Ask David

Gifting vs. selling: Land transfer tax and capital gains

Dear David: I bought a condo in 2018. The title is in my name. It’s not my principal residence, but my son lives there. I would like to sell the condo to my son for the $300,000 I originally paid for it, since I don’t want to make money off him. Is it better for

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Ask David

What if I price low and don’t get any offers over asking?

Dear David, These days, asking prices are intentionally being kept well below a property’s market value. What happens if the highest offer a seller receives matches this “undervalued” asking price? Is there a penalty if the seller rejects the offer? I don’t want to get burned. – PRICING PROBLEMS DEAR PRICING: Thanks for a great

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Broken Piggy Bank
Ask David

Clever marketing makes it look like home sold over asking

DEAR DAVID: We’ve heard some crazy stuff about selling prices these days. Some homes are selling for $50,000 over asking price and some for as much as $300,000 over asking. What’s going on? – BLOWN AWAY DEAR BLOWN AWAY: To understand what’s happening, we first need to differentiate between market value and marketing. Market value

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