So I'll try to make this as short and sweet as possible.
June 12th will be exactly 2 years of owning my condo. If I close even 1 day before then, I have to pay capital gains tax (about $10k total which is a lot of mulah when we're using the money from the sale of my condo to buy another home).
There is also a problem with some small pipes in my condo, so there is a possibility we may go into litigation but I don't know when. But if we do, I can only sell to cash buyers.
My condo is in a very desirable area. Two other units went pending after 10 and 20 days. I put my condo on the market this past Thursday.
This morning my Realtor emailed me with 2 offers. Pretty cool except they both want quick closings (end of this month).
One is a cash offer $5k under asking price, so even if we closed after my condo goes into potential litigation, there is no issue. The other is full asking but contingent on their home closing.
I plan on having my Realtor tell them there are multiple offers and to submit their best offer.
Anyways, my question is, if neither of them can agree to close after June 12th, would you wait for more offers or just suck it up and pay the $10k come tax time and chose one the best offer out of these two?
I don't think I'd have any problem getting more offers, but do I want to take that chance?