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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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| Q |
What little-known folk remedy is said to help keep bats away from your home?
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| A |
According to some rural homeowners, if you tar and feather a two-by-four board and place it in your yard, it will ward off bats! |
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Lee Wilbanks And The W.R.E.C. Group
RE/MAX Dream Properties
37569 Five Mile Rd
Livonia MI 48154
Office Direct: 734-432-9342
Cell: 734-635-2390
Office : 734-462-3600
Toll Free: 866-4WILBANKS
Fax: 734-468-0808
Email: wilbanks@leewilbanks.com
Email: wilbanks@thewrecgroup.com
Lee Wilbanks is a 3rd generation Realtor. Lee's many accomplishments include: CDPE (Certified Distressed Property Expert), the Prestigious CRS, DGA, ABR, RECS, SRES, Professional Standards, Presidents Club, Chairman's Club, Top 10% Club, Life Time Achievement Award, Top Producer, Honored Professional of "Who's Who" in Executives in Business, Hall of Fame and Platinum Member. You can visit Lee at his web site or email him. Lee has lived in the Livonia, Novi, Northville and Farmington area for the past 35 years. He is married and has three children.
To buy or sell call the RE/MAX Realty professional LEE WILBANKS.       
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