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16 March 2012 | 7 replies
Currently own on a wrap.I hold title.The reason I am selling is I have some other big projects I am working on.There is a very well qualified buyer who has over a million in cash.They are going to basically take over my wrap position and the seller who owner financed me agreed.The way I was going to structure this is the buyer wants 3 more years on the note at 5% then cash out.I would get note balance amended as well to wipe out my cash credit from the seller that I had.Then once changes are in place simply sell to the buyer where I assign my rights and title to the property for a fee.The money I get will be substantial 6 figures.I will not have owned the property a year yet so whether I pay commission to my brokerage or have the corp for the apartment show a gain I think it will be taxed as ordinary income.The buyer is fine with this but was wondering if it should be structured to where:"I am not sure the best way to structure it, but I think the down payment needs to be part of the purchase price for tax/depreciation/refinance reasons.
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4 January 2015 | 27 replies
I didn't have time to post the amended lease before signing leases and haven't been back to it.
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15 November 2013 | 12 replies
We also sent an amendment to the Listing Agent, along with a copy of the inspection.Today, we received an answer that in lieu of making any repairs, they would leave the refrigerator.Since we first found this house, the MLS states that the refrigerator was included in the sale.Once we mentioned this to the Listing Agent, she quickly said that it was a mistake.
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24 November 2009 | 20 replies
Typically, I just write offers in my name and get escrow to do a "courtesy amendment" transferring the property to the entity of my choice.Most of it don't take issues with it, they ask my operating agreement though.
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5 March 2014 | 12 replies
I should amend my statement to entail only having the property in pristine.
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21 November 2020 | 8 replies
The council will have a public hearing on Nov. 17, and amendments could be offered.
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5 June 2017 | 8 replies
It means getting three bids for everything and using licensed contractors.The other option, if the repairs were agreed to and amended in the purchase agreement and not completed, you should speak to your lawyer about moving the closing date until they are done or holding back money in escrow until they are done by the seller and to your satisfaction.
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19 October 2021 | 4 replies
Only way for me to do that would be to file an amended tax return.
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12 August 2021 | 4 replies
This is not true.In August 2020, the SEC amended the definition of Accredited Investor to include those that have "professional knowledge, experience or certifications in addition to the existing tests for income or net worth.
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26 January 2023 | 0 replies
As a wise accountant once told me, “It’s better to extend than amend!”