Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
Selling a house within the family
The house that I currently live in is in my parents name. They originally bought it using a HELOC loan from their house since the house was paid off. I now live in and pay all expenses on the second home so I am looking to buy it from them by taking out a convential mortgage and purchasing it from them. I've made improvements that have increased value on the house a good amount and plan to use a gift of equity from them as the 20% down.
Without going through a agent and just the bank and attorney, I'm looking for information on how standard fees for closing can be avoided and/or other good options to work with to make the transfer as seamless as possible with little extra expense.