Buying Family Home Tips

Summary

When buying a house from family in West Virginia, ensure the property title is clear, consider tax implications, and have a written agreement to avoid disputes. Sellers can request proof of funds to ensure you can afford the purchase. If your aunt wants someone else to control the transaction, insist on a written agreement outlining roles and responsibilities, seek advice from a local real estate attorney, and consider renegotiating the terms if uncomfortable.

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Trying to buy a house off family need some advice
Hello ****. It's important to consider several legal aspects when buying a house from family.
*. Ensure the property title is clear.
*. Consider tax implications.
*. Have a written agreement.
Could you please provide me with your location so I can provide more specific information?
West Virginia
Hello ****, here are some specific points for West Virginia:
*. Transfer taxes: There's a transfer tax when property changes hands, including among family.
*. Title search: Hire a title company to ensure the title is clear.
*. Family sale: Have a written agreement to avoid future disputes.
For more detailed advice, consider consulting with a local real estate attorney.
They're wanting to see proof of how much money I have before I buy the house can they legally do that
Hello ****, yes, sellers (including family) can request proof of funds to ensure you can afford the purchase. This is common practice in real estate transactions. However, you should only provide this information in a way that protects your privacy and security.
I'm buying the house off my aunt that owns the house but she's wanting somebody else to have full control over everything that happens with me buying the house after promising me it would only be her what should I do
Hello ****, you may want to:
*. Insist on a written agreement outlining roles and responsibilities.
*. Seek advice from a local real estate attorney.
*. If uncomfortable, consider renegotiating the terms or finding another property.
Remember, it's essential to protect your rights during this process.