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When purchasing a home through owner financing, can the buyer claim interest and taxes?

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karenshanks Joined: 11 Jan 2011 Posts: 1 1.00 Dollars($)	Posted: Tue Jan 11, 2011 4:58 pm    Post subject: When purchasing a home through owner financing, can the buye Like 0 Dislike 0 I am considering purchasing a home. The home does not have a mortgage and the seller will finance my loan. In this scenario, will I be able for tax purposes to claim the interest and taxes on the property? Does this need to be built into the agreement???
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Tue Jan 11, 2011 8:39 pm    Post subject: Like 0 Dislike 0 Welcome karenshanks, You should have some kind of contract or agreement with the seller regarding the owner finance in order to claim taxes on the property. _________________ Procrastination is the enemy of your financial success

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