contract for deed - Posted by Justin


#1

Posted by Rob FL on October 12, 1998 at 21:02:06:

Definitely still used. Usually seen on mobile homes and vacant land though. Most of the ones I see are in the rural areas.

I am pretty sure the tax right-offs are they same as if a sale occurs, but don’t quote me on that.

Also, I am still looking for some properties if you come across something let me know. I will make sure you get compensated in full. The last one just didn’t look profitable after finding out the true mtg balance and re-crunching the numbers. Take Care.


#2

contract for deed - Posted by Justin

Posted by Justin on October 12, 1998 at 18:53:26:

Does anyone know are these still used in Florida and does the buyer get the right-offs as if they were the owner? Thanks, Justin


#3

My Uncle helps pay for my house - Posted by Randy

Posted by Randy on October 13, 1998 at 10:58:59:

Yes the buyer gets the write-offs,
interest, taxes,and any other deductions.
I personally owned a home on CFD, ($500 down)
with a business office located in my home.
I claimed 30% of all expenses including utilities
as a business expense.
Paid 32K for the property
Lived there five years put 10k in it.
Sold it for 67K and put 35K in hip national bank.
And Uncle paid 1/3 of my living expense.
I have a creative tax person.
Check with yours before you do the same.