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Land Contract by Owner
Hello BiggerPockets!
I am in a unique situation, where I've made a recent purchase of land in AZ, and the owner of the property next door would like to purchase my acreage and trade me one of his acres further away.
Essentially, he doesn't want neighbors.
I'm fine with his offer, it's good. But I would like your advice on how to structure a sale by owner contract to him. I hadn't intended on selling so quickly after purchase, so I'm not prepared on how to do this. This is my first property sale.
To give you background, it is raw land, zoned vacant agricultural residential and has no land improvements or structures.
Ok, so my questions:
-do you recommend a specific contract to use? Where can I get contracts that are up to date?
-how do you add a land swap to a contract, or should I be a separate contract?
-what agents/real estate lawyers do you know in Coconino County AZ that could look over this deal to certify that it's legit and on the level, without being more expensive then $75-$125 for an 1 or 2 hours of their time?
-are capital gains taxed at your current tax bracket or at 35%?
Thank you in advance for your opinions and feedback, I appreciate it.
James