Sold For Dollar Amounts

Profile picture for suzanneelizabeth1
How does the "Sold For" dollar amount work?  I see that some say very low dollar amounts, like a $400K home sold for $2,000 - I know that is a rental price, but what about a $400K home that says it sold for $54,000 --- I don't understand that.
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September 26 2011 - Danville
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Profile picture for wetdawgs
That would be nice!

My parents' home was recently sold for a $1 according to the public records.  (Reality - transferred to a trust.)

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September 26 2011
Profile picture for suzanneelizabeth1
Thank you!  That makes sense.  I guess I can't get a $400K home for $50K, then.  LOL!  :-)
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September 26 2011
Profile picture for wetdawgs
Sometimes there are "sold for"prices that are a consequence of a family transfer, or sale of a partial share of the property.
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September 26 2011
 

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