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Strategy for Sale of Property
Hello everyone! I purchased a home in Oklahoma City as a vacation home in Apr 2022 and am currently planning to sell to my in-laws who are looking to get out of their current home due to unforeseen circumstances. What is the best method to sell this to them to avoid tax implications and fees/commission?
They have enough to pay the outstanding mortgage balance but not enough to cover my down payment (10%) and any appreciation. If we proceed with them paying just what's owed right now, will it be considered as sold as a loss? Any advice and information you can give me would be much appreciated!