Retirement implications selling primary residence

[David Trujillo]

Good afternoon BP.

My father wants to sell me his primary residence and move in with my sister. He is 64 yrs old. He collects social security and has a part time job. The Property is worth around $425,000. He wants to sell it to me at a discount. My question is how will a house sale affect his retirement and selling me the house at a discount will affect me?