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Message
re: Purchasing a home from parent/family
Posted on 9/24/20 at 6:48 pm to cgrand
Posted on 9/24/20 at 6:48 pm to cgrand
My situation is very similar to the one you described, the furniture would stay, attic/garage storage, extra bedrooms available to guest( until kids-far awag) etc.
But just need to confirm they aren’t in need of cash/lump sum. If they are sure about that then everything will be fine with owner financing.
Also need to double check on tax benefits/consequences
But just need to confirm they aren’t in need of cash/lump sum. If they are sure about that then everything will be fine with owner financing.
Also need to double check on tax benefits/consequences
Posted on 9/24/20 at 8:05 pm to MLSter
There are tax consequences to making a interest free loan.
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