759,485
Not where the parents are paying for the kid's house. I sometimes deal with younger couples who will get a deal going through me & then they'll say "We just want to run my Mom & Dad through, can you show it to us again". Mom & Dad are usually supportive, most of the time.
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Michael Jacobs
Pasadena, CA
-
Steve Higgins
Kelowna, BC
-
Nina Hollander, Broker
Charlotte, NC
-
Bob Crane
Stevens Point, WI
6,417,434
Sometimes they are pushing and coaching the child to get out on their own.
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Michael Jacobs
Pasadena, CA
-
Steve Higgins
Kelowna, BC
-
Bob Crane
Stevens Point, WI
2,221,377
Yes I do. Just had clients that their parent are buying their 30 years old daughter, husband, and child a 1.4 million dollar home and paying cash.
-
Steve Higgins
Kelowna, BC
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Anthony Acosta - ALLAT...
Atlanta, GA
4,582,184
I have. Each transaction is unique in some aspect or another.
-
Steve Higgins
Kelowna, BC
-
Bob Crane
Stevens Point, WI
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
5,583,328
I provided down payments, closing cost and all inspection fees but I put a second mortgage on the property....the property was in their names.... the first mortgage was theirs..... when they sold or refinanced, I ws paid.... I have one still outstanding.... 5% vig on it, too!!!
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Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
5,254,035
Mine are buying for their children attending one of our local universities. They put the property in the parents' names. Some sell after their children graduate, others keep the property as investment property.
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Steve Higgins
Kelowna, BC
-
Bob Crane
Stevens Point, WI
-
Diana Dahlberg
Pleasant Prairie, WI
544,014
Nothing's ever good enough for their baby.
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Bob Crane
Stevens Point, WI
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
808,279
The parents I have dealt with are buying condo's for their kids attending university here, it is bought in the parents name.
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Michael Jacobs
Pasadena, CA
5,060,494
Thus far the parents who bought homes for their kids, in most cases, put all names on the deed. Some are just buying a condo for the kid to live in while at school, then will become an investment and then it's in the parent's name only, or a trust.
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Michael Jacobs
Pasadena, CA
2,684,569
Parents of FSU students buy a house, all the names go on the Deed. The nickname is "Kiddie Condo". They rent out the extra bedrooms to cover the mortgage (or generate income). When Junior graduates, they have 4 or 5 years equity in the house.
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Michael Jacobs
Pasadena, CA
715,782
We have had parents purchase property for their children, but they keep the title themselves. Or purchase it with their children title in both names.
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
-
Michael Jacobs
Pasadena, CA
519,324
I have. In once case the parents just put it in their name and let the kids live in it rent free. In another they were buying a place for their kids in college and they were going to collect rent from roommates.
-
Bob Crane
Stevens Point, WI
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
5,112,471
Amazingly enough, in 25 years I've never had a parent buy for a child. I've had grown kids buy for parents however.
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Diana Dahlberg
Pleasant Prairie, WI
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Michael Jacobs
Pasadena, CA
-
Steve Higgins
Kelowna, BC
679,404
Numerous clients have come to me with parents attached ... sometimes just for the moral support ... other times to give advice - and once where the parents bought the house and the kids rented back. I've had a few times when the parents got in the way of the kids doing what they really wanted, and some ended with the buyers letting the parents know that they could do this on their own. Many different experiences! Gotta love it!
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Steve Higgins
Kelowna, BC
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Bob Crane
Stevens Point, WI
87,920
Yes, and every time it is different and their choice.
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Bob Crane
Stevens Point, WI
-
Diana Dahlberg
Pleasant Prairie, WI
1,153,794
All of the above with parents buying in their names most commonly and in the kids names least likely.
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
3,988,013
Yes and it is usually they either pay cash or obtain finanicng in their names.
-
Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
1,553,094
Often!
UCSD parents are my bread & butter.
They keep the property in their name (parents').
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Debe Maxwell, CRS
Charlotte, NC
-
Diana Dahlberg
Pleasant Prairie, WI
1,712,776
I used to and it is one of the reason I sell investments only.
-
Bob Crane
Stevens Point, WI
-
Diana Dahlberg
Pleasant Prairie, WI
4,960,443
5,877,335
I have had the parents having a decision or financial interest in the kids' purchase.
1,728,156
We have in the past and the titling is dependent on the strength of the relations with the parties
1,435,300
I have dealt with many parents over the years as the kids are making a big purchase I only had one that was an Ahole but the deal went through as others have said they are usually supportive.
86,514
Yes and sometimes it maddening! I had a young gal who dripped of money, Gucci bag, baubles hanging from her wrist which cost about as much as a real good year for a Realtor. She was Taiwanese and her Father made sure his baby got whatever she wanted. EXCEPT for the house he was going to buy her, end of a cul-de-sac, door opened to a staircase going right up to the second story--he drove up, saw her standing in the doorway, honked his horn and said NO! Bad Feng Shui!
766,079
I have worked many children that the parents are helping with the finances and others that need their parents approval. It is an obstacle but great to see families working together. Parents are usually negative along the way.
3,349,404
1,506,013
Not too often. More likely to see them giving a substantial "gift" to their kids towards the downpayment.
5,772,581
It happens in college towns. One of our clients used to specialize in doing that at a particular University. She was a graduate and a member of the alumni organization. She had many leads as a result. A
716,529
902,038
I have had parents accompanying young adult children and maybe helping financially to some extent, but not with any specific financial vehicles. Always complicated when family gets involved!
921,504
The caption with the image reads "Non-US parent buying property for child."
This adds a true dimension that must be discussed with the parent. The real question is their long term intent. Long term plans benefit from having the real names on the deed. They may find buying a SUBWAY franchise to be their best option.
970,983
4,800,132
3,416,038
I have. In the last couple of years parents buying condos for their children who will attend college here.
7,863,173
The way title is taken is up to the parents.
It is often a mistake to be a co-borrower.
3,071,489
5,239,001
Usually under the kids name but have used trusts where the benenficial interst was transferred over time!
4,434,177
1,322,984
I had a listing a while back that was purchased, in cash - over $1Mil - by a Chinese family to be the home of their daughter who was soon to be wed.
It was interesting when the buyer's agent provided me with a proof of funds statement written in Chinese characters. One of out Team members translated for me. No problemo!
As I recall, the purchase was made in the names of the parents.
4,319,773
4,272,934
321,564
Recently we sold to parents. They purchased for their 34 year old son. We had the loan in son's name for a few weeks then changed to parents due to a discussion with parents bank. They needed to make the purchase and will rent to him. They paid cash.