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0 % Financing is a new concept we are trying in the Katua Community in Maggie Valley, NC. It is a resort sales area so we are attempting to grab the interest of people that do not 'need to buy' but may want to get a good investment with great terms and while prices are very competitive.
Has anyone tried 0% financing to promote properties? The CPA said the tax consequences include that the amount of a 'normal interest rate' would be deducted from the sales price and categorized as interest earned on the tax return. That is not too big of a negetive.
Any other ideas, suggestions & comments on how this might be marketed or any pit falls in your experience.
See Katua www.MountainHeritage.com
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