content top

Selling Real Estate-Better Safe than Sorry

Selling real estate is a complicated and potentially expensive process. Clear understanding of contracts, successful navigation of regulatory procedure, and careful resolution of real estate disputes are all easier when you have real estate lawyers on your side.

There are a number of legal problems that may occur when selling real estate. Even something as innocuous as a standard sale form instead of a specialized form, or improper filing times, can ruin a deal and potentially cost you thousands of dollars. Another small but important detail is the condition of the property being sold. A lawyer can recommend the proper precautions to take to ensure you are not caught off guard by any faulty infrastructure or damaged property. In the case of selling your home, if an agreement falls through you could be responsible for paying a brokerage fee in addition to the hassle of finding a new buyer.

Selling real estate also has wide ranging tax implications. You may know that, if you sell your home, you may exclude up to $250,000 of your capital gain from tax. This amount doubles for married couples filing together. This and other tax facts are available publicly, but may be difficult to find and understand if you are managing the sale yourself. If selling your home in Austin, Austin real estate lawyers can point out the network of tax savings and opportunities available to you. State taxes and depreciation must also be taken into consideration, as both can affect your tax filing and the profits from the sale of your property.

If you are ready to become involved in the sale of real estate, do not leave anything to chance. Contact a real estate lawyer to ensure you get all the money you deserve for your property.

Leave a Reply

Your email address will not be published. Required fields are marked *