Selling paid of property

[Stord Jacob]

So I have a property am selling. it’s paid off with no liens or anything on it. However, it seems because of the recent rise in interest rates, it has unfortunately push most potential buyer to get qualify for the monthly payments; Consequently, I was wondering since it’s owned free and clear, do I have any potential creative selling method I could use… just brain storming, thanks.

[Cliff Benner]

Quote from @Carlos Silva:

I'm close to having a rental property that is an older home that I want to get rid off as well. To avoid taxes, I was thinking of about borrowing as much as I can against it and then sell the property.  I am thinking I will only owe taxes on the excess.  I plan to reinvest the proceeds into a newer home.

 Talk to your Accountant first, gains are not based on what is owe on a property but the tax basis of the property from purchase and improvements made.