House Flipping Laws Vary By State
“House flipping” refers to the practice of purchasing distressed properties, usually either at a foreclosure sale or directly from the homeowner, at a discount, and then, after making repairs and upgrades, selling the property for more than was invested. The laws on house flipping vary depending by state, but are always complex and very particular. These laws involve significant understanding of how to proceed depending on whether the distressed property is a foreclosure, a sale from a deed of trust, or whether purchased directly from the homeowner. Tax implications can include whether it is a short-term or long-term capital gain, and the basis for the capital gain, if any.
The attorneys and tax consultants at Juris Law & Mediation are experienced in advising their clients on all aspects of “house flipping” and welcome the opportunity to discuss plans, whether you plan on flipping your first house or your fiftieth house.
Let us show you how you can actually love your property law attorney.
The attorneys and consultants at Juris Law & Mediation have years of business, life, and legal experience between them. As a result, their clients benefit from a no-nonsense approach to solving legal problems: quick, efficient, and cost-effective. The law should be accessible to everyone, and the attorneys at Juris Law & Mediation are ready to help you navigate the sometimes rough waters of your legal issues. Contact our office to schedule a consultation with a property law attorney today.
Juris Law & Mediation represents clients throughout the entire Kansas City and Topeka areas, practicing in both Kansas and Missouri. In fact, we help clients throughout Kansas and Missouri, including but not limited to Olathe, Lenexa, Shawnee, Overland Park, Gardner, Spring Hill, Louisburg, Lawrence, Leawood, Prairie Village, Fairway, Mission, Lee's Summit, Independence, Blue Springs, and beyond. With years of experience, our team is dedicated to helping you realize your legal goals.
