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Updated over 7 years ago on . Most recent reply

Robert Lee's profile image
Robert Lee's profile image
Robert Lee
  • from Naas, Kildare
  • Member since Apr 3, 2015
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Robert Lee's profile image
Robert Lee's profile image
Robert Lee
  • from Naas, Kildare
  • Member since Apr 3, 2015
Connect
Robert Lee
  • Naas, Kildare
0
Votes |
18
Posts
Buying & Selling Real Estate

Are there and penalties for selling a house BELOW market value?

Robert Lee
  • Naas, Kildare
Posted

Hey there,

Say I have a property worth $100k. I want to sell it to a relative/friend/anyone for $50k. Will either I (seller) or the new owner (buyer) incur any taxes/penalties? In an ideal world, I feel like I should be able to sell something I own for whatever I want to but I know Uncle Sam tends to think differently at times.

Any help is appreciated!

Thanks

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