lower offer with cash at closing?


Hi,
I received an offer on my 2 family in Sunnyside Queens. It is a very low offer on paper but the potential buyer wants to bring an additional 50k cash to the closing as an incentive. My house has been on the market for a year, the price has been lowered and I need to sell. However, I am somewhat uncomfortable to accepting this but I have no other offers. What are the possible ramifications of accepting this arrangement? Assuming of course, I will declare this income on my taxes. Thanks Brownstoners.

Categories: Taxes
By cashoffer | 08/23/2008 10:06 PM | Comment