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First Wheelhouse Purchase – rookie question

  • patk
    Nisswa, MN
    Posts: 1997

    Odds are high I’ll be buying a wheel house from a private part this weekend. Can someone confirm part of the process will be a title transfer and the state will also take a chunk for sales tax?

    Posts: 274

    Depends on age of the house. If its a newer house it will have a title, if its old you may just have to write up a bill of sale. Either way, yes you will have to pay tax on it when transfering/licensing it. Tax will be based on the sale price that you document…..

    Posts: 803

    The key word is document. I like to write a check and pay part of it in cash. I have never run into anyone who has said no to such a deal. Don’t make it stupid but say if you are buying for 10k ask if you can write a check for 7k and 3k in cash. Put 7k on the title and that is what you pay in tax.

    Red Eye
    Posts: 740

    If is a homemade house it can always be built out of “scavenged” materials that you got for “free.” Makes the end taxable price way cheaper.

    Nisswa, MN
    Posts: 1997

    No title and bill of sale it sounds like. Have a 1pm meeting today to inspect.

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