Voiding An Nfa Transfer
Posted 27 September 2005 - 07:39 PM
Posted 27 September 2005 - 07:58 PM
btw, it takes almost a year to get a refund of the $200.
Posted 29 September 2005 - 11:07 AM
I always require 50% up front. It qualifles the buyer since if he can come up with half of the purchase price, he shouldn't have any trouble with the balance. I don't ask for full payment as the buyer might like having the feeling that the final payment will keep the seller motivated. Win-win.
You don't really care about the $200. The tax was paid by the buyer (transferee). To be blunt, that's his problem.
There is no procedure for a "mid stream" voiding of the transfer, at least not that is mentioned in the small print of the form 4, which is an excellent primer on the entire process.