How do I buy parents 2nd home?

I agree with the NJ realtor here, get a lawyer, don't bother with a realtor, most don't really understand this end of it. The biggest thing you need to worry about in a transaction such as this is the transfer tax for the deed changing hands. You want a professional who understands the states conveyence laws so that your protected and pay as little as possible to complete the deed transfer. Most states require a tax affidavit or tax transfer form to be signed both both seller and buyer and some states even require the attorney to preside over the drafting of the deed, NY being one of them. I also recommend that you get title insurance for the transaction. While I understand that you want to believe your father and their are no liens, the ONLY way to be sure there are no liens is to have a search completed. The title insurance should also protect you against claims to the property, which you would not have if just a deed is filed, spend the couple hundred bucks and protect yourself and the property. Hope this helps

You can do a Quit Claim deed between your Dad and yourself and wife. Consult with a lawyer (and/or CPA) to see if there are any rules (or tax consequences) you need to know for your state, and have a title company file for you. You should also get title insurance from the same title company.

Once you own the house, you can get a Home Equity Line of Credit or a mortgage, if you'd like. You absolutely do not want to involve a realtor for this transaction.

Good luck.

If there is a sale, then taxes ought to be paid by way of the customer. Look into present transfers. There is a tax to be paid on estate that's a present however I feel it is plenty reduce. Anyway, both approach it sound like a well resolution for dad and mom. Good good fortune.

Hi Eddie

I am assuming this property is in Singapore.

It all depends on the name on title deed. It sound like all in your dad's name. And he'll have to sign papers if we sell. If u juz do a transfer... in any case if CPF was ever used... you will have to be prepared to pay back and top up his account

You don't need a realtor. Hire a lawyer. Congratulations!