Credit check when selling?

[too-much-time]

Does your credit get checked when you sell your house? Chances are it doesn’t as you’re not applying for credit, but it seems like a credit check is needed for just about anything these days.

[ShanetheMortgageMan]

Only if you are applying for credit.

[Peter1142]

Title searches will check for banckruptcies and judgements, as they may affect your ability to transfer a clean title.

[DallasLoanGuy]

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@Peter1142 wrote:
Title searches will check for banckruptcies and judgements, as they may affect your ability to transfer a clean title.

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yep.  your credit isnt pulled.... but liens and judgments are found thru court records

[too-much-time]

Great. Thank you.

I have a follow-up question, if you happen to know the answer.

When you sell a house, but do not purchase another house within a short time, I understand that previous restrictions have been removed by law, so that there are no longer any tax consequences no matter how long that money sits in your bank account (well, except if your sale exceeds your original purchase price by more than $500,000). Would this be correct?

[ShanetheMortgageMan]

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@too-much-time wrote:

Great. Thank you.

I have a follow-up question, if you happen to know the answer.

When you sell a house, but do not purchase another house within a short time, I understand that previous restrictions have been removed by law, so that there are no longer any tax consequences no matter how long that money sits in your bank account (well, except if your sale exceeds your original purchase price by more than $500,000). Would this be correct?

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I am not aware of any restrictions that have been removed.  Definitely would want to consult a CPA or your tax adviser on that one.