Buying a House from a Family Member?


Business dealings with family members can be tricky. The best advice is to treat them no different than you would any one else. Insist on everything being in writing and everyone having a full understanding.
Q&A Related to "Buying a House from a Family Member?"
1. Pay for a home inspection. The person selling the house may not know of anything wrong with the property, but it may still have issues. It is best to pay a professional to find
1 Decide what kind of deed you want to transfer. Most transfers between family members are done by quitclaim deeds. Offer a warranty deed if you want to include a statement that you
when you personally feel so.
Pros: Rental Revenue, cheaper cost per unit when compared to single family. If you are in the building trades (plumbing, carpentry, electricity) you can make improvements at cost
Explore this Topic
Technically, no you can not buy a house from a family member that has a reverse mortgage on it. By default, if the loan is not paid off the house gets deeded to ...
A family member can buy his or her parents' house in a short sale through CitiMortgage. The short sale would have to be approved by CitiMortgage like any other ...
Get a freeloading family member out of the house by informing them of their inconvenience. Suggest housing options they can afford and show them the benefits they ...
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