Home Selling in Worcester>Question Details

Chad, Home Seller in Worcester, MA

1099 request from buyers attorney on my house sale

Asked by Chad, Worcester, MA Tue Jun 24, 2008

I am selling my home, normal sale no debt relief. The buyers attorney is asking for my 1099. What am I supposed to provide?
Thanks!

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3
The attorney normally does all governemnt required forms as part of the closing at the closing table. You need your social security number and a govenment issued phtoto id.
0 votes Thank Flag Link Wed Mar 18, 2015
Chad

Ditto to Keith's response. If you are the Seller (or even the buyer), there is no need for your income to be verified. As far as I know, the only 1099 Doc is a tax statement recording income given to sub contractors which is used in filing income taxes. I've no clue, and maybe you need to ask the buyer's attorney directly why he would need such documentation, if you aren't using a Realtor. Otherwise, your Realtor should be walking you through this process. Many issues arise in transactions, such as this. Realtors do much more than just show pretty houses all day! Good luck! ;-)

Vanessa Riffelmacher
Graduate of the Realtor Institute
REMAX Colonial
978-877-8087
0 votes Thank Flag Link Wed Jun 25, 2008
Chad
Did you use a REaltor in this transaction? I do not work your market, but I cannot imagine why your buyer needs a 1099. I would speak with a CPA for financial advice.

In California the Franchise Tax Board requires proof that you are the legal owner and also retains a portion of the proceeds to make sure that any taxes due are paid. Perhaps your state has similar laws.

I would definitely ask.
0 votes Thank Flag Link Tue Jun 24, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
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