where I live, there are homes selling for several hundred thousands over asking price. Did those home owners just totally depend on their listing agents to bring in the highest (or most qualified) offers? Thanks in advance for all comments.

Thanks for the additional insight Jack. What you have mentioned is very interesting and is definitely news to me.

Thanks for the clear explanation Bill. I guess it is difficult to avoid the tax man in my case. Did you imply that if the property was initially my primary residence, then the 2/5 rule will apply? I am asking for potential planning regarding my current primary residence? Thanks.

I have a SFH that I have rented out for 9 years. There is quite a bit of capital gain on it (about 500K). I am thinking about selling it now that I am about to retire (and the market is high). If I make my this rental property my primary residence in the next 2 years before selling it, is it as simple as:

1) owning the property for 5 years 

2) live there for 2 years,

then when we sell, the capital gain could be reduced by the $500K (primary residence), or is it more complicate than that? 

I understand the recapture tax will need to be paid in either cases.

If I can get the $500K capital gain exclusion, it may be worth it for me to move there and not sell it now. My advanced thanks to all comments/replies