please helppppppppppp : thank you

**mourak** · 04-01-2009, 04:31 PM

i want to buy a house ($80.000 ) and the value market right now is ($160.000) but the seller asking me 2 things:

1/ the money($80.000) cash.

2/ the sale(the contact) ll be as a gift from the seller to me.

my question is that good idea for me or not?
thanks for any respond ill aprochaite thankful.

**Greg** · 04-02-2009, 05:21 AM

If the seller gifts the property to you they might then 1099 you. You could end up paying a gift/wind fall/? tax on the assessed amount.

What is the reason for the gift? Is it so the seller can avoid paying something typically due in a sale? If so, will you be liable for this money? If the seller is committing fraud by covering up the sale, will you become an accessory?

**mourak** · 04-02-2009, 10:59 AM

Thank you very much ,Greg.

**clemy** · 04-02-2009, 02:34 PM

Originally Posted by Greg

If the seller gifts the property to you they might then 1099 you. You could end up paying a gift/wind fall/? tax on the assessed amount.

Actually, it is the giver who pays the tax or makes a claim against their lifetime gift allowance.

But, I agree that something is very strange in this proposal.

**mourak** · 04-02-2009, 03:39 PM

Thanks Clemy: I'm trying to understand this deal.i have only 2 weeks to decide if i ll accept the offer or not.

**Vegasloanlady** · 04-02-2009, 03:49 PM

I think you'll have to check with a lawyer and an accountant. We are not qualify to answer this question because it has to do with the law and tax issues.