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Owner Financing
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<blockquote data-quote="TexasBred" data-source="post: 499912" data-attributes="member: 6897"><p>I think it's pretty much a given that with owner financing the price is always inflated a bit. That's the only way they can give you favorable financing and in some cases it's the ONLY financing available for one reason or the other. Done properly it works to the benefit of both parties. </p><p></p><p>I'd think it would be hard to take any kind of deduction for so called implied interest when the note declares there is no interest charged. If you deduct it she better report it as income. </p><p></p><p>Glad you're debt free :clap: :clap: :clap: That's everyone's dream.</p></blockquote><p></p>
[QUOTE="TexasBred, post: 499912, member: 6897"] I think it's pretty much a given that with owner financing the price is always inflated a bit. That's the only way they can give you favorable financing and in some cases it's the ONLY financing available for one reason or the other. Done properly it works to the benefit of both parties. I'd think it would be hard to take any kind of deduction for so called implied interest when the note declares there is no interest charged. If you deduct it she better report it as income. Glad you're debt free :clap: :clap: :clap: That's everyone's dream. [/QUOTE]
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