Albuquerque, Rio Rancho, East Mountains and Los Lunas real estate and homes for sale in New Mexico -
Broadcast Realty
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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!
Broadcast Realty Your Local Real Estate Experts 3620 Wyoming NE Suite 100 Albuquerque, NM 87111 Main: 505-822-8864 Fax: 888-440-5809 Toll Free:: 800-888-3581 BroadcastRealty@gmail.com realtyperson@gmail.com
Broadcast Realty is a locally owned real estate company. We use every possible marketing tool to either SELL a Client`s home or to aid a BUYER in getting the RIGHT home at the RIGHT price. Please contact us by email and/or phone at ANY TIME. Thank You...and WE HOPE TO HEAR FROM YOU SOON!
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Albuquerque, Rio Rancho, East Mountains and Los Lunas, New Mexico
- NUMBER1EXPERT® 
