Winnipeg real estate and homes for sale in Manitoba - Steve Mackenzie, REALTOR® Steve Mackenzie REALTOR(r) for Winnipeg, Manitoba real estate - NUMBER1EXPERT™ Steve Mackenzie NUMBER1EXPERT(tm) for Winnipeg, Manitoba real estate

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Steve Mackenzie, REALTOR®, real estate agent and broker for Winnipeg Manitoba home listings, property and land for sale - NUMBER1EXPERT(tm)




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Real Estate Tips
Financing Your Home >Financial Help

Escalating home prices often cause many first-time buyers to seek help from their families for the down payment on a new home. If your parents are providing financial assistance for the purchase of a home, it is important that you have very clear agreements with them about the conditions under which their help will be provided.

Sit down with your parents to discuss the details of the arrangement. Is the money they are providing a gift or a loan? If it is a gift, be sure to check with your tax expert to minimize the tax implications. If your parents are loaning the money for the down payment, how will it be paid back? Will there be joint ownership with an equity-sharing agreement? Will your parents be named on the ownership papers with you? Are special documents needed?

Whatever form it takes, parents who help their children buy a home give them an incredible gift!

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Real Estate Trivia
Q 
Where was the first hotel built in the US?

A 
The Union Hotel (1802) Saratoga Springs, NY, is the first hotel emphasizing lodging and services, in addition to food and drink.
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Steve Mackenzie, REALTOR®, real estate agent and broker for Winnipeg Manitoba home listings, property and land for sale - NUMBER1EXPERT(tm)

Steve Mackenzie
Royal LePage Dynamic

1450 Corydon Avenue
Winnipeg Manitoba
Canada R3N 0J3
204 989-5000
877 855-0010
Fax: 204 989-7911
Email: SteveMac@RelocationWinnipeg.com

Performance NOT Promises - 100% guaranteed or my commission back - Knowledgeable and outstanding commitment and marketing

Equal HousingMLSREALTOR


Royal LePage Dynamic real estate and homes for sale in Winnipeg Manitoba

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