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Old 03-25-2021, 01:46 PM
 
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I'm at the point now where I'm considering selling a rental condo I have in Mass.. I would be going through a realtor, as I'm living out of state and am not at all savvy in that area. Thing is, I have zero interest in selling to any investor (and they have been relentless lately, to say the least). Private party/live-in buyers only please. Is that at all kosher, in other words are there any discrimination/"protected class" type clauses that would complicate this? Forgive me, I honestly know nothing about it.
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Old 03-25-2021, 01:57 PM
 
Location: Needham, MA
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Totally fine! Here in Needham we get a lot of sellers who say "I don't want to sell to a developer!" because they don't want to see the house torn down. Ultimately, many do sell to developers anyway as they get offered a better sale price and terms than they receive from "end users." However, people like developers and investors are not protected classes and therefore you can discriminate against them at will.
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Old 03-25-2021, 01:59 PM
 
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Quote:
Originally Posted by MikePRU View Post
Totally fine! Here in Needham we get a lot of sellers who say "I don't want to sell to a developer!" because they don't want to see the house torn down. Ultimately, many do sell to developers anyway as they get offered a better sale price and terms than they receive from "end users." However, people like developers and investors are not protected classes and therefore you can discriminate against them at will.
I imagine the idealism goes out the window real fast when an offer is $50K or $100K higher.
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Old 03-25-2021, 02:02 PM
 
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Originally Posted by fabfan84 View Post
I imagine the idealism goes out the window real fast when an offer is $50K or $100K higher.
If you have a few mill in your IRA and your Newton property is already netting $1mill+, I'm sure you can ignore an extra $50k.
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Old 03-25-2021, 02:06 PM
 
23,560 posts, read 18,707,417 times
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Quote:
Originally Posted by MikePRU View Post
Totally fine! Here in Needham we get a lot of sellers who say "I don't want to sell to a developer!" because they don't want to see the house torn down. Ultimately, many do sell to developers anyway as they get offered a better sale price and terms than they receive from "end users." However, people like developers and investors are not protected classes and therefore you can discriminate against them at will.
Sounds good, thanks!

The association does have a cap in place anyway on the ratio of investor/non-resident owned units, and I'm not sure where they are at the moment. This simplifies things though.
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Old 03-25-2021, 02:08 PM
 
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Originally Posted by Shrewsburried View Post
If you have a few mill in your IRA and your Newton property is already netting $1mill+, I'm sure you can ignore an extra $50k.
I bet they don't ignore even 10,000.
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Old 03-25-2021, 02:15 PM
 
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Originally Posted by lampert View Post
i bet they don't ignore even 10,000.

+1
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Old 03-25-2021, 02:44 PM
 
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Originally Posted by Lampert View Post
I bet they don't ignore even 10,000.

Who is "they"? Speak for yourself please.
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Old 03-25-2021, 03:38 PM
 
Location: The ghetto
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Why would you care who buys it and/or what their plans are?
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Old 03-25-2021, 03:48 PM
 
23,560 posts, read 18,707,417 times
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Originally Posted by redplum33 View Post
Why would you care who buys it and/or what their plans are?

Because I do not do business with investors, if I have the choice. They can look elsewhere.
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