Daily I’m assisting folks that think “the notice” from the bank is the end. Actually, there are many options available for the owner, each with different ramifications to your
- income tax situation
- property tax situation
- credit score
and so on. If you are not aware of them, let chat. Along with your buy/sell transaction, I’ll be not only addressing some of these deeper aspects with you, I’ll also be giving you credit toward free & included services from a skilled CPA’s & a licensed property tax assessor to keep your current and future governmental “gotcha” moments at a minimum.
Buying, selling, and renting your property is indeed a major financial transaction. Are you considering the consequences BEFORE taking a course of action ? Are you structuring the buy/sell/lease to minimize the multiple taxation issues ?…specifically:
- transfer taxes
- property taxes – today and down the line
- personal/corporate income taxes
- changing/new insurable risks being covered
- and title insurance costs as they relate to the structuring of the transaction
Let me know how I can help, having been at the lake since 1962 I have a few thoughts and ideas always available to assist you.