News, updates, tips & facts about the Lending market and Real Estate.
Wednesday, July 29, 2009
Can gift funds come from the seller, lender or other interested party?
Answer: The gift donor may not be a person with an interest in the sale of the property (seller, real estate agent/broker, builder, or any entity associated with them.) The exceptions to this rule are when parents are the sellers,or when the real estate agent is a relative.