Quote:
Originally Posted by Papa_lecki
It’s profit taking and the explosion of new builds in the last 12 to 18 months.
New buyer must wait 12 months before they can sell, to keep 100% of the profit. We are hitting that time for all the new builds around Richmmond.
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In addition to having to wait 12 months in order to keep any profits, one must wait 24 months in order to avoid paying federal taxes on the capital gains.