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  #21  
Old 05-25-2015, 01:29 PM
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gerryann gerryann is offline
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Quote:
Originally Posted by dbussone View Post
We all signed that. If I recall, you will split the profit with TV.
Nope. TV gets all of the profit.

Quote:
Originally Posted by TheVillageChicken View Post
I don't know the answer to that question, but I do know that if you sell your residence before living in it for two years, you cannot exclude the capital gains on your tax return.
There are so many exclusions to that. I have sold many homes before the 2 year limit. Some are....illness, retirement, divorce, closer to work, etc, etc.

  #22  
Old 05-25-2015, 02:48 PM
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Barefoot Barefoot is offline
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Quote:
Originally Posted by Erijo View Post
I think if you sell for anymore money over your purchase price, the profit has to go back to the villages.
I believe it is your profit LESS real estate expenses incurred.
However if you had a medical emergency or a compelling reason to sell,
I think The Villages may make an exception.
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  #23  
Old 05-25-2015, 04:00 PM
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Barefoot Barefoot is offline
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Quote:
Originally Posted by Erijo View Post
I think if you sell for anymore money over your purchase price, the profit has to go back to the villages.
I think that real estate expenses can be deducted from the profit.
And if you have a medical or other compelling reason to sell, I've heard The Villages can be compassionate.
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Saving one dog will not change the world, but surely for that one dog, the world will change forever.
  #24  
Old 05-25-2015, 04:07 PM
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John_W John_W is offline
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By profit, they also mean you can tack on improvements to the cost of the home. Let's say you paid $200K for your home. You add landscaping, driveway coating, window treatments, etc for a grand total of $20K. That means anything more than $220K would be profit, not $200K, also don't forget to deduct real estate commission from your profit. That now takes you up to about $233K before you realize any profit.
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