Pretty much why I was asking on here to see what others may have personally ran into, to me it seems that it's going to be classified as income period and the seller will be responsible for the taxes on that income, only possibly/partially offset by whatever other expenses the seller might typically be claiming as part of their regular tax filing.

When you hold a stock through a down period, you don't lose any actual money.

If they are outside the legal period of accounting just file in whatever local jurisdiction that applies.

Many of us have had our main homes lose equity over a short period of time (some right after purchase) and as long as you are staying put, it really doesn't matter.

Hi guys,I showed a property to a client that was apparently in the redemption period of a foreclosure.

Or just staying out of the market for a period while trends emerge.John Corey

There is not enough info to provide a useful response.If I put nothing into the deal and hold for a period where the value is rising then my returns are infinite.

Assuming a double close and a very short period between when the 1st closing takes place (hours or days) the paperwork that was put into the file for the underwriter will show someone other than you as the seller.

For this we obtain multiple bids, compare and make recommendations, coordinate the efforts, oversee the actual work on site (periodically checking progress, documenting with photos, making decisions and change orders when necessary), inspecting and documenting the finished job, reviewing punch list items and authorizing final payment.OTOH, if you are talking about a LARGE project, or development type work...I have no idea!

If you want to make sure your safe put a 5 day inspection period in the special stipulations section of the contract giving you to terminate if you inspect the property and find it unstatisfactory.Again these are my views from Georgia.