When a buyer marks up the price of a home
Posted: Sat Dec 28, 2024 7:01 am
1) Hidden costs when buyers mark up loans There are buyers who may wish to mark-up the loan In this mark-up technique, the buyer will increase the purchase price with the aim of obtaining a higher loan. They usually use this technique to get back the deposit they paid to the owner. I don't want to discuss whether this practice is wrong or not. But what is more important.
There are two additional costs that the seller may have to bear: Legal dominican republic whatsapp database costs Property tax costs If you hire your own lawyer, the lawyer's fee will be calculated using the markup price, not the purchase price. The lawyer's fee will definitely be higher. The same goes for property tax costs. Since the selling price is higher, the profit on paper also increases.
The IRB will tax you based on this profit. So how do you handle this situation? Set conditions so that the buyer bears all increased costs that you have to pay. Alternatively, you can also choose not to be represented by a lawyer and use the once-in-a-lifetime RPGT exemption. 2) Hidden costs and timeframe for uncompleted home ownership There are cases where the house grant has been issued but the owner has not yet transferred it to their name.
There are two additional costs that the seller may have to bear: Legal dominican republic whatsapp database costs Property tax costs If you hire your own lawyer, the lawyer's fee will be calculated using the markup price, not the purchase price. The lawyer's fee will definitely be higher. The same goes for property tax costs. Since the selling price is higher, the profit on paper also increases.
The IRB will tax you based on this profit. So how do you handle this situation? Set conditions so that the buyer bears all increased costs that you have to pay. Alternatively, you can also choose not to be represented by a lawyer and use the once-in-a-lifetime RPGT exemption. 2) Hidden costs and timeframe for uncompleted home ownership There are cases where the house grant has been issued but the owner has not yet transferred it to their name.