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"AN EXCELLANT COMMUNICATOR"
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Real Estate Tips
Financing Your Home >Financial Help

Escalating home prices often cause many first-time buyers to seek help from their families for the down payment on a new home. If your parents are providing financial assistance for the purchase of a home, it is important that you have very clear agreements with them about the conditions under which their help will be provided.

Sit down with your parents to discuss the details of the arrangement. Is the money they are providing a gift or a loan? If it is a gift, be sure to check with your tax expert to minimize the tax implications. If your parents are loaning the money for the down payment, how will it be paid back? Will there be joint ownership with an equity-sharing agreement? Will your parents be named on the ownership papers with you? Are special documents needed?

Whatever form it takes, parents who help their children buy a home give them an incredible gift!

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Real Estate Trivia
Q 
Which metropolitan area in America currently offers the most affordable market in which to buy new homes?

A 
The housing market in Youngstown, Warren and Boardman, Ohio is currently the most affordable metro area in the U.S.
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The Morrison Sales Team, REALTOR®, real estate agents and broker for Truckee, Lake Tahoe, Northstar and Tahoe Donner, California home listings, property and land for sale - NUMBER1EXPERT(tm)

The Morrison Sales Team
Keller Williams Realty

11890 Donner Pass Road, Suite 6
Truckee, CA 96161
530-582-6900
Fax: 530-582-0193
christymorrison@NUMBER1EXPERT.com

Christy Morrison moved to Truckee in 1988 and started selling real estate in 1999. Over the past six years, she has sold over $36,000,000 worth of real estate in the Tahoe and Truckee area. With her pro-active business approach, she has consistently been a top producing agent in Truckee for the past four years.


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