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See This Report on Cash Land Sales: Attention all tired land owners

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Some Known Factual Statements About Fireside Land: Sell Your Land Fast for Cash


Regrettably, the exact name of this file differs a fair bit from one state to another, so although it serves the very same basic function, it can seem a bit more complex than it truly is. For example: In Arizona, it's called an "Affidavit of Residential Or Commercial Property Value" and it appears like this.


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In Maine, it's called a "Realty Transfer Tax Statement" and it looks like this. In Hawaii, it's called a "Conveyance Tax Certificate" and it looks like this. In Check it Out , it's called a "Declaration of Value" and it appears like this. If you're not sure whether your state requires this form, this video discusses how you can figure it out You understand.



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IRS Form 1099-S In lots of (though not all) scenarios, the individual accountable for closing the transaction is required to submit Form 1099-S with the IRS. There are some exceptions where this form isn't required, however as a general practice, if you're planning to facilitate the signing of these closing files yourself, it's an excellent idea to either: Plan on filing this form yourself.


Whether you file the form yourself or designate the other party to do so it's a relatively straightforward procedure (however it can take a little learning if you have actually never ever done it prior to). To find out more about why the 1099-S is necessary and how you can manage the filing procedure in your closings, take a look at this blog post.


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