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Yes, you can sell a house just after purchasing it. Depending on the profit that you make on the home, you are subject to pay Capital Gains Tax.
A capital gain is a profit that results from investments into a capital asset, such as stocks, bonds or real estate, which exceeds the purchase price. It is the difference between a higher selling price and a lower purchase price, resulting in a financial gain for the investor. -Wikipedia.org
In California, Capital Gains is 25% of your profit. Since you will not have lived at the residence for > 2 years, you will not be able to exclude up to $250,000 "Residence Exclusion" for a single person from your taxed amount. The amount that you are allowed to write off from your profit depends on how you hold title. Please reference the following:
http://www.irs.gov/pub/irs-pdf/p523.pdf
http://www.irs.gov
Also view this thread as it has a lot of good information:
http://answers.Google.com/answers/threadview/id/768757.html
Hope this helps. For more real estate stats/info/fun facts, visit my blog at www.wordpress.com/thomsonteam.
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Would you be considered a first time home buyer if you purchased and then divorced?
NO. A first time means just that. The purchase of a house is your first time purchasing a house.
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How much is the mortgage in Atlanta?
It all depends on the sells price of the house your looking at purchasing.
Will you be paying 3.8 percent tax if you sell your house after 2013?
in the obama health care plan what is the tax if you sell your house in 2013 and what income restrictions and price of house are part of this determination?
How long does it take for you to receive your house title after purchasing the home?
Till it's paid off
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It's not. Just don't sell it as a house, methinks. Good luck, though.
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just sell your current house and buy a new one.
Would you be considered a first time home buyer if you purchased and then divorced?
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no you can not sell your house on runescape.
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You cannot sell your house in Wizard101.
When was Sell This House created?
Sell This House was created in 2003.
How do you sell your house on smallworlds?
You can't sell your house on Smallworld.
