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Personal Finance and Investing

FBaggins

(27,785 posts)

5. Not enough info

Reply to 3Hotdogs (Original post)

Mon Dec 14, 2020, 07:50 PM

Dec 2020

Your age (and that of your spouse) go into a calculation for what the value of the life estate is. Something close to appraisal minus that and minus the saved real estate commission is in the ballpark

You should contact a professional if there’s any chance that one of you will go on Medicaid at some point. It’s also a good idea for the conversion to be open with the other children to avoid potential hurt feeling later.

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Fair price sell house to daughter? [View all] 3Hotdogs Dec 2020 OP

Anything More Than 20% Below Appraisal Is Risky sfstaxprep Dec 2020 #1

How about going on Zillow or Realtor.com and see other comparable homes..Look and see mitch96 Dec 2020 #3

Zillow & Realtor.Com Are Famously Unreliable At Times sfstaxprep Dec 2020 #6

Unreliable, yes and they have a section where you can see "sold home" and get those prices. mitch96 Dec 2020 #7

sell it at the fair market price. it will go up in value for them over time nt msongs Dec 2020 #2

Don't Forget About The Annual Gift Allowance sfstaxprep Dec 2020 #4

Not enough info FBaggins Dec 2020 #5

Two of my spouse's siblings bought the family cabin for fair market value LakeArenal Dec 2020 #8

Daughter stays upstairs, rent out downstairs... turtleblossom Dec 2020 #9

You can decide what's fair Cicada Dec 2020 #10