How long do you have to live in your house before selling it?
Is there a limit or shortest time before you can sell your house, if you have a mortgage? I live in California.
Tags: mortgage
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If I have a mortgage and then sell my house do I have to pay it off or can I purchase a new house with it?
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selling a house. What cheap improvements should I make to sell my house?
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Penalties for taking house off the market and selling to an interested relative without a realtor?
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April 11th, 2010 at 10:01 pm
Check with your lender, but for tax purposes it is usually 2 years.
April 11th, 2010 at 10:01 pm
as far as the mortgage, check your mortgage documents for any prepayment penalties. other then that, i believe the timeframe for living in a home to avoid capital gains tax is 2 years. (250k exemption) if your concern is taxes i would recommend consulting a tax advisor. then there is of course looking at whether it would be a good financial move considering the market.
April 11th, 2010 at 10:01 pm
there is no time limit on living in the house – but with a mortgage you may run into a problem,,,,check on any pre-payment penalties