Monday, November 24, 2008

Sacramento Short Sale Sellers - please get tax and legal advice!

I can not emphasize enough that if you are planning to do a short sale for your home, PLEASE take a few minutes to speak with qualified tax and legal professionals.

I was contacted today by a potential short sale seller...she was looking for an short sale agent to list her Carmichael home and had discovered my website doing a Google search. She had already spoken to an attorney and thought she was well-armed with information, and was prepared to list her home in January.

As we started talking and I asked a few probing questions, it turns out the attorney she met with neglected to tell her about the possible tax ramifications of doing a short sale. I quickly referred her to a CPA so that she could research and strategize how to minimize any potential tax liability.

SELLERS - please gather this information in advance. If you are thinking about doing a short sale of your Sacramento area home, email me and I can refer you to qualified tax and / or legal professionals.

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