There are no time restrictions on selling property you own. Several other responders have cautioned you about be aware of any pre-payment penalty in your mortgage note. However, they are rare in residential mortgages. You do not even have to close to sell. You can assign the contract if youare able to find someone willing to pay a higher price than you are for the property.
Licensed Real Estate Associate Broker
450 7th Avenue Suite 1501
New York, NY 10123
Best of luck to you in your real estate dealings. Feel free to contact me for more information or assistance.
Douglas Meyer, Realtor
Bergen Basin Realty
718 915-8003 http://www.bergenbasin.com
Most homeowners can sell their property anytime they wish, however, there can be special circumstances where you can be penalized. You need to speak to your mortgage banker and or attorney to find out for sure. Good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Also, a few years ago, the federal government offered buyers an $8,000 credit for purchasing a home. (This is no longer in effect.) If you benefitted from that credit, you may need to pay some of that money back to the government.
Call your lender first, then check with your tax preparer to determine what penalities, if any, may apply.