Can My Dad Buy My House In A Short Sale?
April 21, 2010 by Kristin LaVanway · Leave a Comment
Asking someone to buy your house for you at short sale may seem like a good idea…but it’s not.
Sure, you figure the bank is going to lose the money anyway, why not just have Mom and Dad buy that house in a short sale, then sell it back to you later at the reduced price. Dean Ouellette and I discuss why short sales must be arm’s length transactions so the Seller does not benefit from the sale, not at the time of the sale or in the future.
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I am a Realtor in Gilbert, AZ, working with clients throughout the Phoenix Metro area. I am lucky to love what I do and appreciate the difference I can make in people's lives.
In a previous life, I was a rocket scientist - really! - but decided to step away from corporate America to be a Mom to my four boys. Found it hard to do bake sales, so I ran a small independent programming business instead.
Flash forward...I am now a single mom and I face many, many challenges everyday. I am living through the hardships that many are facing in this economy. These experiences have motivated me to help other people in my shoes.
I have teamed up with Dean Ouellette to form the East Valley Team - the best darn team in the Valley. Check out our site at http://www.EastValleyTeam.com. I spend way too much time on YouTube - check ou tmy channel at http://www.youtube.com/klavanway
