Quote:
Originally Posted by Lottoguy
In the paper yesterday there were 15 pages of homes for sale south of 44 in the newer area. Many of these homes are very expensive. Some of them over one million dollars.
According to the rules after a new sale of a home, you cannot resale that home until you keep it for one year. What are the reasons for selling these nice home after such a short time? I don't get it.
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I believe you can sell anytime. However, you can’t profit if built less than a year. The house next to me recently sold. The owner started construction last year, put it on the market at the 11 month mark and sold it between 12 and 13 mons after the house was complete. It sold for $1.1 and comparing it to my home which was built last year also judging by the sq ft and upgrades I would say the house cost approx. $750k. Not a bad ROI.