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Updated almost 10 years ago,
Newbie seeking advise on owner financing
Hi,
I been looking into taking the plunge on a property. I have come across a possible deal that I may try to obtain via seller financing. The person inherited the property and doesn't owe anything on it. He has expressed that he doesn't like the fact that the money will get taxed heavily. My question is, if I line up a seller financed deal and explain that this will ease the tax burden but then I sell after a year or so, does that in turn put him in the same spot as if he would have sold it traditionally to begin with? I am not trying to be deceitful, just curious if this is not a good way go about obtaining this property.
Thanks!