Multi-Family and Apartment Investing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 7 years ago,
100+ unit contract question
Hello, I'm nearing the end of a contract negotiation for a 100+ unit property, and the "final" request the seller came back was the following:
Our CPA recommended that we add a sentence to Paragraph 8: EVENTS OCCURING AT CLOSING. Seller shall deliver to Buyer:
(g) Buyer & Seller agree that the valuation of the Personal Property conveyed under this contract is $1,000 & any sales tax will be paid by Seller.
I sent the question to my attorney, but he's out of pocket at the moment. Any guidance on what this actually means would be helpful from a Buyer's perspective. Thanks!