Is it legal to buy a home with the intention of immediately selling it at the same price?
- Beverly SLv 71 month ago
Sure, but it would be stupid since you pay fees when you sell a home, so you would lose money.Source(s): Mortgage lender 33 years.
- RichardLv 61 month ago
Coffee Drinker has best answer
- Coffee DrinkerLv 71 month ago
But perfectly legal.
You'll lose a ton of money in fees and taxes when you sell.
- SlickterpLv 71 month ago
Of course, or to sell it at a lesser price, or a higher price.
Of course, buying a home and immediately selling it for the same price is dumb, you would lose thousands in fees and closing costs.
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- babyboomer1001Lv 71 month ago
There are no laws against personal stupidity.
- SlumlordLv 71 month ago
Its legal but since there are 1000's of dollars in closings costs (not to mention holding costs and any repairs the new buyer may require), you will lose a considerable amount of money on this.
- PearlLv 71 month ago
i would ask a lawyer about that
- ANDRE LLv 71 month ago
It's legal but very stupid, as there are costs involved with selling a home, so you would pay them when you bought it and you'd pay some more as the seller.
Thus, you'd LOSE money by doing this.
- JudyLv 71 month ago
yes legal, but would be foolish.
- iansandLv 71 month ago
Not illegal. Just pointless.