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Post by Deleted on Jun 13, 2019 9:55:56 GMT -5
I've decided to sell my house to the growers next spring and have started doing the work to be able to do it.
They are putting in exponentially more grows this year and I am now surrounded. In the 10 streets or so in the section where I live, we have over 100 grows with 150+ plants each on them!
While I don't care about the pot itself, we now have hundreds of growers here living in sheds, illegally burning, and all kinds of other fun... My quiet area is now water trucks driving by and pumping water 24/7. They store water in open pools, so mosquitoes are a huge problem.
Their security follows everyone around, including myself and everyone who visits. The other day they followed me to the mailbox then proceeded to sit and film me as intimidation. A few days later, one of their leaders went on my FB page and liked all the public photos of my dogs. WTF?
I ordered an appliance and the delivery driver said they are harassed so much when they enter the area that they won't be delivering here much longer. Same if you call for a plumber, etc... as soon as they hear where I live they are suddenly way too busy to come here.
Honestly, I'm 1000% over it.
My current plan is to sell to the Hmong cartel, buy a decent used truck with a camper shell or a larger SUV, and head out on an adventure with my dogs. I plan to visit some of the rockhounding sites I haven't been able to visit previously, do some hiking and exploring, and look for property along the trip.
I don't want to buy property without spending time in an area and calling up the well driller, etc... to ensure I don't end up with crappy property like this one. And, I have a couple potential areas I am interested in. A couple in eastern OR, a couple in No. NV.
I hear the growers prefer to avoid title companies and will pay cash for a quit claim deed. I'd love to do the sale this way because it would give me the maximum cash for my house.
I guess my question is if I have a bill of sale and a quit claim deed, what happens if I deposit $180K+ in cash into the bank? Obviously, they are laundering mob cash, but I don't really care and I assume no one could actually prove that the way they do business.
While I know this triggers the government to look at the deposit, is there any issues other than that? I would have the buyer meet me at the bank, and would not be transporting cash. I can see how that might go...
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Deleted
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Post by Deleted on Jun 13, 2019 10:13:56 GMT -5
Why wait until next Spring? I'd sell it right now if they are offering to buy.
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Pants
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Post by Pants on Jun 13, 2019 10:22:16 GMT -5
I've decided to sell my house to the growers next spring and have started doing the work to be able to do it. They are putting in exponentially more grows this year and I am now surrounded. In the 10 streets or so in the section where I live, we have over 100 grows with 150+ plants each on them! While I don't care about the pot itself, we now have hundreds of growers here living in sheds, illegally burning, and all kinds of other fun... My quiet area is now water trucks driving by and pumping water 24/7. They store water in open pools, so mosquitoes are a huge problem. Their security follows everyone around, including myself and everyone who visits. The other day they followed me to the mailbox then proceeded to sit and film me as intimidation. A few days later, one of their leaders went on my FB page and liked all the public photos of my dogs. WTF? I ordered an appliance and the delivery driver said they are harassed so much when they enter the area that they won't be delivering here much longer. Same if you call for a plumber, etc... as soon as they hear where I live they are suddenly way too busy to come here. Honestly, I'm 1000% over it. My current plan is to sell to the Hmong cartel, buy a decent used truck with a camper shell or a larger SUV, and head out on an adventure with my dogs. I plan to visit some of the rockhounding sites I haven't been able to visit previously, do some hiking and exploring, and look for property along the trip. I don't want to buy property without spending time in an area and calling up the well driller, etc... to ensure I don't end up with crappy property like this one. And, I have a couple potential areas I am interested in. A couple in eastern OR, a couple in No. NV. I hear the growers prefer to avoid title companies and will pay cash for a quit claim deed. I'd love to do the sale this way because it would give me the maximum cash for my house. I guess my question is if I have a bill of sale and a quit claim deed, what happens if I deposit $180K+ in cash into the bank? Obviously, they are laundering mob cash, but I don't really care and I assume no one could actually prove that the way they do business. While I know this triggers the government to look at the deposit, is there any issues other than that? I would have the buyer meet me at the bank, and would not be transporting cash. I can see how that might go... Your taxes. If you don't reinvest the money in another home, you will have to pay taxes on any increase in value between purchasing and selling, I believe.
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Deleted
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Post by Deleted on Jun 13, 2019 10:40:58 GMT -5
Your taxes. If you don't reinvest the money in another home, you will have to pay taxes on any increase in value between purchasing and selling, I believe. I'm pretty sure you can exclude up to 250K in gains on a primary residence as a single person as long as you've lived in the house at least 2 years.
eta: Looked it up.
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TheOtherMe
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Post by TheOtherMe on Jun 13, 2019 10:41:09 GMT -5
I've decided to sell my house to the growers next spring and have started doing the work to be able to do it. They are putting in exponentially more grows this year and I am now surrounded. In the 10 streets or so in the section where I live, we have over 100 grows with 150+ plants each on them! While I don't care about the pot itself, we now have hundreds of growers here living in sheds, illegally burning, and all kinds of other fun... My quiet area is now water trucks driving by and pumping water 24/7. They store water in open pools, so mosquitoes are a huge problem. Their security follows everyone around, including myself and everyone who visits. The other day they followed me to the mailbox then proceeded to sit and film me as intimidation. A few days later, one of their leaders went on my FB page and liked all the public photos of my dogs. WTF? I ordered an appliance and the delivery driver said they are harassed so much when they enter the area that they won't be delivering here much longer. Same if you call for a plumber, etc... as soon as they hear where I live they are suddenly way too busy to come here. Honestly, I'm 1000% over it. My current plan is to sell to the Hmong cartel, buy a decent used truck with a camper shell or a larger SUV, and head out on an adventure with my dogs. I plan to visit some of the rockhounding sites I haven't been able to visit previously, do some hiking and exploring, and look for property along the trip. I don't want to buy property without spending time in an area and calling up the well driller, etc... to ensure I don't end up with crappy property like this one. And, I have a couple potential areas I am interested in. A couple in eastern OR, a couple in No. NV. I hear the growers prefer to avoid title companies and will pay cash for a quit claim deed. I'd love to do the sale this way because it would give me the maximum cash for my house. I guess my question is if I have a bill of sale and a quit claim deed, what happens if I deposit $180K+ in cash into the bank? Obviously, they are laundering mob cash, but I don't really care and I assume no one could actually prove that the way they do business. While I know this triggers the government to look at the deposit, is there any issues other than that? I would have the buyer meet me at the bank, and would not be transporting cash. I can see how that might go... Your taxes. If you don't reinvest the money in another home, you will have to pay taxes on any increase in value between purchasing and selling, I believe. This is what the government will be looking for. The cash came from somewhere and it should end up on a tax return. Don't know about the paperwork.
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bean29
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Post by bean29 on Jun 13, 2019 10:43:38 GMT -5
I thought your already sold to them? Did you sell your first property to them, and now are having problems with the second one? or, did you never sell it to begin with?
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Tiny
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Post by Tiny on Jun 13, 2019 10:48:03 GMT -5
Your taxes. If you don't reinvest the money in another home, you will have to pay taxes on any increase in value between purchasing and selling, I believe. If this house is a Primary Residence then I think up to $250K of "profit" is tax free if the homeowner is single (I think it's upto $500K if married). I think you need to live in the residence 2 to 5 years? for it to be considered your primary home. The taxes on the sale of property get alittle trickier when it's a second home or investment property. That's when ALL of the "profit" is taxed as income unless you do a Starker exchange (or something like that). Depending on the amount of "profit" (how much you will pay in taxes on it) it might not make sense to pay for the exchange paperwork or another property. The taxes are only on the "profit" part of the sale - not on the full sale amount.
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Tiny
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Post by Tiny on Jun 13, 2019 11:17:09 GMT -5
While I know this triggers the government to look at the deposit, is there any issues other than that? I would have the buyer meet me at the bank, and would not be transporting cash. I can see how that might go... I don't think it triggers much of anything - if you have the paper trail of the sale. What "rules" does your county(and city) have for transferring property? I just sold a house without a realtor, but I did have a lawyer and the loan officer of the buyer taking care of everything. The lawyer handled all the transfer fees/paperwork for the County and the City. The mortgage bank handled the title check, inspections, etc. I realize there's no "mortgage" as the buyer will be paying cash. Are you assuming they will literally show up with a briefcase filled with cash? I would think they'd be using a business or an individual to 'launder' this money. I would think they would be sophisticated enough to not use a briefcase filled with cash. Maybe I'm wrong. (FWIW: there's a fast food franchise down the block from my house - that I'm pretty sure is 'front' to launder money. As they have incredibly crappy service and food - no one is ever in the drive thru or the sit down area. I'm sure they buy lots of non-existent supplies and have non-existent people on the payroll and post a small profit each month despite never selling any food. - there are plenty of other fast food franchises doing brisk business in the immediate area - the "laundering" franchise has had it's doors open for atleast 5 years - with few if any sales. There's never a line in their drive thru, nor cars in the parking lot despite the lights being on and being open for business.) ADDED: I'd sell sooner than later. I suspect you will get less $$ the longer you wait. If they are making threatening overtures - it means they aren't going to pay top dollar - they have the advantage. why would they do anything out of the 'kindness of their hearts" or "look to your best interests" by giving you a fair amount money (to you) to leave?
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haapai
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Post by haapai on Jun 13, 2019 11:33:06 GMT -5
My main concern regarding selling for cash without a title company involved would be security. I'd want to sign in a bank lobby after checking in with all my kids. I'd never go back to that property again. I would not use the address of my mother or any of my friends in any of the paperwork.
IMHO, spending a couple hundred dollars to get other folks to witness and facilitate the transaction would be money well spent.
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TheOtherMe
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Post by TheOtherMe on Jun 13, 2019 14:39:26 GMT -5
The paper trail to prove it's for the sale of a house and getting that kind of cash in the bank would both be concerns for me.
If all they want is a quit claim deed, will that prove that the money is for the sale of a house?
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Bonny
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Post by Bonny on Jun 13, 2019 15:07:59 GMT -5
My main concern regarding selling for cash without a title company involved would be security. I'd want to sign in a bank lobby after checking in with all my kids. I'd never go back to that property again. I would not use the address of my mother or any of my friends in any of the paperwork.
IMHO, spending a couple hundred dollars to get other folks to witness and facilitate the transaction would be money well spent.
The county recorder will require that the quitclaim deed has a notary signature and witnessing the signing of the deed. The signing typically happens a few days before the sale and is done at the notary's office. You don't hand over the deed until you have the cash.
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Tiny
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Post by Tiny on Jun 13, 2019 15:21:35 GMT -5
While I know this triggers the government to look at the deposit, is there any issues other than that? I would have the buyer meet me at the bank, and would not be transporting cash. I can see how that might go... I don't think it triggers much of anything - if you have the paper trail of the sale. What "rules" does your county(and city) have for transferring property? I just sold a house without a realtor, but I did have a lawyer and the loan officer of the buyer taking care of everything. The lawyer handled all the transfer fees/paperwork for the County and the City. The mortgage bank handled the title check, inspections, etc. what I didn't say in the above - is that I could have handled getting the Transfer "stamps" and fees and other paperwork that my local City Hall needed and that I could have prepared and filed all the paperwork that the County wanted. I couldn't "buy" the Transfer "stamps" without some paper work from the Title company... so if the mortgage bank wasn't getting that "paper" I still would have had to get a title company involved to get the "paper" work needed to get the city their "fees or tax or what ever it is the "stamps" do" for the sale AND to include the info from the title company in the paper work for the County Assessor. There is a certain amount of beauty in the "esthetics" in bureaucracy. What does your local County (and city) require for the sale of the property? Those wiil be the hoops you need to jump through and I suspect those hoops will be what makes the cash sale OK from your end. You, technically, are selling in good faith that your buyer is on the up and up.
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Bonny
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Post by Bonny on Jun 13, 2019 16:12:58 GMT -5
The paper trail to prove it's for the sale of a house and getting that kind of cash in the bank would both be concerns for me. If all they want is a quit claim deed, will that prove that the money is for the sale of a house? Typically a quitclaim deed just says "for valuable consideration" and doesn't list the price but it could. The county assessor is going to need to know the price for tax purposes. That could create a trail.
My concern would be that somehow these folks get caught in a money laundering action and Shasta gets sucked into it.
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debthaven
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Post by debthaven on Jun 13, 2019 16:28:33 GMT -5
I thought you had HOPED to sell to them earlier (last year? two years ago? sorry can't remember). And then they changed their minds, they weren't buying anymore.
What has changed since then?
All the best, as always.
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Artemis Windsong
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Post by Artemis Windsong on Jun 13, 2019 16:40:57 GMT -5
I asked a nun what her view of money donated to the church that came from illegal means. She said Jesus cleans its. This could have been my "bad" but someone from my teen years owed me a lot of money from something that was stolen from me. They wanted to make it right. I knew that person did other illegal activities that harm and kill people. I refused the money on those grounds.
Rockhounder needs to sell to the Hmongs sooner than later. Human life is low priority to that culture.
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Artemis Windsong
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Post by Artemis Windsong on Jun 13, 2019 18:45:59 GMT -5
Do you know what adjacent properties sold for?
I don't know what state you are in. Their offer might be low.
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CCL
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Post by CCL on Jun 13, 2019 19:29:21 GMT -5
My main concern regarding selling for cash without a title company involved would be security. I'd want to sign in a bank lobby after checking in with all my kids. I'd never go back to that property again. I would not use the address of my mother or any of my friends in any of the paperwork.
IMHO, spending a couple hundred dollars to get other folks to witness and facilitate the transaction would be money well spent.
The county recorder will require that the quitclaim deed has a notary signature and witnessing the signing of the deed. The signing typically happens a few days before the sale and is done at the notary's office. You don't hand over the deed until you have the cash. But once you sign the deed, won't the property be theirs, anyway? Or does the buyer sign it later and then they become the owner? I have no experience with this sort of thing.
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Works4me
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Post by Works4me on Jun 13, 2019 21:54:28 GMT -5
Add me to the list that thinks the sooner you sell and get out of there, the better for you. In addition to your personal safety, I'm also concerned that by waiting until next spring something could happen to stop the sale.
IIRC, the last sale fell apart because the Hmong Cartel wanted to see the election results and the effects of legalizing marijuana for recreational use in the state of California. When dealing with people like that it's just best to conclude your business dealings ASAP.
Your plans to go road tripping with a trailer/RV and eventually settle elsewhere in the west sound perfect for you. Have you ever read any of the books/articles written by people who are "trailersteading?" I've read a few that were both really good and really interesting. Good luck and please keep us posted.
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Post by Deleted on Jun 13, 2019 22:33:09 GMT -5
I'd sell now, but I had my roof replaced and am still fixing damaged skylight areas and other issues. I will be done by spring, and the growers aren't buying right now. Their plants are already in the ground.
I've watched a ton of tiny house and RV'ish YouTube videos over the last couple of years. I've been taking notes on traveling and things I want/don't want in my next, much smaller home.
My plan is to start in NV and work my way to the OR coast going through all the great rockhounding spots along the way. I plan to do a combo camping and motel trip. That's the current plan anyway.
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finnime
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Post by finnime on Jun 14, 2019 9:12:08 GMT -5
It's too bad there's not a market now. Waiting could incur problems you don't foresee. It does not sound to me like your buyers would care too much about house and property improvements like the roof.
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jeffreymo
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Post by jeffreymo on Jun 14, 2019 10:02:32 GMT -5
Does waiting increase or decrease the value of the property? If the growers are taking over the market will there be enough competition between different growers or is it so organized that eventually they will drive the value down to zero?
If it were me I’d sell ASAP.
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Bonny
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Post by Bonny on Jun 14, 2019 10:04:04 GMT -5
The county recorder will require that the quitclaim deed has a notary signature and witnessing the signing of the deed. The signing typically happens a few days before the sale and is done at the notary's office. You don't hand over the deed until you have the cash. But once you sign the deed, won't the property be theirs, anyway? Or does the buyer sign it later and then they become the owner? I have no experience with this sort of thing. The seller has to deliver the deed to the buyer. Typically you do this through escrow (3rd party who ensures the elements of the purchase contract have been fulfilled but Shasta is trying to do this without a purchase contract or using an escrow).
Most buyers want to ensure they have good title via a title search and get title insurance but that doesn't seem to be the case here.
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Artemis Windsong
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Post by Artemis Windsong on Jun 14, 2019 17:27:46 GMT -5
We sold my brother's property to the neighbor for cash exchange. We met at the bank and a bank officer made sure the correct paper was signed in the correct place. The buyer asked for this. Midway through he says I should have gotten a lawyer. There was nothing underhanded. He low balled us by half what he offered the year before. We wanted out and he wanted it.
We deposited the money at our local bank. Different from the one where the papers were signed.
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Post by Deleted on Jun 16, 2019 9:43:09 GMT -5
We sold my brother's property to the neighbor for cash exchange. We met at the bank and a bank officer made sure the correct paper was signed in the correct place. The buyer asked for this. Midway through he says I should have gotten a lawyer. There was nothing underhanded. He low balled us by half what he offered the year before. We wanted out and he wanted it.
We deposited the money at our local bank. Different from the one where the papers were signed.
Did the bank put any kind of hold on the cash you deposited, assuming it was above the 10K mandated reporting level?
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Artemis Windsong
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Post by Artemis Windsong on Jun 16, 2019 17:20:05 GMT -5
It was right at $10,000. The only wait was the 3 day check clearing. We didn't need to money right away so no problem. I am sure the deposit was reported. In the memo section of the check was what the check was for. No questions were asked.
When we sold our other property, we used a realtor. I think we got a cashier's check to deposit. I didn't do the deposit but I'm sure the only question would have been what the check was for. We did buy another property 1.5 years later.
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