Listing Details: Auburn, Lewiston and Turner, Maine Real Estate Listings & Homes For Sale Provided by Sue Meservier

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Bobbi Lennie
"Don pretty much went out of his way to assist in the sale transaction..."
Bobbi Lennie
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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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Q	What house is considered to be the first house with running water in America?
A	John Headly's home built in Newport, RI in 1723, was equipped with an underground pipe from the nearby spring.
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Sue Meservier, REALTOR�, real estate agent and broker for Auburn, Lewiston and Turner, Maine home listings, property and land for sale - NUMBER1EXPERT

Sue Meservier - Meservier & Associates
The Maine Real Estate Network
75 John Roberts Road
South Portland, Maine 04106
34 Center Street Auburn, ME 04210
Office: 207-784-2525
Fax: 207-689-9801
Mobile: 207-576-5488
suemeservier@NUMBER1EXPERT.com
sue@meservier.com
"Today's Real Estate Professionals, Opening New Doors"
(Formerly of Keller Williams Realty Mid Maine)

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