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Updated almost 12 years ago on . Most recent reply

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7
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0
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Peter Tryon
  • New York
0
Votes |
7
Posts

Land Contract

Peter Tryon
  • New York
Posted

Hello everyone,
I am new here so I apologize if this is the wrong section to post this.
But..I am currently working on purchasing a multi family property using seller financing. I have negotiated a price and set terms with the sellers but now the sellers accountant is advising them that they will have to pay all NYS taxes upfront rather then in installments (as a normal land contract works) because the seller no longer lives in NY they live in Florida..is this true? I've contacted my accountant about it. But i am in a bit of a hurry to find an answer so im sorry for the run on paragraph.. If anyone knows anything about this I would really appreciate the help!
Thank you!

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