All Forum Posts by: Allan L.

Hi Katie. Thank you very much for taking the time to post.  
I was hoping to find someone who understands real estate law and tax implications and then you appeared! The property is under the $11.18 million estate gift threshold and shouldn't cause adverse tax consequences. I'm sure the family member and in-law will be open to holding the title in order to make this structure work depending on the implications and the costs of going this route. I'd like to present both parties with the available options so that they can make an informed decision. Is this something you might be able to help with?
 
I have more details I'd like to share in private. I just sent you a Colleague request and I hope to be able to connect with you via message. Thanks!

Thanks for the advice on possibly going to second mortgage route. I will look into it. 
Aside from this issue, it sounds like as long as we have a title company which we need anyway for closing, we can do it ourself as long as we're available and willing to do the work. That's a huge saving considering some of the real estate agents I contacted have been quoting me anywhere from 1% - 2% of selling price.  

Hi Bill. The property is in California which I checked and attorneys aren't required. However, the house will be sold to a family member and in-law for less than market value but the seller would like the difference (the equity) will be gifted to only the family member as an early inheritance. Will this complicate things and should have an attorney? 
If we don't go this route, will just the title company guide us through the steps for example when to get an inspection, appraisal, and whatever other processes there are to close?

Hi Wayne. Will an attorney or title company, guide us through the steps for example when to get an inspection, appraisal, and whatever else they require in order to close?

We're selling to another member of the family and neither of us have a full service real estate agent. Is there anyone that can help us and what would this type of service cost?

Hi Tiffanie. I'm in a similar situation helping a family member sell to another family member. What was your experience like selling without agents? Did the title company help or would you advise hiring someone to do the job? Thank you.

My mother is planning on sell her CA home to my sister and her husband for 50% less than the current market price. She would like the equity being gifted to belong to my sister. How should she do this? 
Additionally, since it's a sale to a family member we don't need the full service of a real estate agent? What are some ways to close the sale with some guidance for a reasonable fee. How easy or difficult would it be to do this by ourselves? Any advice would be greatly appreciated. 

My mother is contemplating whether or not to sell her home in Sacramento, CA in order to cash out for retirement and I was wondering if someone can fill me in on what is the current market condition like.  
On a related note, although selling in 2018 would've been better, I personally don't think it's a bad time to sell right now either. My only concern is that she won't be able to put the cash into another investment especially when everything's been on a bull market for a decade now and capital has been sloshing around.  

@Charlise Philibert Thank you Charlise! I start looking for real estate agents in my target markets. 

@Joseph Catalano Thanks sent you a message!

@Brian Gibbons Thank you! My current loan isn't FHA and the seller's pre-approved loan more than covers the remainder on our mortgage. You're saying my first step is to find a title company in Honolulu correct?