Posted by Bob on December 21, 2003 at 20:58:47:
Mike. There are two different ways to look at it. The first being if you dont want to pay alot of capitol gains for the year that you sell it ,give the buyer a second for the equity that you have. That way you stretch out the payments over time and only pay on the interest for the year that you collect. Second being that the new tax law is more favorable to the investor being that we only pay 15% for our capitol gains tax on any investment held for over a year. Are you aware of the new tax law? Either way should help you out.