The exclusion rules of home sales

In 1997 Congress enacted the law which states if you own and live in your home for two years, you can take an exclusion of up to $250,000 ($500,000 for a married couple filing jointly) for the old "replacement residence" rules.

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Dual agency

There is a lot of confusion about Dual Agency, who can represent whom, what arrangements are legal, what paperwork needs to be completed etc. Keep in mind that Maryland requires full agency disclosure while DC and Virginia only encourage full disclosure.

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What is FIRPTA Withholding?

The Foreign Investment in Real Property Tax Act (FIRPTA) of 1980 authorizes the United States to tax foreign persons who are nonresident aliens selling U.S. real property interests.A U.S. real property interest includes sales of interests in parcels of real property.

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