This home offers comfort and style with beautiful kitchen and bathroom updates and warm Brazilian hardwoods throughout the home. The smart buyer will benefit from a lifetime warranty on the Thompson
Defer Taxes On Your Sold Investment Real Estate Property
Some additional rules are that the replacement property must be identified within 45 days after the relinquished property has been sold, all sales proceeds from the relinquished property must be held in escrow by a neutral party and go directly into the purchase of the replacement property, and the replacement property must be obtained no later than 180 days after the relinquished property is transferred.
The rules are very complex so make sure you seek both legal and tax accounting advice before you enter into any "like kind" exchange transaction.
Chuck Rifae has been a leading Northern Virginia Realtor since 2002. Chuck holds the advanced designation of Broker of Real Estate for both Maryland and Virginia. When Chuck is not working with buyer....