Thursday, July 13, 2006

Selling Your Vacation Home a Month at a Time

You know the market is slowing when articles start appearing about seller financing. Nevertheless, becoming your own mortgage company does bring in money on a place that you're no longer using. Here's what Inman News says: "If you no longer choose to nurse a rental or vacation cabin and want to sell it, you can spread any resulting capital gains tax over time by 'playing the back' and providing seller financing. And, you can save the new buyer, perhaps a young family that has shown interest in your getaway community, the costs of a conventional loan while negotiating a favorable interest rate for both sides."

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