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For Home Buyers:
Why Buyers Choose Deborah McCrae - Why homebuyers looking for a real estate agent in the Wake Forest, Raleigh and Garner area choose Deborah McCrae. Latest Listings - Get Deborah McCrae's latest Wake Forest, Raleigh and Garner listings of homes for sale first! Find Your Perfect Home - Deborah McCrae will search for your ideal home and email you the newest Wake Forest, Raleigh and Garner MLS listings of properties in Wake, Durham County NC. First Time Homebuyers - Are you a first time homebuyer in Wake Forest, Raleigh and Garner, NC? Choose a top real estate agent. Deborah McCrae can guide your home buying search. Mortgage Prequalification - Pre-qualify for a mortgage or loan for your Wake Forest, Raleigh and Garner house or other real estate or property. Home From Work - Click here for more information... Go to Main Sitemap - Main sitemap sections include Find Wake Forest, Raleigh and Garner Homes, For Home Buyers, For Home Sellers, Wake Forest, Raleigh and Garner Information, Real Estate Resources, and About Deborah McCrae. 
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Tax Considerations >Your Tax Free Profits
Significant tax reform legislation was signed into law with the Taxpayer Relief Act of 1997. This legislation replaced both the one-time $125,000 tax-free exclusion for homeowners aged 55 and older, and the "rollover" deferment of capital gains tax requiring the purchase of a replacement home of higher or equal cost within two years of the sale of your principal residence.
With this change, a married couple filing their taxes jointly pays capital gains taxes only on that portion of home sales profits that exceeds $500,000. Single taxpayers, heads of households, and married persons filing separately may exclude up to $250,000. The exclusion is available for all sales of homes that occurred on or after May 6, 1997. Homeowners can use this tax-free provision every two years.
You are allowed to keep these tax-free profits only if you have owned and used the home as your principal residence for two out of the five years prior to the sale of the property. Although the regulations do not require continuous occupancy, the IRS specifies that your principal residence must be the home you use for the majority of time during the year. Consult your tax advisor about your personal circumstance.
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| Q |
What is an encumbrance against a property, which may be voluntary or involuntary?
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| A |
There are many different kinds of liens: a tax lien, a judgment lien, a mortgage lien, and a mechanic's lien. |
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Deborah McCrae
World Properties International- McCrae Realty
7625 Kensington Manor Lane
Wake Forest, NC 27587
919-201-4361
Fax: 866-251-1948
deborahmccrae@NUMBER1EXPERT.com
Licensed in 1999, I, Deborah Georgetta McCrae have 10 years of successful residential and commercial real estate experience after having been a State of North Carolina employee for 19 years. I began working with Coldwell Banker Howard Perry & Walston always achieving Top Producer level, and in 2005 achieved the International President’s Elite Award, which was the second highest level one could earn.
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