Short Sales
For Sellers
Miami Short Sale Tax Implications
June 25th, 2008 Categories: For Sellers, Real Estate Chatter, Short Sales
Several of my clients have been sellers of distressed Miami homes. Homes where the owners were no longer able to keep up with the mortgage payments. In some cases, short sales were good options. In others, a short sale was not the solution and the owner allowed the properties to be foreclosed on.
Why would someone who is facing a foreclosure in Miami not want to get out of it if possible? The simple answer is tax implications. Allow me to explain. If you own a property that is facing foreclosure and you work out a short sale agreement with the lender, that lender is going to give you a form 1099 for the amount that was short to pay the loan off completely.
Discussion: 4 Comments »
|Short Sales In Miami Dade
January 13th, 2008 Categories: For Buyers, For Sellers, Short Sales
It occurred to me that 80% of the home buyers I am working with in Miami are looking specifically at short sales yet I do not have any short sale articles posted on my blog. Hmmm! It’s really because I am busy working the short sales and have not had time to write about them.
I promise to return and dedicate more blog space to short sales but at the very least I’d like to explain what a short sale is.
So… what exactly is a short sale? Very simply put, it’s when a property is being sold for less than the amount owed to the bank(s) on it.
The short sale process is more involved than the traditional home buying process. There are things to look out for whether you are the seller or the buyer in a short sale.
If you need more information on short sales before I have the opportunity to write more posts, feel free to contact me.
Discussion: 1 Comment »
|For Sellers
- For Buyers
- Real Estate Chatter
- Coral Gables
- Cutler Bay
- Kendall
- Palmetto Bay
- Pinecrest
- Southwest Dade
- real estate auctions
- Market Trends
- Marketing
- Short Sales
- Priced To Sell
- Community News
- Miami Homes Moving Tips
- Miami Homes
- Random Thoughts
- Market value
- Comparative Market Analysis
- Real estate appraisal
- Home Selling
- seller
- homebuyer
- incentives
- selling a home
- best offer
- house for sale
- Housing News
- Home Supply
- First-Time Buyers
- Home Buyers
- Home Sellers
- Foreclosures
- Home Sales
- divorcing homeowners
- home seller
- sellers
- tax
- home closing
- Comparable Sales
- Home Pricing
- Sell a Home
- Staged to Sell
- Home Staging
- Home Improvement
- Stage to Sell
- Open House
Categories
- Pinecrest
- Palmetto Bay
- South Miami
- Coral Gables
- Kendall
- The Redland
- Cutler Bay
- Southwest Dade
- For Sellers
- For Buyers
- Random Thoughts
Bookmarks
- Sewing Crafting Jewelry Blog
- Melbourne Waterfront Homes
- My Active Rain Blog
- Pinecrest FL Real Estate
- Palmetto Bay Homes
- Miami Short Sales