Also, my father is trying to retire and would like the responsibility of the duplex off his shoulders.The proposal: My father wishes to transfer the deed over to my name, if I want it of course.

While it's true they lose their deposit and any funds that have been applied to the principle balance on the loan if they don't follow through, they may never qualify (potential for more option money, longer term cashflow though)...The only other thing I can think of would be to enter the deal while legally structured as a trust, then you could transfer all or part of your "beneficial interest" in the property for a fee.

Of course, buying the land trust instead eliminates another deed transfer, for resale/seasoning issues, if they apply.

As to the Realtors, your agent being in the same company as the buyer's agent means your agent was probably the procuring cause of the sale transaction, their agent was aware of your selling or your buyer saw it in a listing, etc. so commissions are due.However, an installment sale doesn't won't transfer title which is required to define a sold property, they are not entitled to anything until the purchase is made.

Wayne Brooks, no I didn't talk to my CPA on 1031, I do understand now that it has to transfer as same type of property, investment to investment.

Say no, it includes legal fee closing cost, not transfer fees.Find another wholesaler/investor to team up with.

Paul,In Colorado, a REAL PROPERTY TRANSFER DECLARATION - (TD-1000) is required by law to be filed with the county assessor where the property is located.

After you close the deal and pay the necessary transfer tax, what tax implications will you have when you file your personal income return if you do not plan on collecting rent?!

upon recording dollar deed, the city will levy a transfer tax of 4% of assessed value (54k)....roughly 2200 will be paid in transfer tax to the city.

I recently did a wholesale lease option with a woman who was transferred to Germany and couldn't get her home sold here in PA.