We want to sell it and buy a new one. What's the best way to do this? Pick up the phone and call a realtor to put it on the market.
If this has been your primary residence in your name for the past 2 years then you can have a profit of up to $500K as a married couple without paying any taxes on the sale. If the home is only in your name then the profit is limited to $250K for the exclusion. What you do with the money you get is immaterial for the last 20 years.
