Parents can legally sell a home to their children for $1, but the IRS often treats the difference between the $1 and the fair market value as a gift , which may trigger gift tax reporting requirements.
You may see $1 listings on sites like or Realtor.com , but these are rarely intended to sell for that price. buy a house for $1
Sellers use $1 as a starting price to spark bidding wars and gain viral attention. Parents can legally sell a home to their