Re: sales conract - Posted by Ernest Tew
Posted by Ernest Tew on May 30, 2000 at 18:37:06:
When financing a mobile home, we have found either a “Lease-Purchase” agreement or a Net Lease with an Option To Buy (two separate documents) works best.
When properly worded, you will not be required to pay taxes on the gain until the option is exercised. And, the “buyer” won’t have to pay a sales tax until the option is exercised. As a result, all the cash the buyer pays will apply toward the purchase price and you, as seller, don’t have to share the available cash with the taxing authorities.
If you need a copy of these forms, please contact me at (352) 475-1800 or by e-mail.