I'm interested in a "new construction" condo, but they already have contracts that will close in February. One person is purchasing several for the purpose of reselling immediately with a 20% margin via a reassigning of his contracts. To my understanding, he'd have to pay capital gains tax on that transaction. Would it be possible to give this person cash as a gift for walking away from the deal to save me some money and him some capital gains tax? This would be my first real estate purchase, so I'm not well-versed in these areas.
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source https://www.reddit.com/r/RealEstate/comments/k3ksl2/paying_someone_cash_to_walk_away_from_a_contract/
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