Q: I own a home on which I still owe about $78,000. The original price was $112,000 and has appreciated enough to sell for about $140,000.

What is the best way to sell the home to my son, who has just landed a new job and wants to commute from home? I can join my husband in another town and live in the condo that he recently bought.

A: How much can your son afford to spend on the property? You can have him go to a lender to get preapproved for a loan, and then he can purchase the property from you, and pay for it himself in an arms’ length transaction.

If he can’t afford to pay $140,000 for the property, then you can sell it to him for whatever he can afford — hopefully enough to pay off the bank — and gift him the rest.

Please see a real estate attorney for details and to draw up the necessary documents.