Member agents on Top Agent Network recently hotly debated a reported “3.8% home sales tax” that is supposedly included in the Obamacare Health Care Bill. One concerned agent posted, “If you sell your $400,000 home, there will be a $15,200 tax.” 

Can this be true? 

The answer is it is NOT true! 

TAN member agents quickly blasted out 20 replies.  As factcheck.org explains it (full article),

“The truth is that only a tiny percentage of home sellers will pay the tax. First of all, only those with incomes over $200,000 a year ($250,000 for married couples filing jointly) will be subject to it. And even for those who have such high incomes, the tax still won’t apply to the first $250,000 on profits from the sale of a personal residence — or to the first $500,000 in the case of a married couple selling their home.”

While TAN should not be used for political messages, it is a great place for member agents to inform one another on important real estate information and dispel rumors. That is exactly what the discussion did. Many people were/are confused about this very issue but Top Agent Network’s collective knowledge got it right!

So keep those posts and replies coming!

David Faudman, Founder/CEO Top Agent Network, Inc.