based on what you provided the home sale exclusion would not be available to you. there are two basic rules. occupancy for 2 of 5 years before the sale which based on your statement you meet and ownership for 2 out of 5 years before the sale which you do not meet. you don't own it until you close on the purchase. sale shortly after purchase would be short-term capital gain which would get taxed at whatever bracket you are in. The price at which you can buy the house for is your tax basis,
