At Closing the Title Company will prepare a Settlement Statement outlining the cost for settling the real estate transaction. Some of the cost below will be on this form. Broker Commissions: The Broker commission agreed upon when the listing agreement was executed...
The Florida Homestead Exemption is a constitutional benefit of up to a $50,000 exemption removed from the assessed value of your owner occupied property. It is granted to those applicants who possess title to real property and are bona fide Florida residents living in...
An important exception to the capital gains tax can be had when you are selling your home. You can exclude $250,000 of your profit from the sale of your home if you are single and $500,000 of the profit if you’re filing taxes jointly as a married couple. However, you...
Under Section 1031 of the United States Internal Revenue Code (26 U.S.C. § 1031), a taxpayer may defer recognition of capital gains and related Federal income tax liability on the exchange of certain types of property. In 1979, this treatment was expanded by the...
