May 2018

Found 2 blog entries for May 2018.

What Sellers Should Know About Vacation Homes TaxesSelling a vacation home is going to take a little more energy than selling a primary residence because the two are taxed so differently. The process becomes even more complicated if sellers generated rental income during their time of ownership. What are the tax implications of selling a second home? To understand the full implications of a sale, sellers should know the basics of capital gains, capital losses, and depreciation before putting the home up on the market.

For informational purposes only. Always consult with a certified tax expert before proceeding with any real estate transaction.

Capital Gains Tax: How It Works

How does capital gains tax work? A capital gain refers to the total cost of appreciation from the time the asset was

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Should You Worry About Home-buying Contingencies?Both buyers and sellers need to know about home-buying contingencies in a contract. These clauses can offer some advantages but may also create certain obligations that need to be met within stated timeframes. This may serve to move the purchase of a property along or provide a legal means for a party to get out of the contract. What should buyers and sellers know about home-buying contingencies?

Learn more about common Canadian home-buying contingencies before signing a contract today.

Where to Find Those Home Sale Contingency Clauses?

These clauses may be located within the real estate sales contract or contained within an offer to purchase property. For the transaction to be considered as binding, the contingency clauses must be met. If

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