Is it legal to buy a home with the intention of immediately selling it at the same price?

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  • 1 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.
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  • 1 month ago

    Coffee Drinker has best answer

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  • 1 month ago

    Perfectly legal.

    Stupid.

    But perfectly legal.

    You'll lose a ton of money in fees and taxes when you sell.

    • Nuff Sed
      Lv 7
      1 month agoReport

      Taxes? What taxes?

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  • 1 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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  • 1 month ago

    There are no laws against personal stupidity.

    • Nuff Sed
      Lv 7
      1 month agoReport

      lucky for you

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  • 1 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.

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  • Pearl
    Lv 7
    1 month ago

    i would ask a lawyer about that

    • Coffee Drinker
      Lv 7
      1 month agoReport

      You'd probably have a brain hemorrhage if you attempted to dial a 10 digit phone number in one sitting. your answers literally could not be more useless.

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  • 1 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.

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  • Judy
    Lv 7
    1 month ago

    yes legal, but would be foolish.

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  • 1 month ago

    Not illegal. Just pointless.

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