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"Hello from Tom and Elaine. We know that you are interested in buying or selling. So are we! Discover Tom and Elaine. It's easy- call 256 714-2220."
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Moving your family to another town or state is a major event in your life! We have helped many families and individuals relocate!
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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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| Q |
What three things are necessary in order to purchase a home?
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Some cash, a dependable income and good credit. If you fall short, don't despair--homeownership may still be possible. |
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The Tom & Elaine Team
Keller Williams Realty
2410 L&N Drive, Suite C
Huntsville, AL 35801
256 714-2220
Fax: 256-705-0780
TomandElaine@NUMBER1EXPERT.com
The Tom and Elaine Team, including Gloria and Cheryl are successful Realtors and successful Administrative staff, but even better, they are successful at life. They love working so that their clients have a stress-free process in moving from one home to another. They have values and they put those values to work: integrity, honesty, truthfulness and teamwork. Then they toss in friendliness and just plain fun! It all adds up to success for everyone.
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