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Real Estate Tips

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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Real Estate Trivia

Q 
Which home is #1 on the Top 10 list for most-visited Historic Home in the United States?

A 
Graceland, the palatial home of Elvis Presley in Memphis, TN, attracts 600,000 visitors a year.
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Joe & Missy Cleary, REALTOR®, real estate agent and broker for Sarasota, Venice, Bradenton, Longboat Key and Siesta Key, Florida home listings, property and land for sale - NUMBER1EXPERT

Joe & Missy Cleary
RE/MAX Alliance Group

5140 Ocean Blvd.
Sarasota, FL 34242
Office: 941-954-5454
Fax: 941-954-5455
Missy Cell: 941-809-3410
Joe Cell: 941-650-8485
Email: clearygroup@gmail.com

Hello! We are The Cleary Group of RE/MAX Alliance Group in sunny Sarasota, Florida. Our team of agents includes Brenda Bradshaw, Matthew Donovan and Cheryl Torres. We also serve Siesta Key, Pelican Cove, Bradenton, Venice, Longboat Key, and Lido Key, and have been selling in this area for over 10 years! We specialize in residential and condominium sales on the mainland and The Keys of Sarasota, Florida. Our high tech approach to the business enables us to keep close contact with our clients and to constantly learn new marketing techniques for our listings. We particularly enjoy working with people who are relocating to the area for retirement or those who are just starting new careers in this lovely community. Please call us toll free 1-877-814-1233 or email us today at Clearygroup@gmail.com. For all the latest news and information about the Sarasota area check out our blog at www.searchforsarsotahomesblog.com.

REALTOR GRI ABR MLS


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