Quote:
Originally Posted by justjim
Nothing has changed regarding the contract you sign when you purchase a new home today. If you sell within a year the Developer gets the profit. However, when you deduct the sales commission and any upgrades made since purchase (landscaping etc. etc.) it is doubtful there would be any profit as that would easily "eat up" any profit. I too watch the real estate market----kind of a hobby of mine----we have bought and sold more than 20 homes since we have been married. Homes in TV have slowly risen but not near enough to start buying and "flipping" as was done a few years ago IMHO.
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I was told by my broker that if he sold your home the commission would be 6 percent. If you bought another home in the villages the commission would be 5 percent. That's with a village broker, buying in the TVs. I could not see you making any profit in only one year. I would think you would lose money. Oh yes ,if he did both sales they would take 1 percent off the price of the new home.