Posted on: 11th Jan, 2011 03:58 pm
I am considering purchasing a home. The home does not have a mortgage and the seller will finance my loan.
In this scenario, will I be able for tax purposes to claim the interest and taxes on the property? Does this need to be built into the agreement???
In this scenario, will I be able for tax purposes to claim the interest and taxes on the property? Does this need to be built into the agreement???
Welcome karenshanks,
You should have some kind of contract or agreement with the seller regarding the owner finance in order to claim taxes on the property.
You should have some kind of contract or agreement with the seller regarding the owner finance in order to claim taxes on the property.