This city is highly skilled at turning simple transaction into red tape nightmares!

The usual course of affairs is the the heirs get the property at a step up and if they want to continue real estate investing they will either sell immediately with no tax or they will continue to hold for a period of time and then start performing 1031 exchanges themselves.As they get closer to an age for retirement or when they get tired of active real estate management they will position their portfolios from active to passively managed properties and philosophically from growth/appreciation properties to cashflow/maintenance properties. 

Closing costs on a typical transaction run about 2-3% of the properties value depending on local transfer and redecoration taxes, lenders fees etc.

Also they do double closing with no transactional fundingSteve Harlan @ Harlan and Florence: average price ($450).

Can your agent get you any details on the past transaction?

They do not want to pave it, and I said I would entertain the purchase and construction of a personal drive on my own.After consulting their attorney they asked to use a Quit Claim deed for the transaction, which I am hesitant to accept - would rather have at least a Deed without Warranty or better.  

We just sold our first "live in" flip and will walk about after transaction costs with about 45k.

I work very hard to make these guys as much $$$ as I can and rarely will I enter into dual representation on a transaction.  

While we do allow multiple roommates to set up payments, these payments are processed separately, and aren't combined into a single transaction. 

I am familiar with the mechanics of the transaction but don't yet know what I don't know when it comes to FSBO.