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Old 12-28-2012, 09:19 AM
 
673 posts, read 1,233,337 times
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Can someone explain to me the purpose of selling your house to company A and letting company A sell it to the buyers at a loss? 30 Raymond Lane looks like an odd piece of transaction.

On Dec. 20, Johnnie Lee and Daryl Branch sold the property at 30 Raymond Lane to National Revenue Nominee Services, Inc. for $975,000.
On Dec. 20, National Revenue Nominee Services, Inc. sold the property at 30 Raymond Lane to Sean and Christie Burrows for $750,000.

Home on Silver Spring Road Sells for $1.05M - Wilton, CT Patch
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Old 12-28-2012, 10:08 AM
 
Location: Connecticut
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It is likely that the sellers were transferred and that the first buyer is the company hired by their employer to sell their home and help them buy a new one. This is not uncommon for key employees that a company wants to relocate with minimum problems. I think what happens is the company takes over the house for a time but the transfer is not recorded until the day of the sale to another party. That is why it shows up all happening on one day. Jay
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Old 12-28-2012, 10:25 AM
 
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Jay has it exactly tight. The first seller is a relocation company. The first sale is not actually a sale, but the relocation company's buyout figure.

They were involved with actual owner of the home months before they actually recorded the actual buyout price. They arrived at their $ 900,000+ figure by having two appraisals and a real estate agent's value submitted to them and then arriving at their buyout price.

The relocation company most often will not actually take over legal ownership on a home until they close an actual sale on their end. That's why you're seeing the what seems to be a dual sale on the same day.

Is the relocation company losing money ? No, the second seller's employer is, as they are the ones also paying the relocation company. However, they just write it off as a cost of doing business.
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Old 12-28-2012, 01:49 PM
 
673 posts, read 1,233,337 times
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Your answers are much appreciated! thanks
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