Updated almost 4 years ago on . Most recent reply
Seller wants to avoid capital gains taxes
Hey Everyone,
I have a seller who wants to sell because they are worried about potential higher capital gains taxes after the 1st of the year. I mentioned seller financing and the seller said that he would not want his money tied up longer than 2 years because he wants to use the proceeds to build. I have a few offers below. Please let me know if you would add or change anything. Thanks in advance.
*Offer 1: $170,000 cash, no contingencies, can close in 2 weeks.
*Offer 2: $180,000 contingent upon conventional financing, no inspection contingency, must close before the end of the year.
*Offer 3: $190,000 seller financed, 20% down payment ($38,000) due in 2 weeks, $152,000 amortized over 30 years at 5.5%, $863.04 monthly payment, balance due on 11/18/23. Contingent upon appraisal no less than the purchase price. *Seller keeps the deed in their name until the full balance is paid (contract for deed) allowing the seller to continue to use depreciation on the asset.
*All offers are without a realtor involved.