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Updated over 4 years ago on . Most recent reply
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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.