Selling my condo to invest into a business
The bank was not involved
Shortly after I graduated school, I got hired at a fencing corporation. Over the years, I learned the ins & outs of installing & repairing all bizarre types of fences. Because the company is based in Jacksonville, Florida, holding up to strong winds, moisture & UV light is especially pressing for residential & commercial fences. I eventually enrolled in a welding school & got certified. I advanced through the ranks & became a crew chief. Not many of years ago, the owner of the company decided to retire. She was looking for someone to buy her business. The purchase required a sizeable down payment. Even securing a bank loan, I couldn’t afford it. I decided to sell my dwelling & invest the proceeds into the fencing business. My biggest hurdle was time. The owner of the fencing company had additional offers besides mine. Although she preferred to sell to me, she was only willing to delay for so long. I needed to sell my dwelling suddenly. I needed to get the full amount into my bank account as soon as possible. Going through a real estate agent & attempting a traditional listing would never have worked. The sale of a home in Jacksonville can take months. There are inspections, appraisals & bank mortgages to worry about. There is the certainly real potential of needing to make expansive repairs or the deal falling apart altogether. I couldn’t take that risk. Instead, I worked through a cash home buyer. The completion of the sale was especially smooth & quick. I was able to get a cash offer in a single morning. There was no haggling or expectations of repairs. The bank was not involved. My buddy and I busy the closing for ten days later. I gained the entirety of the amount.