R
ROS123
Guest
We are looking at selling our house to our daughter. We are moving to another smaller house which is costing less than the value of our house. For example we are purchasing at 200, our house is worth 260. Our daughter can only get 90% of the mortgage. Can we sell at 240 having given our daughter 20 for the 10% deposit. When she gives us 240 we are actually getting back the 20 we gave her for deposit. The total value of the mortgage is still less than the true value of the house.
This came up in a disucssion at a party last night and I am wondering at its feasibility. One person claims to have done this earlier in the year.
This came up in a disucssion at a party last night and I am wondering at its feasibility. One person claims to have done this earlier in the year.