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Updated about 1 year ago on . Most recent reply

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6
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3
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Lesley Cabrera
3
Votes |
6
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Need guidance afraid of being taken advantage of and would like some input

Lesley Cabrera
Posted

So I have a commercial property that my parents gave me control of a couple years ago. After much headache and of learning what and how to do things I have decided to sell the property. There is not much owed on the property, I got an appraisal and I also have a motivated buyer. I was not expecting the appraisal value to be as high and now I am a bit intimidated. I am not sure if I need to speak to a tax attorney, a real estate attorney or where to start without getting taken advantage of.  I want to invest in residential property since the commercial side was too big for me and I have already been too naive. I know 500k is all the capital gains I can have to avoid paying so much tax on the sale so investing the rest is my only option. Can someone give me guidance as to what I should be doing next to protect myself.

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