Can I sell a lot that I bought for $10,000 for $15,000 a month later?

Question

Other than appraisal, if someone is offering to buy it from me for that price, are there any laws preventing me from taking that capital gain in such a short time period?

Answer 1

You will have to pay capital gains tax, but there are no laws preventing you from selling.

Congrats!   That is a huge profit for one month!

Answer 2

It's called profit. Congratulations.

Answer 3

The Capital Gains tax will make that almost worthless.  You should look into how a 1031 exchange works.  If you are able to make that much of a profit in one months time, imagine holding the land for a year and a day!  

With a 1031, you can roll earnings from this property into your next investment and defer the taxes.  GREAT opportunity here, because the tax on this deal would really put you right back where you started.  

You should continue to hold the property, and ask your real estate attorney about a 1031 exchange.  

Answer 4

No, its up to you.  But you may want to consult a tax professional on the capital gain tax on a short vs long sale.