It also makes a difference how the person is positioned relative to a foreclosure.The one losing the property, the lender, the buyer of the property...John Corey

If the above is not clear or you just want to ask related questions have a go.

Am so delighted to find a :groovy: community that I can relate too.

The title issue is more related to estate planning.

if you've had it professionally appraised and talked with a number of realtors who have given you information that leads you to believe you can get 500k with relative ease (within 90 days of listing), yes then it's probably worth 500k.second - you owe A LOT OF MONEY on it already.

Anyhow the house is no more then 10-12 years old so its in relatively good structural shape.

I have spent some time in the Phoenix area in the past and still have friends and relatives in the Valley.

Mostly folks who become RE rich but cash poor while they wait.I sent you a PM on a related item.

Even if the housing market has a nice uptick and people start really scratching for homes near the train areas, this could be a $425k home in relatively little time, in my opinion.There are sellers of "rental homes" in rundown neighborhoods where I would never want to live.

The IRS rules for not paying the tax on the gain are not going to work all that well if you cook up a sale like you are suggesting.You might be able to sell to a related party (sister or an LLC you own).