When it comes time to sell your house, everyone wants to sell their house for what it is worth. Sometimes in a tight real estate market, you can have a bidding war and sell a house for more than its actual value, but if there is a mortgage involved, the bank will quickly bring reality to the transaction. Well, that’s the way it works for us common people.<\/p>\n
On Sunday, The U.K. Daily Mail<\/a> reported the following:<\/p>\n Joe Biden<\/a>\u00a0sold a house to a supporter for $1.2 million in 1996 – but it is only worth an estimated $1.65 million 27 years later, DailyMail.com can reveal.<\/strong><\/p>\n The current valuation raised questions over whether Biden received an inflated price for the property from a donor nearly three decades ago.<\/strong><\/p>\n It was purchased by an executive for a credit card company that, in the same year, also hired Biden’s son Hunter and then paid him for years.<\/strong><\/p>\n I guess the pay-for-play started years ago.<\/p>\n The article notes:<\/p>\n During those years Joe Biden backed new bankruptcy legislation in Congress that would benefit credit card companies, even though it was opposed by a majority of Senate Democrats including Barack Obama.<\/strong><\/p>\n At the time of the controversial house sale in 1996 a pollster for Biden’s Republican opponent in his Senate re-election race suggested that the price paid for the house had been too high.<\/strong><\/p>\n That was vociferously denied by both Biden and MBNA.<\/strong><\/p>\n A Biden spokesman said at the time that Biden had purchased the property when it was in a distressed state.<\/strong><\/p>\n The spokesman said: ‘Over the 21 years that the Biden family lived in the home, they made considerable renovations.<\/strong><\/p>\n ‘There was absolutely no connection between the sale and campaign contributions or votes by Sen. Biden, and no one should dare suggest otherwise.’<\/strong><\/p>\n MBNA also provided to the American Spectator magazine an appraisal from January 1996 that put the value of the property at $1.2 million.<\/strong><\/p>\n However, the News Journal, a newspaper in Wilmington, went on to report that the appraisal listed as comparable properties two houses valued at just over $1 million.<\/strong><\/p>\n Both of those properties failed to meet their asking price by more than $200,000, while Biden got the full list price.<\/strong><\/p>\n Wow. Just wow.<\/p>\n","protected":false},"excerpt":{"rendered":" When it comes time to sell your house, everyone wants to sell their house for what it is worth. Sometimes in a tight real estate market, you can have a bidding war and sell a house for more than its … Continue reading