If you are UNfamiliar with Capital Gains * PLEASE * PLEASE learn about them....they effect how many people buy and sell real estate as well as how they buy and sell stocks. There is lots of information about this subject online and the EASIEST way to remember WHY they are important in real estate is found in this wiki-pedia entry.....Real estate sales are SOMETIMES subject to capital gains....knowing when and where is important when advising clients to buy or sell their investment and personal residence. (24 comments)