Can sellers gift a down payment to the buyer of their home?
116424
There is no law against it .. however, it all comes down to the lenders individual guidlines. Your best bet is to have your LO look at the guidlines, and or contact the underwriters, and find one that will allow it. \n\nThere are alot of ways around this problem ... If you have a good LO he will know what to do.
177154
If they are selling a house to someone at below market cost or giving a below market mortgage, then it seems fair that they can set selling guidelines so that someone can't take advantage of the low purchase price.
1117541
Yes, anyone can. Just make sure that your are working with a good brokerage company or a good website like ameritrade.
560188
Yes. The person on the title can block your attempt to refinance.\n\nYou can wait to sell, but he will have the same veto power over any contract offer as well.
188147
Yes, however the existing policy the previous owner had on the real estate does not.  The new buyer needs to purchase his own policy to cover their insurable interest.
132958
I think the gift makes it difficult here.  Probably depends on the state, ask an attorney.
595964
It will really depend on your area. There are some cities that "gift" up to $100,000 toward the purchase of a home. What area are you in?
752058
I am assuming that you are talking about land/real estate contracts in where the seller finances the purchase for the buyer. If so this is done for a number of reasons but mainly it is done because the buyer does not have any money to lower the purchase price through downpayments. Because of the lack of equity in the purchase the seller deems the buyer a higher risk of foreclosure and therefore since the property will be taken off the market and the seller will not realize his money until the contract is paid, the seller usually charges a higher rate of interest on the amount being financed. The amount financed is up to the negotiations and what the buyer has available to put as a downpayment reducing the amount to be financed by the seller.\nBuena Suerte
12660
By offering collateral, such as your house.
1125116
no.....\nI can tell ya I have seen some other issues here if its not documented right. you can't sale the house or get loan unless if you all agrees. What if someone got sick, mentally disabled, or missing and family  needs money?\n\nBesides house, U might have other personal properties, car, bank balance, investments, 401K, life insurance(which generally has named beneficiary)\nI think u need to consult a lawyer in your state. it will cost u few hundred $$.\n\n.... just came something in mind. By doing this you are giving away control of your wealth to them. And may be for IRS it consider as gift and it may be subject to tax.
1019918
My husband and I bought our first home with a VA no money down, all we needed at the time was earnest money, which is basically good faith money you give to seller to know your serious about the purchase. (some sellers require a certain amount down. like $500.00)Also when we bought we had to offer the seller, their asking price plus closing costs, to cover all of our fees and put it all in the loan.Good luck and if you have ANY questions definitely talk to your lender and realtor!!Good Luck!!
981371
If you are the seller, email the buyer with a heads up and explain. The emails free so use it, the result will be well worth your time.\n\nIf you are the buyer, contact the seller and get an answer.\n\nThe golden rule still applies: "Treat others as you would want to be treated"\n\nBe patient though, it's the holidays too!!
990099
You can make an offer pursuant to the sale of your home. If the house your looking at to buy has been up for a while they may accept your offer with the condition that if someone comes along with cash they can forgo your offer. It's worth a try.
778266
probably depends on what you mean. If you sell something you have to make sure the person gets what they bought!!
516959
Someone who referred buyer or seller on the deal and is getting paid a percentage.
1106673
if you can agree with the buyer you can set anyday to move out. its up to you and the buyer
139200
Not if your buyer will accept w/out.