Buying
See what is actually there. Then decide.
Most buyers see a staged listing and a marketing tearsheet. They commit on photographs and a CPA-on-call. A pre-purchase IDist engagement is an information advantage the seller does not expect — verified permit history, contractor provenance, condition record, substantiated maker attributions, capital-improvement defensibility. Whether the residence is on the market or pocketed.
A signature residence is often the largest single transaction in an owner's life, and almost always made under conditions designed for the seller. Staged photography, scripted brokerage, a permit history accessed by appointment, a contractor identity held back as confidential. The buyer signs based on what they were shown.
IDist's pre-purchase engagement inverts that. Two to four hours on site, ten to fifteen weeks of attribution and substantiation work, and a delivered record that catalogs what is actually in the residence — every maker, every model, every installation date, every condition photograph. Permit history is pulled and verified. Contractor identities are surfaced from invoice records (where available) or reconstructed from manufacturer-side relationships. What the broker calls “custom finishes” becomes “a $48,000 Italian leather suite from a single workshop” or “builder-grade contractor-supply, replacement cost $9,000.”
The price you pay for a residence should reflect what is actually there. The seller knows. The broker knows. The buyer should also know. After the close, the dossier becomes the foundation: ST-124 substantiation begins immediately, basis is anchored, insurance reinstatement is pre-positioned, the residence enters ownership already documented.
How IDist serves this.
Acquisition basis anchored at close — IRC §1012.
Original cost basis is the foundation of every future tax position. IRC §1012 sets it at the cost of the property; IRC §1016 builds on it through every subsequent capital improvement. A buyer who closes with an IDist dossier starts on day one with an unambiguous basis record — purchase price, allocated improvements, attributed installed assets, condition baseline — instead of reconstructing it years later under audit pressure or at sale.
IRC §1012, §1016 · Treas. Reg. §1.1012-1, §1.1016-2
NY Mansion Tax exposure (buyer-side).
NY State and NYC mansion tax is buyer-paid: 1% on sales of $1M+, increasing progressively above $2M, $3M, $5M, $10M, $15M, $20M, and $25M after the 2019 NY amendments. On a $15M residence, the buyer owes approximately $300k in mansion tax alone. This is not avoided. It is, however, a calculable cost that should be priced into the offer — and the dossier’s condition substantiation can support the negotiation posture.
NY Tax Law §1402-a · NYC Admin. Code §11-2102.3 (2019 amendments)
Step-up in basis at death — IRC §1014.
For buyers acquiring through inheritance or trust, IRC §1014 steps basis up to fair market value at the decedent’s date of death. This eliminates accrued capital gain. The FMV must be defensible — qualified appraisal, documented condition, named makers, substantiation chain. A residence inherited with an IDist dossier walks into the appraisal with the evidence already organized; a residence inherited without one forces the heirs to reconstruct retroactively. On an $8M-to-$20M appreciation arc, the step-up eliminates approximately $12M of gain, worth $4M+ at the combined rate.
IRC §1014 · Treas. Reg. §20.2031-1(b)
Section 1031 — investment-property buyers.
Where the acquisition is investment property (not the primary residence), IRC §1031 permits like-kind exchange deferral on a prior investment sale. Strict timing: 45 days to identify, 180 days to close. The dossier supports the held-for-investment characterization through occupation records, rental documentation, and improvement allocation. Pure personal residences are excluded under §1031(a)(2) and Treas. Reg. §1.1031(a)-1(a) — the carve-out matters and must be respected.
IRC §1031 · Rev. Proc. 2000-37, 2008-16
Pre-purchase condition record — the negotiation posture.
Beyond tax, the dossier delivers a substantive condition record at the moment of offer. Builder-grade finishes mislabeled as custom. Permit irregularities that were not disclosed. Capital improvements claimed by the seller but unsubstantiated. Maker attributions that prove either to be a $300k Italian leather suite or a Restoration Hardware wrapper. The information advantage moves the conversation from broker-controlled to buyer-controlled.
Pre-purchase due diligence · IRC §1016 origination at acquisition
This is not tax advice. Your CPA, attorney, and qualified appraiser execute the position. IDist substantiates it — brand, model, vendor, invoice, install date, photo, and condition record — so the professionals on your side can stand behind the numbers.
you may also be
Quiet Sale
For owners selling one residence to acquire another — particularly CA→NY — the sequencing closes on both sides.
Capital Improvement
After the close, the dossier becomes the substantiation foundation. The first ST-124, the first invoice, the first attribution begins.
The Record
What IDist actually delivers. Pre-purchase engagement is one of the strongest moments to begin.
Begin with The Record.
One residence, documented to gold-standard. $7,500 foundation engagement, $500 deposit to reserve a slot. Cancel before the on-site visit if it is not the right time.
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