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Our builder is offering to pay our 2008 taxes if we close this year. Are there any benefits to us to do this? I am thinking that maybe he is making out better than we will by closing in 2007. Is there anything that I am missing?
Sounds like he needs some money. If you close this year you can write off all the closing costs this year. It is a nice little tax savings. You can write it off next year too but you will see it faster. Paying your taxes for 2008 sounds like a good deal but your 2008 taxes are probably only based on the land so it isn't all that much most likely (at least in MN that is how it would work). I would ask him what the rush is and see what he says. Is your house DONE? If not, do NOT close or it won't get finished.
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