Real Estate

Generally the following steps are involved in a routine real estate transaction:

Perhaps the most common transaction in the area of real property is the purchase or sale of a residential property. In many states, real estate brokers, title companies, and escrow companies routinely handle purchases of residential property, without the services of a lawyer, in other states, attorneys handle various parts of the transactions.

Generally, under the Internal Revenue Code, you will be forced to pay taxes on any transaction that involves real estate and produces a gain at the time of the sale. However, if you sell your house, the Internal Revenue Code gives taxpayers a special tax treatment.

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