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Updated over 14 years ago on . Most recent reply

User Stats

163
Posts
50
Votes
Sam T.
  • Investor
  • Pittsburgh, PA
50
Votes |
163
Posts

adding end buyer to avoid double tax

Sam T.
  • Investor
  • Pittsburgh, PA
Posted

OK so wholesaling in Pittsburgh,pa is like having long hair in the 60's either people hate it or don't understand it. even lawyers and people in the industry and getting guidance from anyone here is tough. I'm trying to get into wholesaling in Pittsburgh transfer tax is 4% and if you assign a property in Pittsburgh you have to pay the tax twice and its based off market value not purchase price??? that's messed up on so many levels these houses aren't worth that value any more and paying the tax twice oooch deal breaker for most deals. I know that on reo's it may be different but on owner sellers through the mls can I add my end buyer on the contract to avoid paying this tax twice? how do i get off the contract if i do this? anyone familiar with pa laws and could help or chat would be great. [EMAIL REMOVED]

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