What happens when you sell your first home before the age of 5 without buying another one within 1 year?

The concessions are forfeited and the following must be returned: ordinary registration, mortgage and cadastral taxes, a surcharge equal to 30% of the same taxes.

As seen, if the first home buyer sells it before the age of 5, and within a year buys another to be used as a first home, he does not lose the benefits https://propertyleads.com/virtual-wholesaling-real-estate/

Selling your first home before the age of 5 is therefore possible, because no one forces people to ‘keep it’ for this period of time, but it is good to consider that the benefits are lost if you do not proceed with the purchase of another home to be used as a first home. The legislature on the subject is quite complex, especially if there are divisions of the properties at stake.

The advice is to weigh each choice , find out exactly about the house you are buying and contact a real estate agent to define the negotiation.

In fact, my agency follows the clients in a precise way, analyzing every aspect of the property thanks to the support of qualified technicians. This allows you to have the ‘cards in order’ and to count on a transparent sale, which in the event of a decision to sell your first home, allows you not to run into red tape or bureaucratic problems.

Time 1 year within which those who transferred the property they had purchased with first home benefits in the 5 years following the contract must buy a property to be used as a first home in order not to lose the benefits.

When you decide to proceed with the sale of a property it is possible that in some cases there are taxes to be paid by the seller of the property and by the buyer. Let’s see together what are the situations in which it is necessary to pay taxes on the sale of the house.

Some condominium premises tend to lose their function over time. In this case it is possible to proceed with the sale of the premises. Let’s see together if it is possible to sell a condominium room and how to do it.