Here you can see a "sellers net sheet" - showing you a fairly close estimate on what you might expect once this sale concludes.
Hopefully you'll be walking out of there with approximately $674k of ready cash come this closing date in February.
So there will likely be a gap of some kind between what you'll get in cash proceeds, and the next property you're going to want to buy. If we end up buying in the 700k-800k range in California, you'll need to source the difference of $26k- 126k from your other assets - IN ORDER TO BE A CASH BUYER for the next purchase.
If this LA area market is anything like what we're seeing here, being a cash buyer will take a lot of friction out of the process for you. Knowing that liquidating this 26-126k of invested assets will trigger some kind of tax event, we just absorb that as the cost of this market. hopefully the value of being a cash buyer will exceed the tax hit - hopefully you'll command a discount of some kind, and/or simply acquire the RIGHT property for you- which is priceless!
If its possible for your agent to negotiate your purchase as a financed one - albiet with a MASSIVE downpayment - that would be ideal, but I will connect with her this week to get a sense of what will be best.
Once you get the property landed - we should initiate a "delayed financing" refinance on the property - to replenish your retirement account, and help create at least a little bit of safe leverage for this venture!