Legal Question in Real Estate Law in Colorado
Buying home from parents
Considering buying home from parents... Purchasing home for $220K from parents in which they will kickback 30K to us to help us pay off existing debt. Any issues here on the kickback ? Any advantages/disadvantages in purchasing home from parents ?
Asked on 3/15/07, 11:16 am
1 Answer from Attorneys
Re: Buying home from parents
The only problem I see is whether the 30K is a gift toward the down payment. A lender may have a problem with that. Other than this, I don't see an issue.
Answered on 3/15/07, 1:27 pm
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