I thought this information would be helpful since this topic has been in the news lately.  I am glad to see that we finally have a decesion on the matter!

 DOR ISSUES SHORT SALES DOC STAMP RULING

The Florida Department of Revenue (DOR) issued a ruling late yesterday stating that doc stamp taxes owed on a short sale should be based on the sale price paid by the purchaser and not on the sale price PLUS any amount forgiven by the home seller's lender. DOR's ruling is effective immediately. A problem arose because Florida law does not clearly explain doc stamp fees on a short sale; consequently, local governments were making their own decisions and charging different amounts. FAR stepped in to officially request a Technical Assistance Advisory (TAA) from DOR, which would give Realtors a specific document that explains the short sale doc stamp procedure. "Just like Florida Realtors, DOR officials were concerned about how this issue could affect Florida homebuyers and sellers and its potential impact on the real estate market's recovery," says FAR Public Policy Representative Trey Price. "Advisories can sometimes take months or even a year before a conclusion is made, however, so DOR's quick decision illustrates their understanding of the importance of this issue." The TAA is available at http://www.floridarealtors.org/LegalCenter/HotTopics/index.cfm. Still have questions? Contact FAR's Public Policy Office in Tallahassee at 850-224-1400.

I am so excited to be on Active Rain - We work with Realtors every day and to find a whole community here together is fantastic. Just to give you snapshot of what we do and how we operate!

Whatever it takes - as in "We do whatever it takes to get your deal to closing!" We also have a committment to making sure you know what is goin on with your deal throughout the process, from the good faith check to making sure you clients remember to sign up for homestead!

If you have any Title questions (even if you are using someone else), please do not hesitate to call us! We look forward to working with you!