If you ever sell a home and finance the transaction for the buyer, you could certainly come out in great shape.
But what happens if the buyer stiffs you and defaults?
My advice? Don’t panic!
If you know the law, (and we do!) you can reap a substantial windfall of tax-free cash!
You’ll find out how when you read my new article titled Tax Tips: Tax Trick When Repossessing a Home You Sold with Seller Financing.
Three ways our fact-filled article can help you:
- We’ll show you how to play the game the right way. In my new article I’ll explain how seller-financing works, what happens at the time of repossession, and how you can avoid overpaying tens of thousands of dollars of taxes. You’ll get all the details when you read the full article.
- We’ll tell you the good news. It’s a beautiful thing when two tax laws work together to provide you with a windfall of tax-free cash. That’s exactly what happens when you repossess your home. Sections 121 and 1038(e) of the Tax Code join forces to give you a big win. You’ll learn how when you read the full article.
- We’ll help you avoid a dangerous trap. It could be extremely costly for you if you don’t sell your repossessed home within a specific period of time. The tax law insists that you sell relatively quickly. We’ll tell you how quickly when you read the full article.