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giving home away

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txperson Guest	Posted: Wed May 26, 2010 1:20 pm    Post subject: giving home away Like 0 Dislike 0 If I should want to give my home to a family that needs one, the house is paid for. what all do I need to do. I want to go through a realator and have the person getting the house sign papers through them. I would pay the closing cost? or would there be any. We are in Texas _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Wed May 26, 2010 8:17 pm    Post subject: Like 0 Dislike 0 Hi txperson, I guess you want to gift the property to that needy family. You can use a quit claim deed and transfer the property to that family. You won't be liable for any closing costs as you will not be taking out a mortgage on it. If you are selling the property to that family, then they will have to take out a mortgage and pay the closing costs. _________________ Procrastination is the enemy of your financial success

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