Posted on: 13th Mar, 2013 08:49 am
I am in discussions to purchase a single / vacant lot from a retired individual, who indicated that money is not immediately needed.
Is it more advantageous to seller to accept payments over time vs. the one time capital gains tax of 15%. Seller has owned the land for over 20 years
Is it more advantageous to seller to accept payments over time vs. the one time capital gains tax of 15%. Seller has owned the land for over 20 years
Hi Parolo!
Welcome to the forums!
I guess you and the seller could go in for the option of seller financing or owner financing as it is popularly known as. However, while you go for this option, you should get in touch with a real estate attorney and get the agreement properly drafted.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
I guess you and the seller could go in for the option of seller financing or owner financing as it is popularly known as. However, while you go for this option, you should get in touch with a real estate attorney and get the agreement properly drafted.
Feel free to ask if you've further queries.
Sussane
Welcome Parolo,
To know all about owner financing, you can even check out the given page: http://www.mortgagefit.com/owner-financing.html .
To know all about owner financing, you can even check out the given page: http://www.mortgagefit.com/owner-financing.html .
No, you pay the same amount of tax whether all at once, or in payments over time.
