OT: Money gift from parents for downpayment

[sdrealtor]

HLS,

Thanks for clearing this up and its good to hear the truth from a true expert. A little knowledge is a dangerous thing and thats why I try to steer clear of providing advice on things I have a little knowledge about.

BTW, great job on the property we closed together today. You advice and execution were as flawless as could be in this market. You are the real deal.

[Scarlett]

Thank you very much everybody! IF we decide to buy, we’ll put down at least 10% and my in-law ~ 50K, and we’ll make sure to get the money in our checking account at least 2 months before we start shopping for loans, probably right when we start looking at houses. I am relieved to find out that the gifts are not considered taxable income for us, and also, that we don’t have to put our parents on the loan. I completely agree with SD R and sdr, it’s just not a good idea, just in case something happens.

[Scarlett]

Thank you very much everybody! IF we decide to buy, we’ll put down at least 10% and my in-law ~ 50K, and we’ll make sure to get the money in our checking account at least 2 months before we start shopping for loans, probably right when we start looking at houses. I am relieved to find out that the gifts are not considered taxable income for us, and also, that we don’t have to put our parents on the loan. I completely agree with SD R and sdr, it’s just not a good idea, just in case something happens.

[Scarlett]

Thank you very much everybody! IF we decide to buy, we’ll put down at least 10% and my in-law ~ 50K, and we’ll make sure to get the money in our checking account at least 2 months before we start shopping for loans, probably right when we start looking at houses. I am relieved to find out that the gifts are not considered taxable income for us, and also, that we don’t have to put our parents on the loan. I completely agree with SD R and sdr, it’s just not a good idea, just in case something happens.

[Scarlett]

Thank you very much everybody! IF we decide to buy, we’ll put down at least 10% and my in-law ~ 50K, and we’ll make sure to get the money in our checking account at least 2 months before we start shopping for loans, probably right when we start looking at houses. I am relieved to find out that the gifts are not considered taxable income for us, and also, that we don’t have to put our parents on the loan. I completely agree with SD R and sdr, it’s just not a good idea, just in case something happens.

[Scarlett]

Thank you very much everybody! IF we decide to buy, we’ll put down at least 10% and my in-law ~ 50K, and we’ll make sure to get the money in our checking account at least 2 months before we start shopping for loans, probably right when we start looking at houses. I am relieved to find out that the gifts are not considered taxable income for us, and also, that we don’t have to put our parents on the loan. I completely agree with SD R and sdr, it’s just not a good idea, just in case something happens.

[Author]

Posts