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Updated almost 6 years ago,

User Stats

3
Posts
2
Votes
Steve Driscoll
  • Richardson, TX
2
Votes |
3
Posts

Tax Implications for Seller who is owner financing personal home

Steve Driscoll
  • Richardson, TX
Posted

I am interested in purchasing the home of an elderly couple who wants to sell.  They have owned the home for a long time and have seen 10x appreciation.  This is their personal home.  

In the event they owner finance, will they have to pay taxes on the interest portion of the note, the down payment or a balloon payment?

Thanks

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