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. Unlike the...

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Like-kind Exchange

The exchange of real property for other real property (a "like-kind" exchange) may be a nontaxable event. To be a like-kind exchange, the property you transfer (the "Exchange Property") and the property you acquire (the "Replacement Property")...

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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...

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Homeowners insurance for condos

When it comes to insuring a condo, the rules are a little different since the homebuyer is sharing walls, ceilings, floors etc. Be sure your homebuyer realizes the "Master Policy" the condominium association provides probably does not cover...

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