Menu

Home › Forums › Closed Forums › Buying and Selling RE › Some questions on all cash purchases

Viewing 15 posts - 1 through 15 (of 41 total)
1 2 3
  • Author
    Posts
  • July 23, 2009 at 4:11 PM #16089
    LAAFTERHOURS
    Participant

    So sorry if this has been covered but in order to buy at auction down at the courthouse, you need all cash in hand at the time of the auction.

    I have direct family members who could cover this transaction for me but Im not familiar with what the implications there are to them on turning that home over to me and having me finance a 30 yr loan on the home.

    Any taxable implications to the family members? Any big hurdles to get past with this type of tranaction?

    Appreciate the input.

    July 23, 2009 at 4:28 PM #435910
    urbanrealtor
    Participant

    I think they inherit (as a buyer) any existing tax liens.

    And I think those are able to come up as much as 4 months down the line.

    July 23, 2009 at 4:28 PM #436437
    urbanrealtor
    Participant

    I think they inherit (as a buyer) any existing tax liens.

    And I think those are able to come up as much as 4 months down the line.

    July 23, 2009 at 4:28 PM #436509
    urbanrealtor
    Participant

    I think they inherit (as a buyer) any existing tax liens.

    And I think those are able to come up as much as 4 months down the line.

    July 23, 2009 at 4:28 PM #436117
    urbanrealtor
    Participant

    I think they inherit (as a buyer) any existing tax liens.

    And I think those are able to come up as much as 4 months down the line.

    July 23, 2009 at 4:28 PM #436678
    urbanrealtor
    Participant

    I think they inherit (as a buyer) any existing tax liens.

    And I think those are able to come up as much as 4 months down the line.

    July 23, 2009 at 4:37 PM #436693
    LAAFTERHOURS
    Participant

    Assuming no liens on the property, are there taxable transfers to me?

    July 23, 2009 at 4:37 PM #436132
    LAAFTERHOURS
    Participant

    Assuming no liens on the property, are there taxable transfers to me?

    July 23, 2009 at 4:37 PM #436524
    LAAFTERHOURS
    Participant

    Assuming no liens on the property, are there taxable transfers to me?

    July 23, 2009 at 4:37 PM #435925
    LAAFTERHOURS
    Participant

    Assuming no liens on the property, are there taxable transfers to me?

    July 23, 2009 at 4:37 PM #436452
    LAAFTERHOURS
    Participant

    Assuming no liens on the property, are there taxable transfers to me?

    July 23, 2009 at 5:13 PM #436718
    sdduuuude
    Participant

    Seems you could just sign a promissory note that you will pay them back the money and put a lein on the house in their name.

    i.e. make them look like a lender where the load funds before the purchase.

    This way, the house doesn’t have to change hands twice.

    Not sure if you can do it that way – just a suggestion.

    July 23, 2009 at 5:13 PM #436156
    sdduuuude
    Participant

    Seems you could just sign a promissory note that you will pay them back the money and put a lein on the house in their name.

    i.e. make them look like a lender where the load funds before the purchase.

    This way, the house doesn’t have to change hands twice.

    Not sure if you can do it that way – just a suggestion.

    July 23, 2009 at 5:13 PM #436549
    sdduuuude
    Participant

    Seems you could just sign a promissory note that you will pay them back the money and put a lein on the house in their name.

    i.e. make them look like a lender where the load funds before the purchase.

    This way, the house doesn’t have to change hands twice.

    Not sure if you can do it that way – just a suggestion.

    July 23, 2009 at 5:13 PM #435950
    sdduuuude
    Participant

    Seems you could just sign a promissory note that you will pay them back the money and put a lein on the house in their name.

    i.e. make them look like a lender where the load funds before the purchase.

    This way, the house doesn’t have to change hands twice.

    Not sure if you can do it that way – just a suggestion.

  • Author
    Posts
Viewing 15 posts - 1 through 15 (of 41 total)
1 2 3
  • The forum ‘Buying and Selling RE’ is closed to new topics and replies.