I have a couple of buildings for sale. I got an offer yesterday for substantially more than I am asking. The buyer wants to have 150k per building (300k total) credited back to his contractor. He included this amount on top of my price, so he is really just borrowing it, but rolling it into the loan. The sale price will reflect the higher amount. I don't see how his bank would do this, but if they do, my question is: Won't that higher price increase what I have to spend on a 1031, even though it's not what I recieve? If I just cash out of the deal, would it affect my taxes any differently than just a usual sale? Is there any other problems with doing this deal? Diane help! Anyone!
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