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How soon can you sell a house after buying it?
Just my luck—I just closed on a house, when my absolute dream house just went up for sale. I think I want to sell my current house and move to a new one. How soon can you sell a house after buying it?
Nick Kunze · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
What a crazy situation! You can sell a house whenever you want, although you might lose money if you aren’t willing to wait a few years.
The second the house is in your possession, you can put it on the market. Nothing illegal there. However, you likely will lose money.
Even if you manage to sell the house for exactly what you paid, at the very least you’ll lose out on your buyer’s closing costs and eventual seller’s closing costs. Together, that could be over 15% of the home’s total value! Plus, selling a house costs money—you’ll likely need to pay a realtor and spend money to get the house in good condition to show it to prospective buyers.
Most realtors suggest waiting five years before selling or at the very least two years.
Whether you decide to stay or go, you’ll need
homeowners insurance
either way. To get the best homeowners insurance possible, you should download the Jerry app.Jerry
is a licensed brokerage app that makes it easy to find great coverage at a low price. Just sign-up to receive competitive insurance quotes from a long list of top providers. Best of all, joining Jerry is free!MORE: How to make a counteroffer after a home inspection
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- Gregory R.
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