Property Tax Proration at Closing: Who Pays What

Property Tax Proration at Closing: Who Pays What

Property taxes don't stop accruing just because you're selling mid-year — and untangling who owes what for the months before and after closing is one of the more confusing lines on a seller's closing statement. Short answer: Property tax proration splits the year's property tax bill between the seller and the buyer based on how many days each of you owned the home during the tax period. Selle ...

The $250K/$500K Home Sale Tax Exclusion, Explained

The $250K/$500K Home Sale Tax Exclusion, Explained

There's one tax rule that matters more to most home sellers than any other single piece of the tax code: the home sale exclusion. It's the reason the overwhelming majority of people who sell their pri ...

Capital Gains Tax on Your Home Sale: What Sellers Actually Owe

Capital Gains Tax on Your Home Sale: What Sellers Actually Owe

Most home sellers never pay a dollar of capital gains tax on their sale. But the number of sellers who do owe something is growing, quietly, as home values climb faster than the tax exclusion limits ...

The Biggest Mistakes Long Island Home Sellers Make

The Biggest Mistakes Long Island Home Sellers Make

Long Island home sales are high-stakes by any measure — median prices in Nassau County regularly exceed $650,000, and the transaction process involves attorneys, New York-specific disclosures, complex ...

Cash Offer vs. Listing Your Long Island Home

Cash Offer vs. Listing Your Long Island Home

Cash home buyer mailers, digital ads, and "we buy houses" solicitations have become common across Nassau and Suffolk Counties. The pitch is consistent: fast closing, no showings, sell as-is, no hassle ...