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Updated almost 8 years ago on . Most recent reply

Jordan Brenner's profile image
Jordan Brenner's profile image
Jordan Brenner
  • from Lewis Center, Ohio
  • Member since Dec 30, 2016
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Jordan Brenner's profile image
Jordan Brenner's profile image
Jordan Brenner
  • from Lewis Center, Ohio
  • Member since Dec 30, 2016
Connect
Jordan Brenner
  • Lewis Center, OH
0
Votes |
7
Posts
Buying & Selling Real Estate

Can i be gifted money for a downpayment

Jordan Brenner
  • Lewis Center, OH
Posted

I have a signed purchase contract for my first 4 plex. I will be going in on the deal with a few other family members as i don't have the cash for the 25% down-payment that is required.  

Is it possible/legal for them to transfer their portion of the downpayment into my account so i can be the sole person on the mortgage? This way only 1 of us has to be on the mortgage.

Any advice or ideas on possible workarounds would be appreciated. Thanks.

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