I want to sell my home. I will have lived in the home 2 years come feb. If I sell and buy a home will I have
to pay capital gains? sell my home for 60,000 and buy a home for 65,000 I live in Maine and will buy in maine. And when would be a good time to put my home up for sale? I sold a home in Ma. 08 to move to maine,I did not pay capital gains as I lived in the home for over 13 years. ANY ADVICE would be appreciated.
You just have to live in your home 2 out of the last 5 years, or two consective years. There are currently no capital gains penalties in your price range($60,000-$65,000). Your house could go on the market at any time, with notice to the buyer, that closing can not take place until February or until the two year period has expired. Contact me if you have further questions.
adamsre@roadrunner.com
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