My parents are selling me their home, the value of the home is $120,000 and they are selling it to me for $80,000. The equity in the home is my inheritance. The mortgage company needs a gift letter, where can I find one?
2007-04-29 12:41:48 · 3 answers · asked by Deanna K 1 in Business & Finance ➔ Renting & Real Estate
Read this one. It might give you some ideas of what needs to be included in the letter. Your loan officer should have a template readily available via email.
2007-04-29 12:57:20 · answer #1 · answered by Mystique 2 · 0⤊ 0⤋
If you or your parents can't write a letter saying they are giving you the equity, estimated or agreed to be $80,000, then you need more help than a "template" can offer. And make sure they understand there may be tax consequences depending on the value of the rest of their estate and prior gifts.
2007-04-29 12:56:11 · answer #2 · answered by thylawyer 7 · 0⤊ 0⤋
Real Estate Gift Letter Template
2017-02-28 12:34:23 · answer #3 · answered by ? 4 · 0⤊ 0⤋