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School Reports in Clarkston, WA, Lewiston, ID and Asotin, WA, Washington

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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 is the world's most valuable piece of furniture?
A	The 18th century Italian Badmiton Cabinet owned by the Duke of Beaufort sold in 1990 at Christie's, London for $15.1 million dollars.
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The Results Realty Team, REALTOR®, real estate agent and broker for Clarkston, WA, Lewiston, ID and Asotin, WA, Washington home listings, property and land for sale - NUMBER1EXPERT(tm)

The Results Realty Team
Results Realty
931 Sixth Street
Clarkston, WA 99403
Business: 509-758-8500
Toll Free: 888-243-7400
Fax: 509-758-0144
Email: results.realty@gmail.com
Results Realty is a full service professional real estate company founded in 1996 by Broker/Owner Cindy Perttu. Working together as a team, the agents at Results Realty are dedicated to providing Superior Service to our clients at all times.

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