Category Archives: House Sale

In Monopoly, seems u get same $’s but lose title wen u sell property 2 bank vs mortgage. Why would u sell?

Reading the rules it seems you get half the value of the property if you sell it to the bank but you have no title. If you mortgage, you get the same amount, but still have the title. You could then sell the property to another player or unmortgage the property at some later point. Selling to the bank seems like a pointless option. Am I missing something?

How can you figure capital gains tax when selling property?

My mother sold me a piece of property in FL last November for $1.00. She bought the property back in the mid 70′s for about $7K and at last assessment the property could be sold for about $55K. I want to sell it in November (a year after she “sold” it to me). I am a school teacher in CA. I have no idea how to figure capital gains on something like this and was wondering if anyone could help me, or point me in a direction for help. Anyone have a ballpark figure on what the CG might be?