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Why would someone offer to sell his place for $149,000 + $5,000 closing cost as opposed to just $144,000?
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visit habitat uHabitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
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Search, by word or phrase, all magazine articles from January 2002 to present. You may print or email your results. Print subscribers receive free access to the Habitat Article Archive.
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If the seller is paying the buyer's closing costs, the seller may be trying to reduce the net gain for the purposes of calculating capital gains taxes.
If the seller thinks that by paying the buyer's closing costs that he will be able to deduct those costs, he will likely find out the hard way that he was wrong...they are only deductible by the buyer.
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