If you intend to sell shortly after you buy, it’s not good to let the world know what you pay. There are a few ways to avoid this.
1. See if the closing agent will add more transfer tax to make the price you paid appear higher. Before doing so verify this is how the public picks up the sales price. May not be worth it if the tax is very high.
2. If the seller puts the property in a land trust before selling you the beneficial interest there should be no transfer tax. Selling the beneficial interest to you, ( personal property ) should not trigger transfer tax and therefore not disclose the sales price if the closing agent is on board and doesn’t file anything to disclose it.
3. If you lease with option and then resell there is no transfer tax until you do therefore nothing is going on public record. When your sale closes the seller will deed to your buyer and your profit will show as an option fee on closing statement. The buyer won’t even know the price you paid and even if they question the option fee it will be too late to do anything. This can be avoided if you ask the closing agent to prepare a closing statement for the buyer showing only buyers expenses and another for the seller preventing each side to see the others closing statement. You can also substitute the word option fee for something else that makes sense such as an invoice for repairs or payoff of an existing lien in your entities name or simply call it a loan repayment.
