Change Of Plans
There are many reasons why you might want to sell your house soon after you buy it. Perhaps you’ve gotten a new job offer in another state that you’d be crazy not to take. Or a sudden change in your health, or that of a loved one, may result in circumstances which force you to look into selling your new investment. Unforeseen events happen to people every day, and result in a change of plans. Some of these are more extreme than others. In any case, you may be asking the question; how soon can I sell my house after purchase?
The Short Answer
The easiest and shortest answer is any time. In fact, there’s literally nothing to stop you from walking away from signing the papers at the closing, and walking across the street to shake the hand of a new buyer there. But is that going to make you money or cost you a fortune? Well, if you’re not very careful, the latter is almost certain. The most common advice is to stay at least a couple of years before trying to sell, and there are sound reasons for this. To avoid capital gains taxes, which are typically 15% of the sale of your house, you must live in your house for a minimum of two years and it be your primary residence, before being exempt from this tax. Also, there is often a mortgage prepayment penalty for selling your home before a certain amount of time has gone by. Typically, this can be anywhere from 2-5% of the remaining balance of your loan. Plus, most likely you’re going to take a hit by the market value, by selling it too quickly. People tend to assume the worst, even if there’s nothing wrong with the place.
Exceptions To The Rule
As with most anything, however, there are exceptions to the rule. If you do your homework before trying to sell your house, you can usually avoid some, if not all, of these pitfalls. As far as capital gains taxes, if you have a reasonable excuse for the quick sale, such as that out-of-state job offer, you may not have to pay them. As for mortgage prepayment penalties, they are actually pretty rare these days. And when you’re talking about problems with the possible opinions of buyers causing market value issues, if you know how to sell, you can usually get around that bump in the road. But you can avoid that altogether, as well as any realtor’s fees and commissions, and even the often high closing costs, by opting to use a cash home buyer like Sellyourhousefastlv.
Advantages To A Cash Home Buyer
If you’re asking the question how soon can I sell my house after purchase, you are obviously already worried about the time factor. There are many advantages, in this case scenario in particular, to using the services of a cash home buyer such as Sellyourhousefastlv. One of these is time. It takes the average house 3 months to sell, after it’s been listed by a traditional real estate agent. Plus, factor in repair costs, cleaning extensively, open house showings, commissions for the agent, inspection fees, closing costs and any legal fees that may be required. Did you know the average commission is around 6% of the total sale price, and you’ll pay 2% for the closing costs, plus around 15% for inspection fees? These costs add up significantly before you know it. Not to mention the added responsibilities and concerns they represent. Imagine being free from worrying about any of that! It’s no wonder about the appeal of this, for using a cash home buyer instead.
Buying “As-Is”
So what exactly does buying “as-is” entail? And what does it mean to you? Let’s talk about this for a minute. When you decide you are going to sell your house, just the thought of getting inspections and doing repair work can be daunting. Simply getting the home ready for an open house showing, can be overwhelming, by itself. When you use a cash home buyer like Sellyourhousefastlv, you don’t have to worry about any of these things. As-is means just exactly that – no deep cleanings, no repairs, no inspections necessary. They even cover all costs associated with the sale of your house, including any legal fees accrued and all closing costs. This means more cash in your pocket, and many less concerns for you to worry about. Plus, they never charge any fees or commissions and you’re never under an obligation to accept their offer. So why wouldn’t you give them a shot, when you need to sell your house fast for cash? That seems to be a better question!
In Conclusion
Hopefully this article has shed some light on how soon you can sell your house after purchase. There are places who suggest 5 years, and many who say at least 2 years, in order to at least break even so you don’t lose money. But it all really depends on you, and if you have a good reason to want to sell it, there’s nothing at all to stop you from doing so, at absolutely any given time. Things happen in our lifetimes that are often not planned for ahead of time. Often, if we don’t take advantage of an unexpected opportunity that comes along, we end up later regretting it. Or if we choose to make a decision that goes against what we feel is right, it can come back to bite us in the end. Don’t let this kind of thing happen to you. If you need to make a tough decision, don’t let these kinds of worries get in the way. When selling your house fast becomes necessary, get people behind you that truly want to help. Call Sellyourhousefastlv to see what they can do for you. After all, you could miss the greatest opportunity of your life! You owe it to yourself to at least explore the facts.
