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Updated about 9 years ago, 11/23/2015

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6
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0
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Kerry White
  • chicago, IL
0
Votes |
6
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Looking to save on closing cost

Kerry White
  • chicago, IL
Posted

So i bought my first property 8/13 I'm responsible for the 2014 taxes which are roughly $3,500 i have been holding and renovating this for quite some time now due to unfortunate events. But now i am ready to sell. Home was bought for 20k, roughly 30k into improvements thinking of a listing price of 75k. I am behind in taxes have a bunch of credit and personal debt. I need to know what would be the best way for me to save on closing and which tax installments will i have to pay for this year )2015) for buyer.

im also intersted in learning how a 1031 exchange works and will it work best for me. I am still determined to keep learning and pushing through my newbie RE experience.

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