twistedfocus1647545489 Posted July 30, 2012 Report Share Posted July 30, 2012 I resigned from my primary employer a while back to pursue self-employment (and mainly to keep from having a stroke from stress). Anyway, things have been picking up but now I have a solid job opportunity far away from here. My house has been on the market for months and I already have it listed for $5k less than I paid for it in 2007. I'd already have to bring $6000 to closing if I sold at my asking price (doubtful). Obviously, the fucking realtor fees are the worst part of it but I just don't seem to have any other options. I have about $10,000 put back, which I'm willing to lose to make this happen, but I'm running out of patience and pissing away money staying in the house (~$2K/month in lost revenue). The bitch is that I probably need to drop my asking price another 5-10k if I'm going to make a quick sale, unless I find the perfect buyers. So I need to "find" 5 to 10 thousand dollars to piss away. I know this money is supposed to be for my golden years, but if I can use it now to leverage myself into a better place (financially and geographically) then why not? I can’t imagine taking a ~30% penalty by taking it straight out, but is there something in between I can do? Maybe roll it into an IRA but take some out with reduced penalties? I think I might qualify for a hardship, but I'm not sure (going to call Merrill Lynch tomorrow). I almost think hardship is my best angle because I don’t think I can take a loan out of it since I'm not with the employer anymore. I don't think I can take all of it right now anyway, just my contributions. They have 5 years to release the rest of it to me. tl;dr: It's my money and I need it now! http://25.media.tumblr.com/tumblr_m1kptvUuZd1r3kar9o1_500.png Quote Link to comment Share on other sites More sharing options...
Green Bastard Posted July 30, 2012 Report Share Posted July 30, 2012 you would be better off to take a loan if you can, there wouldn't be a penality that way. though everyone would tell you its a bad idea to take anything as it will impact what you will retire with. and I'm not sure you can take a hardship withdraw, I believe you have to be behind on house payments or be ready to be forclosed on. there are other reasons to take a hardship though and it wouldn't hurt to ask. Quote Link to comment Share on other sites More sharing options...
944s2 Posted July 30, 2012 Report Share Posted July 30, 2012 (edited) Obviously just my opinion, 401k only comes out in the worst of worst cases. But like you said it's your money your life, it sounds like your mind is already mostly made up. Edited July 30, 2012 by 944s2 Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted July 30, 2012 Report Share Posted July 30, 2012 Casino will be open here shortly. Football in about a month. Quote Link to comment Share on other sites More sharing options...
Tractor Posted July 30, 2012 Report Share Posted July 30, 2012 You could try this realtor Sid Huck http://public.remax.net/public/pages/AffiliateProfile.aspx?aff_spc=res&rows=0&usrprof=42C4DC40-6B18-4EA7-9DB2-A2B4FFE8CBF6&resultindex=-1 Not sure if the info is current. if its not I'll get you better contact info. He's my personal realtor, been in the business for a long time, and knows people. Not just one of those guys who puts your house on the list and collects his commission. I don't know much about 401K's I don't have one (though I could see the benefit for some people.) Quote Link to comment Share on other sites More sharing options...
twistedfocus1647545489 Posted July 30, 2012 Author Report Share Posted July 30, 2012 You could try this realtor Sid Huck http://public.remax.net/public/pages/AffiliateProfile.aspx?aff_spc=res&rows=0&usrprof=42C4DC40-6B18-4EA7-9DB2-A2B4FFE8CBF6&resultindex=-1 Not sure if the info is current. if its not I'll get you better contact info. I do think that even my new realtor is a waste of space. I just got rid of my old one a few weeks ago. This one can at least reply to emails and shit, but doesn't seem to be doing much else. No one is actively marketing shit. In fact, neither of my realtors has brought a single person in here, only others who have seen the MLS. I wish I could be so bad at my easy job and still make money. I'm in the wrong business. Obviously just my opinion, 401k only comes out in the worst of worst cases. But like you said it's your money your life, it sounds like your mind is already mostly made up. I think it's just my frsutration getting the best of me. I just want this to be over with and it seems to be easier to justify sacrificing money I never had in my pocket over taking a loan for thousands of dollars that I'll be paying for long after I'm gone from here. I'm not really comfortable losing much more money than where I'm at anyway. Just feeling out the best way to do this if it comes to that. I'm about to call ML to see what my options are, but I think I'm also going to send an email to my realtor to see if I can light a fire under their asses. Quote Link to comment Share on other sites More sharing options...
CRed05 Posted July 30, 2012 Report Share Posted July 30, 2012 My opinion, leave your 401k alone. You could always try to conceal the source of money as by channeling it through an intermediary. Quote Link to comment Share on other sites More sharing options...
twistedfocus1647545489 Posted July 30, 2012 Author Report Share Posted July 30, 2012 My opinion, leave your 401k alone. You could always try to conceal the source of money as by channeling it through an intermediary. http://3.bp.blogspot.com/-iAfta3-A3xg/T78UFliTgVI/AAAAAAAAMlw/d9ucGeeS7Ag/s320/money-laundering-globalresearch-ca-jpg.jpg ML recommends I roll it into an IRA, which I was already considering. Then if I still decide to take money out I'll only be penalized on that amount. Quote Link to comment Share on other sites More sharing options...
Mr. Jones Posted July 30, 2012 Report Share Posted July 30, 2012 My opinion, leave your 401k alone. You could always try to conceal the source of money as by channeling it through an intermediary. http://www.methodshop.com/video/reviews/officespace/prison.jpg Quote Link to comment Share on other sites More sharing options...
Supplicium Posted July 30, 2012 Report Share Posted July 30, 2012 I suggest taking a loan against the amount in the 401k esp if there is opportunity like you say. as far as the intermediary, i failed when I tried to do that when I bought a house they were able to track all my cash movements between institutions/stocks/accounts etc within a couple days. I ended up having to take a gift then pay it back to the giver. they really track cash now when its going into real estate. Quote Link to comment Share on other sites More sharing options...
twistedfocus1647545489 Posted July 30, 2012 Author Report Share Posted July 30, 2012 I verified today that a loan is no longer an option since I terminated my employment and the de facto repayment is installments from your paycheck. Paycheck. :dumb: I now only have the option to move all of the assets, minus the profit sharing contributions, all at once. So it's on it's way to an IRA. I'll come back in 4.5 years and get the profit sharing too. Quote Link to comment Share on other sites More sharing options...
twistedfocus1647545489 Posted August 4, 2012 Author Report Share Posted August 4, 2012 I just can't justify dipping into my retirement money, so I decided to sell off the Mustang instead. Sucks to do it, but it's the most responsible thing to do. Quote Link to comment Share on other sites More sharing options...
mrs.cos Posted August 4, 2012 Report Share Posted August 4, 2012 There is a realtor on here somewhere that a few people have used and have REALLY liked.. Might do some "realtor" searching on here and see what he says.. Also, have you considered renting out the house for a year or two till the market starts to come back a bit? Is the house in a area thats gonna come back? There are companies who specialize in "corporate house" rentals that would be used for familys who are here ONLY for business and then they ship out to the next area. http://corporatehousingbyowner.com/ or you could save your self some money and market the house your self on FSBO. Quote Link to comment Share on other sites More sharing options...
twistedfocus1647545489 Posted August 4, 2012 Author Report Share Posted August 4, 2012 There is a realtor on here somewhere that a few people have used and have REALLY liked.. Might do some "realtor" searching on here and see what he says.. Also, have you considered renting out the house for a year or two till the market starts to come back a bit? Is the house in a area thats gonna come back? There are companies who specialize in "corporate house" rentals that would be used for familys who are here ONLY for business and then they ship out to the next area. http://corporatehousingbyowner.com/ or you could save your self some money and market the house your self on FSBO. I've decided to give the new Realtor a chance to finish out the 6 weeks left in our contract. Then I'll likely switch or just try FSBO. At least if I sell it myself I can afford to drop the price a bit without sacrificing so much in fees. Quote Link to comment Share on other sites More sharing options...
twistedfocus1647545489 Posted August 10, 2012 Author Report Share Posted August 10, 2012 Realtors are making me fucking crazy. I'm seriously about to go get certified to be a Realtor. I'm not sure if it's actually a school or you just pay a fee to walk into a room where they smash a brick into your skull and hand you a certificate when it's clear your brain has been damaged. This time it's not my Realtor. Some people came to look at the house twice and decided they wanted to make an offer, but had some questions. Mainly if we'd be willing to close within a few days. We agreed but after 2 more days found out that they hadn't even secured a loan yet. Who the fuck goes house shopping these days without being pre-approved? I understand they may be Noobs, but how the fuck does their Realtor not mention that, especially knowing they are in such a hurry? Jesus these people are trying to make me stroke out. Quote Link to comment Share on other sites More sharing options...
twistedfocus1647545489 Posted August 11, 2012 Author Report Share Posted August 11, 2012 Okay, I think I'm about to have Coldwell Banker/King Thompson take a hike once and for all. I'm researching the pitfalls of selling it yourself currently, but I may give the Sid Huck guy that was suggested earlier a call also. Does anyone else have a realtor recommendation? Warning: tl;dr ahead: Today was the second time in a row that there was "confusion" about the showing time. The last time I eneded up waiting down the street from my own house for almost an hour becasue the people got there right when I was supposed to return home. Today I overslept and barely had time to prep the house, so I waited to shower after I returned home after the showing. Right in the middle of showering the visiting realtor and buyer come in the house. Needless to say I was a little pissed and thought they were late, but she said they clearly asked for a 2 hour window, not 1. It made for a really fucking awkward showing, to say the least. Each time my company blames the other. Maybe they're all equally usless but I just can't catch a fucking break with these people. Quote Link to comment Share on other sites More sharing options...
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