Agent Wants Us to Do An Exchange?
We need advice - we are selling a $600K house to buyers with a 'contingency to sell' their $360K home.
Our agent has recommended that we do a 1030 exchange plus $250K! He says the buyers are concerned someone without a contingency will buy from under them, and as an alternative are considering purchasing a lot that our agent owns in our subdivision.
Our house has been on the market since February 2010, the buyers put their home on the market last month, September with our agent, after deciding to purchase our home.
Does this sound 'odd' to anyone else?