That’s amazing! BUT… don’t do anything until you talk to me first. Gifts from relatives and other approved individuals have to be documented in a very specific way. Depending on your loan program, this could include bank statements, cancelled checks, etc. Call me today to discuss how a gift could affect your loan process and what documentation must be provided. Buying Grandpa’s house and he wants to give you a gift of equity? I’ve got you covered on that too! Call today for details.
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That’s amazing! BUT… don’t do anything until you talk to me first. Gifts from relatives and other approved individuals have to be documented in a very specific way. Depending on your loan program, this could include bank statements, cancelled checks, etc. Call me today to discuss how a gift could affect your loan process and what documentation must be provided. Buying Grandpa’s house and he wants to give you a gift of equity? I’ve got you covered on that too! Call today for details.

ByBrandon Butler

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What is a “Rent Back Agreement”? When you purchase a home, there are times when a seller may ask to “rent back” the home after closing. There are many reasons why a seller may request this. For example, they may only want to move once, and the closing date on their new home is after this home’s closing date. Rent Back Agreements are generally not an issue provided they do not exceed 60 days, which is due to the requirements of your Deed/Security agreement required by your lender. If your seller requests this option, let’s talk!
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What is a “Rent Back Agreement”? When you purchase a home, there are times when a seller may ask to “rent back” the home after closing. There are many reasons why a seller may request this. For example, they may only want to move once, and the closing date on their new home is after this home’s closing date. Rent Back Agreements are generally not an issue provided they do not exceed 60 days, which is due to the requirements of your Deed/Security agreement required by your lender. If your seller requests this option, let’s talk!

ByBrandon Butler

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.