The Tax Issue
I am working on a ss and promise the homwowners that I will pay property tax for them. So, should I include the tax money in the purchase price on the contract? Or just include it in the HUD-1? Thank you for any help.
I am working on a ss and promise the homwowners that I will pay property tax for them. So, should I include the tax money in the purchase price on the contract? Or just include it in the HUD-1? Thank you for any help.
I promise the homwowners that I will pay property tax for them. So, should I include the tax money in the purchase price on the contract?
Yes. If that is part of the deal, then it should be articulated in your agreement.
When/if you prepare the HUD 1, you can indicate how anticipated proceeds will be disbursed... which would include the payment of property taxes.