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Originally Posted by the Shemp
you said the land is 300K, but he will sell it for 200K, so that is a loss of 100K.
he is doing it to save the taxes on 125K.... which would be far less than the 100K he lost by selling it low....am i missing something here?
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that's the way i read it also
and as far as i know, they arn't going to be taxing you 1/3rd of the home value
btw: he wouldn't need to drop the price 100 grand to get "fast cash" im sure if he dropped it 50 grand below market value, a real estate agent would put up his own money to buy it and flip it
