Wondering if I should go ahead with a sale

[John Conte]

Hey everyone, I bought my first building in 2017, for 85k all cash. Put another close to 35k Into it, bringing me to 120 in equity (one of the improvements was a new boiler for 17k in 2017, not sure if i can declare the depreciation on sale or not). The building is unlisted, but someone is interested in buying it, and my lowest price is 160k, which, after capital gains would probably be closer to 149, clearing 15k in profit. I haven’t had the building appraised and the buyer is motivated. The buyer is also asking me to declare the sale at around 90k, which is certainly a red flag, so wondering if thats something to avoid altogether. Thanks everyone!

[Andrew Weiner]

Do not misstate the sale price, that is almost certainly illegal! I am not an attorney so you can take that with a grain of salt. I would never sign a document that says something different than what the truth is. If your buyer doesn't want the purchase price recorded then you can quit claim the property into an LLC and then sell the LLC, any real estate attorney should be able to help you do this properly.
Good luck!