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Ricardo Mello, Manhattan & Miami Real Estate Agent (Manhattan Miami Real Estate)

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Rainmaker
759,485
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Not where the parents are paying for the kid's house. I sometimes deal with younger couples who will get a deal going through me & then they'll say "We just want to run my Mom & Dad through, can you show it to us again". Mom & Dad are usually supportive, most of the time. 

Jun 12, 2018 05:13 PM
Ambassador
6,417,409
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Sometimes they are pushing and coaching the child to get out on their own.

Jun 12, 2018 05:14 PM
Rainmaker
2,221,377
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Yes I do.  Just had clients that their parent are buying their 30 years old daughter, husband, and child a 1.4 million dollar home and paying cash.

Jun 12, 2018 08:51 PM
Rainmaker
4,582,184
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

I have. Each transaction is unique in some aspect or another. 

Jun 12, 2018 07:02 PM
Rainmaker
5,583,328
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I provided down payments, closing cost and all inspection fees but I put a second mortgage on the property....the property was in their names.... the first mortgage was theirs.....  when they sold or refinanced, I ws paid.... I have one still outstanding.... 5% vig on it, too!!!

Jun 12, 2018 05:19 PM
Ambassador
5,254,035
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Mine are buying for their children attending one of our local universities. They put the property in the parents' names. Some sell after their children graduate, others keep the property as investment property.

Jun 12, 2018 09:00 PM
Rainmaker
544,014
Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Nothing's ever good enough for their baby.

Jun 12, 2018 07:04 PM
Rainmaker
808,279
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

The parents I have dealt with are buying condo's for their kids attending university here, it is bought in the parents name.

 

Jun 12, 2018 06:17 PM
Ambassador
5,060,494
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Thus far the parents who bought homes for their kids, in most cases, put all names on the deed. Some are just buying a condo for the kid to live in while at school, then will become an investment and then it's in the parent's name only, or a trust.

Jun 12, 2018 06:02 PM
Ambassador
2,684,569
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

       Parents of FSU students buy a house, all the names go on the Deed.  The nickname is "Kiddie Condo".   They rent out the extra bedrooms to cover the mortgage (or generate income).  When Junior graduates, they have 4 or 5 years equity in the house.

Jun 12, 2018 05:41 PM
Rainmaker
715,782
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

We have had parents purchase property for their children, but they keep the title themselves. Or purchase it with their children title in both names.

Jun 12, 2018 05:40 PM
Rainmaker
519,324
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

I have. In once case the parents just put it in their name and let the kids live in it rent free. In another they were buying a place for their kids in college and they were going to collect rent from roommates. 

Jun 12, 2018 05:30 PM
Rainmaker
5,112,471
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Amazingly enough, in 25 years I've never had a parent buy for a child. I've had grown kids buy for parents however.

Jun 12, 2018 05:21 PM
Rainmaker
679,404
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Numerous clients have come to me with parents attached ... sometimes just for the moral support ... other times to give advice - and once where the parents bought the house and the kids rented back.  I've had a few times when the parents got in the way of the kids doing what they really wanted, and some ended with the buyers letting the parents know that they could do this on their own.  Many different experiences!  Gotta love it!

Jun 12, 2018 09:00 PM
Rainer
87,920
Jeff Perlis Prime Properties
Prime Properties - Lake Arrowhead, CA
Experience Your Own Transformation!

Yes, and every time it is different and their choice. 

Jun 12, 2018 09:00 PM
Rainmaker
1,153,794
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

All of the above with parents buying in their names most commonly and in the kids names least likely.

Jun 12, 2018 08:05 PM
Rainmaker
3,988,013
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Yes and it is usually they either pay cash or obtain finanicng in their names.

Jun 12, 2018 07:43 PM
Rainmaker
1,553,094
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Often!

UCSD parents are my bread & butter.

They keep the property in their name (parents').

Jun 12, 2018 07:34 PM
Rainmaker
1,712,776
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I used to and it is one of the reason I sell investments only.

Jun 12, 2018 05:22 PM
Rainmaker
4,960,432
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

It has happen to me twice in 21 years.

Jun 18, 2018 09:38 AM
Rainmaker
5,877,335
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have had the parents having a decision or financial interest in the kids' purchase.

Jun 16, 2018 07:55 AM
Rainmaker
1,728,156
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

We have in the past and the titling is dependent on the strength of the relations with the parties

Jun 15, 2018 04:21 AM
Rainmaker
1,435,300
Yolanda Cordova-Gilbert
Richmond, TX

I have dealt with many parents over the years as the kids are making a big purchase I only had one that was an Ahole but the deal went through as others have said they are usually supportive.

Jun 14, 2018 03:35 PM
Rainer
86,514
Mike Kelly,CRS,CIPS
The MJKelly Team - Santa Rosa, CA
"One of Sonoma County's Natural Resources"

Yes and sometimes it maddening! I had a young gal who dripped of money, Gucci bag, baubles hanging from her wrist which cost about as much as a real good year for a Realtor. She was Taiwanese and her Father made sure his baby got whatever she wanted. EXCEPT for the house he was going to buy her, end of a cul-de-sac, door opened to a staircase going right up to the second story--he drove up, saw her standing in the doorway, honked his horn and said NO! Bad Feng Shui! 

Jun 13, 2018 08:42 PM
Rainmaker
766,079
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

I have worked many children that the parents are helping with the finances and others that need their parents approval.  It is an obstacle but great to see families working together.  Parents are usually negative along the way.

Jun 13, 2018 06:44 PM
Ambassador
3,349,404
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Yes, occasionally.  Each situation is unique to the parties.

Jun 13, 2018 10:32 AM
Rainmaker
1,506,013
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Not too often.  More likely to see them giving a substantial "gift" to their kids towards the downpayment.

Jun 13, 2018 09:06 AM
Rainmaker
5,772,581
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

It happens in college towns.  One of our clients used to specialize in doing that at a particular University.  She was a graduate and a member of the alumni organization. She had many leads as a result.  A 

Jun 13, 2018 09:03 AM
Rainmaker
716,529
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Yes.

Jun 13, 2018 08:58 AM
Rainmaker
902,038
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

I have had parents accompanying young adult children and maybe helping financially to some extent, but not with any specific financial vehicles. Always complicated when family gets involved!

Jun 13, 2018 07:14 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

The caption with the image reads "Non-US parent buying property for child."

This adds a true dimension that must be discussed with the parent. The real question is their long term intent.  Long term plans benefit from having the real names on the deed. They may find buying a SUBWAY franchise to be their best option.

Jun 13, 2018 06:42 AM
Rainmaker
970,983
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

Not dealing with parents buying but advising. Always interesting. 

Jun 13, 2018 06:32 AM
Rainmaker
4,800,132
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I usually suggest they speak to their attorney.

Jun 13, 2018 06:11 AM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I have. In the last couple of years parents buying condos for their children who will attend college here. 

Jun 13, 2018 05:41 AM
Rainmaker
7,863,162
Roy Kelley
Retired - Gaithersburg, MD

The way title is taken is up to the parents.

It is often a mistake to be a co-borrower. 

Jun 13, 2018 05:37 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Rarely

Jun 13, 2018 05:08 AM
Rainmaker
5,238,990
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Usually under the kids name but have used trusts where the benenficial interst was transferred over time!

Jun 13, 2018 04:53 AM
Rainmaker
4,434,177
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I have had co signers.

Jun 13, 2018 03:36 AM
Rainmaker
1,322,984
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I had a listing a while back that was purchased, in cash - over $1Mil - by a Chinese family to be the home of their daughter who was soon to be wed.

It was interesting when the buyer's agent provided me with a proof of funds statement written in Chinese characters. One of out Team members translated for me. No problemo!

As I recall, the purchase was made in the names of the parents.

Jun 12, 2018 10:44 PM
Rainmaker
4,319,773
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Ricardo Mello - not as often as it used to be.

Jun 12, 2018 10:24 PM
Rainmaker
4,272,934
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Under the kids names mostly!

Jun 12, 2018 10:21 PM
Rainer
321,564
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

Recently we sold to parents. They purchased for their 34 year old son. We had the loan in son's name for a few weeks then changed to parents due to a discussion with parents bank. They needed to make the purchase and will rent to him.  They paid cash.

Jun 12, 2018 10:18 PM