Wednesday, March 10, 2010

Short sales, foreclosures and taxes ... oh my!

In the light of the current residential real estate market, short sales and foreclosures in Florida are becoming more commonplace. As with standard real estate transactions, taxes play a large part in the closing process when it comes to short sales and foreclosures.

In Florida the closing agent is responsible for calculating the documentary stamp tax, intangible tax and other real estate taxes depending on the transaction.

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