All Forum Posts by: Mel Cosio

I assume seller wants to do title transfer to avoid taxable gains, but if that's the case, then my acquisition cost would be zero, and I'd get killed on taxes on gains.

I don't see any other reason on why title transfer instead of outright sale...no agents involved, just my atty and seller atty...weird...

I'm establishing a TIC in order to make a big-money (for me) purchase - 750k. My company is putting up 500k and partner is putting up the rest. Potential profit is about 300k.

Seller wants to do a title transfer instead of a regular sale. I'm leery, but want to make it work.

Would love to hear feedback from experts on this. What should I look for? What are the absolute "must-do's"?

Thanks for all responses.

I agree, work for a builder to gain experience.

@Samantha Miller, that stinks. I’ve never heard of that condition. Guess it just goes to show that you really have to read the fine print just to make sure you know what you’re signing. Good luck in whatever you decide, Wish you the best and hope it still works out.

nice work, congrats.

Logically, someone has to pay the taxes, it just doesn't go away. I'm not a lawyer nor accountant, but I think birth mom or you (if deeded to you) would be liable. I would think she can't deed it until taxes are paid? 

Just had this happen to me as a seller last week. We agreed on price, appraisal came in 10k less than what they offered, they asked me to lower to appraised price, I said no, buyer walked. Accepted another offer today - who knows, appraisal might come in low again...

You should cross-post in PA forum.

use those diy brick face they sell at Lowes to resurface it.

I almost bought an awesome fixer next to a cemetery; this was not a flip, but for me to live in. The smartest person in the room (my wife) immediately nixed the idea.