What are you telling short sale sellers when it is not likely they will close before the tax waiver ends this year?
Tags:
Not to worry about it. If it's their primary residence then they still have the $250,000/500,000 exemption from capital gains. If it's an investment or 2nd home they may still utilize the insolvency exemption if qualified.
Have them speak to their tax professional. Chances of most short sellers owing tax after a short sale is slim to none.
Telling them not worry... most of the folks we're dealing with are financially insolvent. They should consult with a tax advisory or tax attorney.
© 2024 Created by Short Sale Superstars LLC. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.