RanchnLady
Junior Member
Bend, Oregon
HOT HOT MARKET
We put a $1,000. dollars Earnest Money down on a house in a new subdivision.
We purchased it for an investment ( Rental). Won't be done untill Spring 2006.
The Builder has just re-priced all the other lots that are for sale. So we've basically already made a profit. Can we assign our interest to this sale if we have buyer? We actually have several that want it. If so, how do I do that? I don't want to ask the agent because I don't trust her. I know there will be some tax to pay, I have some carry forwards that will off set some of it.
Thanks,
C L
HOT HOT MARKET
We put a $1,000. dollars Earnest Money down on a house in a new subdivision.
We purchased it for an investment ( Rental). Won't be done untill Spring 2006.
The Builder has just re-priced all the other lots that are for sale. So we've basically already made a profit. Can we assign our interest to this sale if we have buyer? We actually have several that want it. If so, how do I do that? I don't want to ask the agent because I don't trust her. I know there will be some tax to pay, I have some carry forwards that will off set some of it.
Thanks,
C L